Economics and Management - BA (Hons)

The module introduces students to theories of management beginning with classical management perspectives through to contemporary management concepts. It will illustrate the continuities and transformations in management thinking throughout the 20th and 21st century. The main topics of study include: Scientific Management; Human Relations Approach; Bureaucracy and Post-Bureaucracy; The Contingency Approach; Culture Management; Leadership; Aesthetic Labour; Extreme Management.

The module will cover various aspects of the changing global environment. An indicative list of topics is given below:

Part A: Framing the Business Environment

1. Introduction: Business Enterprise, globalisation, and institutions

2. The economic environment

3. The political environment

4. The legal environment

5. The cultural environment

Part B: Shaping International Business Activities

6. International trade

7. Global finance

8. Technology and Innovation

Part C: Emerging Issues

9. Social responsibility and ecological environment

10. Geopolitical context and international risk

An indicative set of topics to be covered within the module are outlined below.

• Basic Spreadsheet Functionalities: Introduction to common spreadsheet features: workbooks, worksheets, menus, cells, rows, columns, data types, relative and absolute cell addressing, copying, basic formulae, naming cells, formatting, charts and graphs, printing.

• Data Management Facilities: sorting, filtering, data forms, pivot tables.

• What-If Analysis: scenario manager, goal seek, data tables.

• Basic Financial Analysis: Introduction to basic financial analysis and how to carry this out using spreadsheets: compound interest, discounting, NPV, IRR, loans and mortgages.

• Advanced Spreadsheet Functionalities: automating tasks and solving simple optimisation business problems.

The module will begin with an introduction to the link between business and accounting in order to show the value to the students of their having some knowledge of accounting. The module is designed to teach students how to prepare, read and interpret financial information with a view to their being future business managers rather than accountants.

The module will continue with a brief demonstration of double-entry bookkeeping. Students will not be examined on this, it is merely to put bookkeeping and accounting in context. Following on from this, students will be shown how to prepare financial statements from a trial balance and make adjustments to the figures given by acting on information given in a short scenario.

The regulatory framework of financial reporting will be considered as will the annual reports and accounts of a variety of organisations. The module will finish will an analysis of financial statements with students shown how to interpret data and make sensible recommendations

This module introduces students to the basic concepts of probability and statistics, with applications to a variety of topics illustrated with real data. The techniques that are discussed can be used in their own right to solve simple problems, but also serve as an important foundation for later, more advanced, modules. Importantly, the module serves as a prerequisite for Stage 2 econometric modules EC580 and EC581.

The module commences with an overview of descriptive statistics. It then considers the key ideas in probability theory before moving on to statistical inference - the science of drawing conclusions from data. The main topics covered in the module include:

• Graphical and numerical analyses of data

• The principles of probability

• Probability Density Functions

• Sampling and its use in inference

• Regression and correlation

The module provides students with a thorough understanding of economics at an introductory level and provides the basis for all subsequent study that is taken on economics degree programmes. It is designed to teach students how to think as an economist and how to construct and use economic models. It also shows them how to be critical of economic models and how empirical evidence can be used in economic analysis.

The module explores how people make choices about what and how to produce and consume. It looks at the differences in economic outcomes between firms, people and countries and how they can be related to the effects of choices they, and others, make. It builds on the very simple and plausible assumption that people make decisions in their own interests and subject to constraints.

The first term covers the principles of microeconomics and shows how they can be applied to real-life situations and economic policy. The second term develops a framework for understanding macroeconomic events and macroeconomic policy. The emphasis throughout both terms is to demonstrate the usefulness of economics as an analytical tool for thinking about real world problems.

This Stage 1 module is designed for students who have an A -Level in mathematics, AS mathematics or equivalent qualification. A first-year mathematics module (either Mode A or B) is a compulsory part of all economics degree programmes and these modules take place in the Autumn term with a statistics module following on in the Spring term. If you are unsure whether your mathematical background is equivalent to an A level pass, please consult the module convenors.

The module introduces students to a basic understanding of mathematics necessary for intermediate and advanced level modules (levels 5 and 6) taken in Stages 2 and 3. The module is designed for students who have A-Level mathematics or an equivalent qualification. The module (or its equivalent for students with A-level mathematics) is compulsory for all Single and Joint Honours degree programmes in economics.

The module considers the following topics: linear equations, quadratic equations, multivariable functions; matrix algebra; differentiation; techniques of optimisation; constrained optimisation; non-linear functions and integration. These topics cover the important uses of mathematics in economics (and business) and are developed within a clear, contextual framework derived from first principles. Each topic is applied to a range of economic phenomena and problems and linked explicitly to the core Stage 1 economics module - EC304 Principles of Economics. Notably, the analytical and quantitative skills developed in the module are transferable across many different occupations.

The module introduces students to a basic understanding of mathematics necessary for intermediate and advanced level modules (levels 5 and 6) taken in Stages 2 and 3. The module is designed for students who do not have A-Level mathematics, AS mathematics or an equivalent qualification. The module (or its equivalent for students with A-level mathematics) is compulsory for all Single and Joint Honours degree programmes in economics.

The module considers the following topics: linear equations, quadratic equations, multivariable functions; matrix algebra; differentiation; techniques of optimisation; constrained optimisation; and non-linear functions. These topics cover the important uses of mathematics in economics (and business) and are developed within a clear, contextual framework derived from first principles. Each topic is applied to a range of economic phenomena and problems and linked explicitly to the core Stage 1 economics module - EC304 Principles of Economics. Notably, the analytical and quantitative skills developed in the module are transferable across many different occupations.

This module builds on the Stage 1 teaching of microeconomics to provide an intermediate course, which takes full account of the policy issues and controversies in the application and understanding of microeconomic issues. It introduces the fundamental theoretical foundations of microeconomics and provides examples of their application.

The module provides an analysis of the way in which the market system functions as a mechanism for coordinating the independent choices of individual economic agents. It addresses the behaviour and decision making of consumers and firms, and evaluates the efficiency and equity implications of competition and other market structures. The role of government in incentivising types of economic behaviour and addressing market failure is also explored.

This module builds on the Stage 1 teaching of macroeconomics to provide an intermediate course, which takes full account of the policy issues and controversies in the world macroeconomy.

Autumn Term considers the basic methodology of macroeconomic models and examines how macroeconomic theories of aggregate demand and aggregate supply are derived. It is important to be aware that there are many theories of aggregate demand and supply and that consideration of these theories involves studying the markets on which they are based. The Autumn Term develops and extends use of the IS-LM model to derive a theory of aggregate demand in both open and closed economies. It also scrutinises the labour market to derive a theory of aggregate supply and study the relationship between inflation and unemployment.

Spring term starts with studying the long-run, that is, what determines the standard of living of countries in the long term, as opposed to short-run economic fluctuations. It then considers microeconomic fundamentals of macroeconomics to understand in-depth the determinants of consumption, investment, and labour supply decisions. These considerations and the ideas developed in the autumn term are then used to extensively examine macroeconomic demand management policies (fiscal and monetary) and their shortcomings. Finally, we consider the role of the financial system in the macroeconomy and the causes behind some financial crises. Particular focus is given to the 2008/09 global financial crisis.

The module provides a broad, basic understanding of strategy and strategic management, on which further strategic analysis and exploration of strategic issues can be built. It introduces students to the key vocabulary, concepts and frameworks of strategic management and establishes criteria for assessing whether or not a strategy can be successful. It introduces students to frameworks for analysing the external and internal environments and to different theories of how these relate and of their impact on strategy formulation and implementation.

Students will learn how to identify strategic issues, develop strategic options to address them and decide which option(s) to recommend. Through theoretical readings and case studies, students will develop an appreciation of strategy in different contexts and from different perspectives and of the complexity of strategic decision-making. Students will enhance their ability to read business articles from a strategic perspective and to present strategic arguments in a structured manner

Students will be expected to develop the ability to use appropriate techniques of analysis and enquiry within Operations Management and to learn how to evaluate alternatives and make recommendations. Topics are likely to include:

• Strategic role of operations and operations strategy

• Design of processes and the implications for layout and flow

• Design and management of supply networks

• Resource planning and management

• Lean systems

This module will introduce students to the key concepts of managing people involving and examination of organisational, management and human resource management theory and practice. This will be achieved through relating relevant theory to practical people and organisational management issues.

The key topics of the module are:

• The nature of human resource management

• Motivation in the workplace

• Work organisation, job design and flexible working

• Groups and team working

• Diversity in the workplace

• Recruitment & selection

• Learning and development

• Employee Involvement and participation

• Employee performance and reward

• Ethical HRM

Project Management aims to provide an understanding of the key concepts and practices within the context of the organisational setting and the wider business and technological environment.

This module aims to develop a critical understanding of project management to enable students to recognise the importance of the discipline in a variety of organisational and functional contexts. Students should develop a critical understanding of the concepts employed in project management at strategic, systems and operational levels, and an appreciation of the knowledge and skills required for successful project management in organisations.

The key topics of the module are:

1. Project life cycles and alternative development paths

2. Project planning and control techniques, including CPM and PERT

3. Learning and innovation in projects

4. Resource planning

5. Team management and motivation

6. Contracts and incentives

7. Evaluation and returns

8. Stakeholder management

This module presents an overview of what work psychology is and its relevance and usefulness in improving our understanding and management of people (including ourselves) at work. Many work places operate sophisticated and expensive systems for assessing the costs and benefits of various workplace elements but often do not extend this to the management of employees. This module aims to demonstrate the benefits of having a comprehensive understanding of the role psychology can play in the management of people in contemporary organizations. Indicative content includes:

• Work psychology

• Individual differences and psychometrics

• Best practice personnel selection

• Stress and well-being

• Motivation

• Stereotypes and group behaviour

• Leadership and diversity

• The dark side of personality

• Political behaviour in the workplace

• The psychology of entrepreneurs

• Using work psychology to enhance employability

This module will introduce students to the key concepts of managing people involving and examination of organisational, management and human resource management theory and practice. This will be achieved through relating relevant theory to practical people and organisational management issues.

The key topics of the module are:

• The nature of human resource management

• Motivation in the workplace

• Work organisation, job design and flexible working

• Groups and team working

• Diversity in the workplace

• Recruitment & selection

• Learning and development

• Employee Involvement and participation

• Employee performance and reward

• Ethical HRM

This module will explore more advanced management and organizational theory to facilitate students’ examination of contemporary management challenges. As well as considering these challenges from a mainstream managerial perspective, the module will also draw on the perspective of critical management studies as a means of providing an alternative viewpoint on contemporary management issues. Indicative topic areas may include:

Globalization and anti-globalization

The character of ownership – foreign versus national ownership

Social and environmental sustainability

Corporate social responsibility and corporate criminality

Corporate governance

Organizational misbehaviour and resistance

Organizational identity and identity work

Masculinisation and Feminisation of Management

New forms of work such as emotional labour and aesthetic labour

New organizational forms

This module offers a comprehensive introduction to the area of cross-cultural management research. Based on a critical analysis of the assumptions underlying various approaches to studying national cultures, frameworks are applied to understand cross-cultural issues managers in international organisations may face.

• Different approaches to cross-cultural management

• Traditional approaches to studying cross-cultural management

• Different Levels of culture

• Cultural-frameworks

• Applications of cultural frameworks to managerial problems

• Critical evaluation of traditional approaches to studying cross-cultural management

• Emic vs. Etic approaches to cross cultural management

• Interpretive approaches to cross-cultural management

• Critical approaches to cross-cultural management

This module offers a critical analysis of how multinationals select their target markets and modes of entry and how they manage their various functions in an international context, balancing the needs for global integration and local responsiveness respectively.

• Managing the internationalisation process

• Country selection

• Choosing and designing entry modes

• Managing collaborative arrangements

• International marketing

• International human resource management

• International supply chain management

• International finance

• Research and development in an international perspective

• Managing multinationals using electronic commerce

• Managing multinationals responsively

A synopsis of the curriculum

Students will be expected to develop the ability to use appropriate techniques of analysis and enquiry within Operations and Service Management and to learn how to evaluate the alternatives and make recommendations. Topics include:

• The nature of services and service strategy

• Service development and technology

• Service quality and the service encounter

• Project/Event management and control

• Managing capacity and demand in services

• Managing inventories

This module will introduce students to the key concepts, theories and issues involved in international marketing. In doing so it will enable students to understand how to identify and evaluate opportunities in international markets and assess the different market entry modes available to companies. In addition students will consider the need to adapt marketing mix elements for different international markets.

The main topics of study are as follows:

• Introduction to international marketing: Definitions, theories, approaches and motives.

• International Marketing Research

• Assessing international markets: The political and economic environment

• Assessing international markets: The Sociocultural environment

• Theories and frameworks for International market evaluation and selection

• Market entry modes: export, intermediate and hierarchical

• International marketing plans and strategy: Segmentation, targeting and positioning

• Designing the global marketing mix: Product, pricing, communication and distribution decisions

This module aims to provide students with understanding and experience of the theory and practice of marketing research. During the module students design and implement a marketing research plan, design a questionnaire, collect and analyse data, prepare an oral presentation and write a marketing research report.

The main topics of study are as follows:

• Introduction to marketing research: Defining and designing marketing research projects

• Understanding data: Secondary data and databases

• Primary data collection techniques.

• Questionnaire design

• Measurement and measurement scales and error.

• Sampling and sample design and error

• Entering and coding data with SPSS

• Data analysis techniques

• Communicating the results of marketing research.

The module will provide students with the tools of marketing communications. Specifically students taking this module will be able to evaluate strengths and weakness of marketing communications channels. Over the course of a term the module will provide students with an understanding of the principles, methods and strategies of marketing communications. The main tools of marketing communications will be discussed as well as their suitability and effectiveness:

Topics may cover:

• The communications process

• Advertising

• Strategy and media planning

• Image, brand management and packaging

• Direct marketing

• Digital and interactive media

• Sales promotion, merchandising and point of sale

• Public relations and corporate identity

• Exhibitions, trade shows, product placement and sponsorship

• Personal selling

This module aims to develop a critical understanding of the role of digital marketing in modern organisations. The module considers what digital marketing strategy means looking at a range of examples across business sectors. Core areas are looked at including the technologies which make digital marketing possible, the relationship between digital marketing strategies and the wider organisation, the key issues in the development and implementation of digital marketing strategies and the threats, security and other, posed by digital marketing.

The following topics may be covered:

Enabling technologies for e-commerce: The Digital Marketing Environment, Digital Marketing Strategy; The Internet and the World Wide Web; Mobile platforms; Dot com and multi-channel; Social Media and Web 2.0; Database and data warehouses; Web site design and management; Marketplaces; B2B Digital Marketing; Business Models and Innovation.

This module provides a critical introduction to the main theories and debates in International Business and uses these theoretical lenses to explain core phenomena in international business.

• Explaining international economic transactions (trade theories, national competitiveness)

• Explaining the existence of MNEs (internalisation theory, eclectic theory, monopolistic advantages)

• Explaining the coevolution of environment and MNEs (institutional theory, resource dependence theory, evolutionary theory, investment development path, product life cycle theory)

• Explaining the growth and decline of MNEs (stages model, market entry/expansion modes)

The module looks at how digital marketing applications can be used by modern organisations. The module considers the fundamental technologies that support digital marketing along with the regulatory and societal challenges that must be taken into account, for example, privacy and data protection. The methods available to attract customers through digital marketing are covered making a distinction between paid methods, such as sponsored search, and non-paid methods, such as an organisation's own social media assets. Issues around loyalty are considered especially in the context of falling search costs which enable customers to switch providers.

The unique nature of digital products, for example music downloads or video streaming, are outlined with the marketing challenges and opportunities this presents. The module stresses the importance of implementation, using applied examples, and the uncertainty involved.

The digital marketing environment; Enabling technologies for digital marketing; Website design, implementation and analysis; Social media; Social commerce; Customers in the Internet age: knowing, reaching & retaining the customer; Network effects and versioning; Loyalty, Customer Relationship Management and Data Mining; E-Marketing campaigns; Brands in the Internet age; Data protection, privacy and legal issues; Digital marketing and globalisation

This module is designed to provide students across the university with access to knowledge, skill development and training in the field of entrepreneurship with a special emphasis on developing a business plan in order to exploit identified opportunities. Hence, the module will be of value for students who aspire to establishing their own business and/or introducing innovation through new product, service, process, project or business development in an established organisation. The module complements students' final year projects in Computing, Law, Biosciences, Electronics, Multimedia, and Drama etc.

The curriculum is based on the business model canvas and lean start up principles (Osterwalder and Pigneur 2010) on designing a business plan for starting a new venture or introducing innovation in an established organisation.

10. A synopsis of the curriculum

This module facilitates the development of an entrepreneurial mind-set, and equips students with necessary cutting-edge knowledge and skills vital for generating value in a knowledge based economy. The curriculum will include the following areas of study:

• Broader application of entrepreneurship

• Co-creation as a new form of generating value in an innovation ecosystem.

• Managing innovation entrepreneurially

• Entrepreneurial opportunity

• Entrepreneurial Motivation

• Entrepreneurial Marketing

• Entrepreneurial Finance – Finance fuels entrepreneurship.

This module presents an overview of what workforce diversity is and its relevance and usefulness in improving our understanding and management of people (including ourselves) at work. The demographics of the population and the workplace are changing drastically because of a number of factors, such as an increasing number of ethnic minorities and women in the workforce and in management. Accordingly, there is a need to effectively understand and manage workforce diversity not only to increase organisational business outcomes but also to create an inclusive workplace in a socially responsible manner.

The module will examine issues confronting managers of a diverse workforce. In particular issues such as ethnicity, race, language, ageing, disability, gender, and intersectional identities will be discussed. Two key approaches towards managing diversity will be explained, i.e. the social equity case of managing diversity, and the business benefits case of managing diversity. The module will explore a range of diversity related concepts and topics, such as social identity, stereotyping, discrimination, intergroup conflict, structural integration, and organisational change.

Main themes covered by this module will include:

Origins of diversity and equal opportunity in the workplace context;

Social and psychological perspectives on workplace diversity;

The UK and European diversity contexts;

Business benefits case and social equity case of managing diversity;

The legal framework for diversity;

Organisational approaches to diversity;

Contemporary issues central to the experiences of diverse individuals in the UK and in organisations across a range of diversity dimensions;

Diversity management in an international context

The module provides insight into the basic theories underlying customs union and economic and monetary union, and of the rationale for, and strengths and weaknesses of, policy intervention at the EU level. It introduces the economic rationale for the existence of the EU, the working of some of its main policy areas, and a critique and assessment of developments to date

The emphasis throughout is on the development of appropriate economic theories and their application in the specific context of the regional integration in Europe. The nature of economic integration is such that the module involves a broad coverage of both microeconomics and macroeconomics, often involving applied issues and analysis going beyond that covered in more theory focussed modules.

This is a one unit module offered by the School of Economics in the Autumn Term to final year students who have completed at least Stage II level or equivalent modules in macroeconomics and microeconomics.

The market for labour is the crucial mechanism that determines the distribution of income, work and opportunities. Macro factors such as globalisation, (im)migration, technological change and government policy will affect and be affected by the structure of labour markets. Rather than trying to cover the entirety of this very broad subject, the aim of this course is to focus on a few areas of topical interest and importance. We will examine the issues like the following:

1. The relationship between unemployment and wages

2. The impact of immigration on the resources of the lower skilled

3. The differences in pay and opportunities between men and women

4. Government policy towards skills and education

5. Executive pay

Throughout we attempt to integrate theoretical issues, empirical evidence and questions of policy, drawing on research covering a range of OECD countries.

The module provides an introduction to game theory and its use by economists as a professional tool for understanding and analysing economic decision making under uncertainty. The module introduces students to topical and important research areas of microeconomic analysis, and develops their skills in setting up and solving games that arise in business and economics.

The module introduces students to the field of Industrial Economics and studies why and how firms and industries behave and interact with each other. Understanding firms' behaviour is relevant not only to the firms but also to the governments that design industrial policies in order to favour consumers without decreasing firms' efficiency.

The module is designed for students who have taken intermediate microeconomics and addresses issues that are present in everyday news: anti-competitive practices, the effect of market power on consumer welfare, incentives for product innovation, and the private and public effects of mergers.

The module introduces students to the theoretical underpinnings that constitute international finance and the nature and extent of monetary and financial relations between countries.

The module introduces basic concepts of international macroeconomics such as the balance of payments and exchange rates, and arbitrage conditions. It then proceeds to analyse the impact of opening up the economy on the alternative macroeconomic policies available. The main factors that determine exchange rates between currencies, and the power of different models are also considered. Finally, the module explores 'hot topics' in international finance including the benefits and drawbacks of fixed and floating exchange rates, the concept of a speculative attack, current account imbalances from an inter-temporal perspective, and how world macroeconomic imbalances drove the 2008/09 international financial crisis and recent sovereign debt crisis in Europe.

The module has both a theoretical and an applied emphasis in order to apply available theories into the real problems of the world economy. It does not analyse the detailed workings of international financial markets or questions related to firm financial management in international capital markets but students interested in these aspects can acquire basic foundations that are fundamental in understanding the context in which firms and governments work.

The topics covered in the module include:

1. Open economy macroeconomics and policy.

2. Exchange rates determination theory and empirics.

3. Microfounded models of the current account.

4. International financial flows.

5. International indebtedness.

6. International financial crises

7. International monetary arrangements.

This module provides students with an in-depth understanding of current issues and theoretical debates in international trade, together with their policy implications. It also provides the knowledge and skills necessary for interpreting related studies of countries at different levels of development.

International trade is a key issue on the world agenda and has considerable effects on countries' economies. The effects occur at the micro level of firms and households as well as at the macro level, where they are the subjects of government policy debates. International Trade takes advantage of the tools of economic analysis, which are common to other areas in economics, to study the issues raised by the economic interaction between sovereign states.

This module introduces students to monetary and macroeconomic issues from a theoretical perspective. The following topics are considered:

• Structural macro and monetary modelling

• Reduced form macro and monetary modelling

• Short-run analysis of the aggregate economy

• Long-run analysis of the aggregate economy

• Policy interventions

The module develops skills in asset pricing and an understanding of the theoretical basis of the theory behind it. The module requires knowledge of some mathematical techniques but stresses practical training in asset pricing with a focus on the intuitions and heuristics behind theorems and formulae, rather than their rigorous derivations and semantic definitions.

There are three key topics; (i) investors' optimisation, (ii) discrete time models and (iii) option Greeks and option strategies. For (i), the module first introduces the basic financial economics, and, based on it, we establish the basis of the risk-neutral probability. For (ii), the module discusses how to construct the tree model based on the historical price data, and shows that the model can be used to find the fair prices of a wide range of financial derivatives. For (iii), the module investigates the Black-Scholes-Merton (BSM) formula, and then how to use it to find the optimal hedge ratio for delta hedging. In this respect, the module also discusses how to use the return correlations to find the optimal hedge ratio.

There are no pre-requisites for this module but the following modules are recommended: EC534(Money and Banking), EC550(Monetary), EC548(international Finance), EC562(Finance 1).

This module covers a variety of growth issues from both empirical and theoretical views. The first part of the course deals with basic concepts of economic growth, including how to measure growth and the core theories of economic growth. The second part deals with productivity; how to measure productivity and analyse different sources of productivity growth. The third part deals with economic fundamentals, including the relationship between government policies, income inequality, and growth.

The aim of the module is to teach the basic principles of economic growth in order to answer such questions as:

- what are the determinants of growth?

- how can we improve productivity?

- what kind of role does the government play on growth?

- why are there differences in the level of income among countries?

In the last 30 to 35 years, the study of economic development has increasingly focused on the behaviour of individuals – their opportunities, constraints, and choices – to understand the causes and nature of poverty, and on formulating strategies for improving their economic well-being. This trend includes the increased application of microeconomic theories to understand phenomena related to underdevelopment, the collection and analysis of data at the individual level (as opposed to the regional or national level) and, most recently, the use of lab and field experiments to better understand individual behaviour.

The module introduces you to these trends, to show how the related microeconomic tools have contributed to a better understanding of the process of economic development. Some of these methods are now widely used by international development agencies – such the World Bank and DfID – as well as academic researchers to critically assess development strategies and evaluate programmes aimed at improving the economic well-being of the poor in developing countries.

This module introduces you to agriculture, food and natural resource economics and economics generally. A key objective is to help you develop an ability to apply economic thinking to problems in this area. The module considers various aspects of agricultural, food and resource economics including food production, economic theory related to agricultural policy, food supply chains and food prices, food economics specifically food labels and various economic aspects of natural resource management such as forestry and fisheries.

The module is divided into three parts. In Part A we examine the relationship between the economy and the agriculture. In Part B we consider aspects of food economics. In Part C we examine various issues relating to natural resource. The emphasis in all parts of the module is to understand the links between theory and practice.

This course examines the economic relevance of human capital. It begins by defining and categorizing different types of human capital, and then considers the economic importance of human capital both to individuals and to society. The course then proceeds to explore the connections between human capital and the labour market, as well as social outcomes such as crime. Finally, it will discuss the challenges faced in identifying a causal effect of human capital on individual and social outcomes. Specific consideration will be given to how econometric techniques can be used to obtain causal effects.

The course will also study how human capital is formed and how it can be influenced by policy intervention. It will consider the effects of specific policy interventions on human capital development, drawing on examples from developing and developed countries.

The module will introduce students to the topic of political economy using microeconomic analytical tools. In particular, the module will provide students with an overview of microeconomic theories and empirical methods that have been used to bring new insights to issues related to political economy. The module will also explore how these issues relate to themes in development, public and environmental economics. The following topics will be covered in the module.

1. Electoral rules, voting and their economic implications:

2. Political Reforms and their Economic Impacts:

3. Institutions and Development:

4. Ethnic and Civil Conflict:

5. Climate Agreements:

The module will introduce students to a range of mathematical techniques, which are useful in economic analysis. The aim is to deepen and extend the mathematical preparation of undergraduate students considering technical modules at Stage 3. Emphasis will be placed on a clear and rigorous presentation of the various technical concepts and their applications. The module will cover a range of relevant mathematical tools and techniques that are typically required for postgraduate study in economics.

Topics include:

• Matrix Algebra and Multiple Equation Systems

• Optimisation Theory

• Duality

• Dynamic Models

The aim of the module is to introduce the students to the evolution of the financial crises from a historical perspective. Since financial crises are infrequent (though often occurring) events, a long-run perspective is necessary to understand their causes and consequences. This module will look at financial crises from the Tulip mania in 1636 to the financial crisis of 2008, and combine theoretical approaches to understanding financial crises with critical discussion of historical episodes.

The module will cover the following topics:

1. Financial crises in historical perspective: long-run facts

2. Theories of financial crises

3. The severity of financial crises in historical perspective

4. Financial crises in the 17th and 18th Centuries

5. Early 19th century financial crises

6. The 1890s

7. The banking panic of 1907 and the emergence of Fed

8. The Great Depression I – Florida housing bubble, FED and 1931 banking crises

9. The Great Depression II – US banking crisis

10. The Great Depression III – Germany, Eastern European crisis, sterling crisis

11. Financial crises in the 1990s

12. The Great Recessions – housing bubble, contagion, banking crisis