Emrul Hasan
Research Area
About
I am a Lecturer at the Vancouver School of Economics (UBC), where my teaching spans macroeconomics at various levels, applied econometrics, international trade, and international finance. I regularly design and deliver interdisciplinary courses, including graduate-level econometrics for the Master of Food and Resource Economics program and applied economic analysis for the Master of Public Policy and Global Affairs. I also teach seminar-style courses in international economics in collaboration with UBC’s International Relations program. My teaching is rooted in experiential learning, with a focus on CFA-aligned, career-relevant applications that combine data skills, public policy, and global economic contexts.
Prior to joining UBC, I taught full-time at Simon Fraser University and also held teaching positions at BCIT and Douglas College. My background includes work in private equity valuation, mergers and acquisitions, and macroeconomic consulting. I later transitioned into public policy research, working at the Fraser Institute, Canada’s leading policy think tank. Alongside teaching, I remain active in education and financial consulting. I serve as a curriculum advisor and pedagogical consultant to several organizations, including The Princeton Review, and frequently contribute to academic boards seeking to modernize and improve economics and finance instruction.
I also frequently participate in public dialogue through invited podcasts and events related to economics pedagogy, trade and financial policies, and drug-related public health challenges. My passion for enhancing student learning has led me to adopt and develop innovative tools and approaches that improve classroom engagement and outcomes.
Originally from Bangladesh, I moved to Canada in 2008 and have lived in beautiful British Columbia since 2010. Outside the classroom, I am a community leader and founding director of the Canadian Foundation for Inclusive Health, Sport, Education and Culture, which oversees the country’s largest amateur global cricket league with over 1,600 players. I also mentor students through the Vancouver School of Economics Undergraduate Society (VSEUS) and serve as the department’s Well-being Liaison, supporting students both academically and personally.
Teaching
Research
My primary research areas are asset pricing, capital gains taxes, behavioral finance and economics, IPO, and SEO underpricing. My research philosophy, publications, and working papers can be found here: emrulhassan.com/research
Select working papers
A Tax “Lock-in” Explanation for Significant Negative Issuance Date Returns in Seasoned Equity Offerings (SEOs)
Capital Gains Tax “Lock-in” Effect Due to Differential Tax Rates for Short-term and Long-term Holdings: Evidence from IPO Underpricing
Publications
We extend the capital gain lock-in model developed in Klein (1998) to explain the drop in the price of a company's shares when it conducts an SEO. We show that investors which are locked-in may not be willing to participate in an SEO. As a result, the equilibrium price after the SEO needs to be lower than it would be otherwise in order that the remaining investors are willing to bear the additional investment risk of the SEO. We provide numerical examples to demonstrate our theoretical results. Our theory is well supported by empirical tests of SEO issue-day returns using data on the accrued capital gains of tax-sensitive and tax-insensitive institutional investors.[go to paper]
In this paper, we discuss the differences between online and in-person students (“cohorts”) in an intermediate econometrics course taught in Summer 2021 using a hybrid (online and in-person) educational format. We designed this course as an experimental pilot which used a combination of lectures, labs, and hands-on activities to study whether hybrid instruction necessarily advantages one group of students (e.g., in-person) over another (e.g., online). We were particularly interested to know if differences could be reduced through course design choices and the use of interactive learning activities. We found that our design led to generally highly positive experiences for students – and there were no differences in affective experiences between the online and in-person cohorts. We did find some small differences in participation and peer-evaluation, favouring in-person students, but no differences in overall academic achievement. We conclude that this case study shows how certain forms of hybrid learning do not necessarily disadvantage online students, if properly supported with course and curriculum design. We also provide examples and guidance for educators seeking to adapt, replicate, or extend our approach.[go to paper]
Additional Description
I am an active researcher working on capital gains taxes, asset pricing, behavioural finance and economics, IPO and SEO underpricing.
I led diverse courses in Economics and Finance throughout my teaching career at different academic institutions. I believe these experiences added to the breadth of my knowledge consistent with what Joseph L. Rotman said “Breadth of knowledge is critical to developing high value decision-makers for today’s business world.” My teaching philosophy and the list of courses I taught can be found here: emrulhasan.com/teaching