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# Department of Economics and International Development, Unit Catalogue 2002/03

### EC10003: Core skills for economists: introduction to computing and Data Analysis

 Credits: 6
 Level: Certificate
 Semester: 1
 Assessment: EX50CW30PR20
 Requisites:
 Aims & Learning Objectives: The aim of the course unit is to familiarise students with University computing facilities and to explore the application of these facilities to economics and to empirical political data. Students should develop the spreadsheet skills to simulate the theoretical models they are learning about in economics and politics. Content: Review of University computing facilities. Powerpoint. Access - database management. The Internet and the World wide web for data retrieval. Creating and managing spreadsheets in Excel - model building and financial functions. Displaying and describing univariate data.Displaying and describing bivariate relations.

### EC10004: Core skills for economists: Introduction to Statistics

 Credits: 6
 Level: Certificate
 Semester: 2
 Assessment: EX70OT30
 Requisites: Before taking this unit you must take EC10003
 Aims & Learning Objectives: The aim of this Unit is to provide students with experience in the use of real statistical data in economics and to further develop their computing skills, including the use of Excel and Minitab spreadsheets. The learning objectives are that students should be able to: * Calculate probablities using a variety of discrete and continuous distributions * Explain methods for selecting a sample and be able to construct sampling distributions * Calculate confidence intervals and hypothesis tests for means and proportions * Apply nonparametric and analysis of variance tests * Data dianostics and transformations Content: The nature of statistics and review of descriptive statistics. Probability theory. Discrete and continuous distributions. Sources of economic data: definitions and reliability. Sampling theory and methods. Point and interval estimation. Hypothesis testing. Chi-squared and F Distributions. Outliers, influential variables and data transformations. Key texts: R. Mason, D. Lind and W. Marchal Statistical Techniques in Business and Economics

### EC10005: Core skills for economists: Elementary mathematics

 Credits: 6
 Level: Certificate
 Semester: 1
 Assessment: EX80CW20
 Requisites:
 Aims & Learning Objectives: The aim of this Unit is to provide students without A-level Mathematics with the knowledge of elementary mathematics that is relevant to economics and to prepare them for the Core Skills: Mathematics unit (UNIV0036) in semester 2. Students should be able to: (i) understand elementary mathematical concepts; (ii) solve simple mathematical problems; (iii) apply mathematics to simple economic problems. Content: The course unit begins with a review of GCSE algebra, and students should read the book by P. Abbott Teach Yourself Algebra, useful for revision. Topics will include: variables and functions; coordinates and graphs; powers and indices, exponential and logarithmic functions; linear equations; quadratic equations; simultaneous equations; sequences and series; differentiation, maxima and minima; integration. Key text: T. Bradley and P. Patton Essential Mathematics for Economics and Business.

### EC10006: Introductory microeconomics

 Credits: 6
 Level: Certificate
 Semester: 1
 Assessment: ES20CW20EX40
 Requisites:
 Aims & Learning Objectives: Aims: The Unit is designed to provide an introduction to the methods of microeconomic analysis, including the use of simple economic models and their application. Students should gain an ability to derive conclusions from simple economic models and evaluate their realism and usefulness. Learning Objectives: By the end of the course unit students should be able to understand and apply basic microeconomic principles to the economic decisions of households and firms under a variety of market conditions. They should be able to use these principles both to describe and to appraise these decisions. They should be competent in the verbal, diagrammatic and basic mathematical concepts and techniques used in introductory microeconomics. Additional provision is made for those students without A Level Economics. The Unit is supported by the CAL package WinEcon, and the Web package Tutor2U. Content: An introduction to economic methodology; the concept of market equilibrium; the use of demand and supply curves, and the concept of elasticity; elementary consumer theory, indifference curves and their relationship to market demands; elementary theory of production, production possibilities and their relationship to cost curves; the output decisions of perfectly and imperfectly competitive firms and industries; supply curves; the idea of general competitive equilibrium; the efficiency properties of competitive markets; examples of market failure. Key texts: Richard G. Lipsey and K. Alec Chrystal An Introduction to Positive Economics Jean Soper and Phil Hobbs (eds) The WinEcon Workbook Alan Griffiths and Stuart Wall Applied Economics: An Introductory Course

### EC10007: Introductory macroeconomics

 Credits: 6
 Level: Certificate
 Semester: 2
 Assessment: ES20EX40CW20
 Requisites:
 Aims & Learning Objectives: Aims: The Unit is designed to provide an introduction to the methods of macroeconomic analysis, including the use of simple macroeconomic models and their application in a UK policy context. Students should gain an ability to derive conclusions from simple economic models and evaluate their realism and usefulness in policy making. Learning Objectives: By the end of the course unit students should be able to understand and apply basic macroeconomic principles to the economic decisions of the policy-maker. They should be able to use these principles to both describe and appraise these decisions as well as to understand how macroeconomic problems arise. They should be competent in the verbal, diagrammatic and basic mathematical concepts used in introductory macroeconomics, providing a suitable platform for the more advanced study of this subject in future years. Additional provision is made for those students without A Level Economics. The Unit is supported by the CAL package WinEcon. Content: The circular flow of income and expenditure; national income accounting; aggregate demand and supply; the components and determinants of private and public sector aggregate expenditure in closed and open economies; output and the price level in the short- and long-run; monetary and fiscal policy; inflation and unemployment; the balance of payments and exchange rates; economic growth, economic cycles; macroeconomic modelling. Key text: Richard G. Lipsey and K. Alec Chrystal An Introduction to Positive Economics Supplementary texts: M.J. Artis (ed) The UK Economy: a Manual of Applied Economics Alan Griffiths and Stuart Wall Applied Economics: An Introductory Course Additional material: lecture notes are in the Library, including additional reading material and also on the Web. The student is also referred to the IFS web page.

### EC10008: The modern world economy 1

 Credits: 6
 Level: Certificate
 Semester: 1
 Assessment: EX70OT30
 Requisites:
 Aims & Learning Objectives: Aims: The aim of this Unit is to equip students with an historical, institutional and descriptive understanding of economic issues and institutions in a global context. Students will be exposed to diverse views in a variety of books and articles and will be encouraged to take a questioning approach to concepts and to the use of evidence.. The Unit is appropriate for specialist students of economics and will support and provide a relevant policy context for first year units in introductory micro and macroeconomics. The Unit is also appropriate for non-specialist students, who may wish to take only one or two course units in economics, and will introduce them to some of the central principles of economics via the policy questions and institutional arrangements which confront modern economies. Learning objectives: By the end of the course unit, students should be able to develop an informed commentary on both academic and more popular arguments on: 1. Patterns of growth and development at national, regional and global levels 2. The role of multilateral corporations in the global economy 3. The impacts of globalisation on the workforces of both developed and developing economies 4. The scope for national economic policies within the globalised economy Content: Growth and development in the world economy since the Second World War; income distribution in the world economy; patterns of international trade and investment; the role of multi national corporations; the concept of globalisation; definition, causes and impact on the nation states; international economic institutions and the regulation of international trade; investment and finance. Key text: Peter Dicken Global Shift.

### EC10009: The modern world economy 2

 Credits: 6
 Level: Certificate
 Semester: 2
 Assessment: ES30EX70
 Requisites: Before taking this unit you must take EC10008
 Aims & Learning Objectives: This Unit is a continuation from EC10008 The Modern World Economy 1. Its aim is to provide students with a better appreciation of the extent of diversity in economic performance across selected regions of the world in the post second world war period and reasons for this variation. It is designed to be accessible to both specialist and non-specialist students of economics. Learning objectives: By the end of the course unit students should have greater insight into how the economies of selected regions differ, and reasons for those differences, including differences in economic strategy and policies. Content: The course unit will focus on three sets of countries: transitional economies of East and Central Europe, newly industrialised economies of East and South East Asia; low income economies of Latin America, sub-Saharan Africa, and South Asia. There will be three themes: 1. Central planning, operation and failure; the state of transition today; expanding the European Union to embrace transitional economies of Central and Eastern Europe 2. East and South East Asian growth: interpretations of the pre-1997 East Asian growth "miracle"; causes and consequences of the 1997 crisis; recovery and the longer term prospects for sustainable development; the case of Japan. 3. Case studies of the relationship between growth, policy and poverty in low income economies. Key texts: World Development Report 2001/2 (poverty) D. Gros and A. Steinherr Winds of Change World Bank The East Asian Miracle R. Robinson et al Politics and Markets in the Wake of the Asian Crisis.

### EC10077: Introduction to international development

 Credits: 6
 Level: Certificate
 Semester: 1
 Assessment: CW30ES50OT20
 Requisites:
 Aims & Learning Objectives: The aim of the Unit is to introduce students to the major issues in international development. The learning objectives are that students should: 1. Learn to 'think sociologically' about international development issues 2. Have some knowledge of the development of capitalism and the nation-state system and the ways in which these have interacted to produce problems of poverty, international debt and violence 3. Appreciate the different contributions to understanding development made by different social science disciplines 4. Understand the ideological arguments between the major development paradigms 5. Recognise the gender bias which permeates both the social structures in developing countries and international development discourses. Content: From mercantilism to globalisation; world structures and the diversity of country trajectories; disciplinary approaches to international development; development paradigms; conflict and violence; gender biases in international development; the environment; livelihoods - production and reproduction; wealth and poverty; the development industry and its critics. Key texts: Peter Preston Development Theory: an Introduction Diana Hunt Economic Theories of Development Ankie Hoogvelt Globalisation and the Postcolonial World Katy Gardner & David Lewis Anthropology, Development and the Post-modern Challenge Andrew Boyd An Atlas of World Affairs

### EC10078: Developing countries in world politics

 Credits: 6
 Level: Certificate
 Semester: 2
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: The aim of the Unit is to give students an introduction to the main personalities and events in the international arena since 1945 which have contributed to the present position of developing countries in the current global order. Learning objectives: By the end of the course unit students should be able to identify the main personalities and events in world politics and explain their influence on the politics and economics of developing countries. They should be able to explain the role of developing countries in the origins and development of the Cold War, and have an appreciation of the main debates about the Cold War. Content: The emergence of the League of Nations and the United Nations system; Bretton-Woods; Developing Countries in the Cold War; India and South Asia: Independence and Partition; Southeast Asia and Peasant Revolutions; African independence and the South African liberation struggle; the Middle-East: Arab nationalism and oil wealth; Latin America: revolution and dictatorship. Key texts: Peter Calvocoressi World Politics Since 1945 Geir Lundestad East, West, North, South: Major Developments in International Politics Since 1945 J. Dunbabin The Post-Imperial Age: The Great Powers and the Wider World Additional material: The unit is supported by video presentations of various issues and themes in world affairs. All are available from the short loan section of the Library.

### EC10130: Core skills for economists: mathematics

 Credits: 6
 Level: Certificate
 Semester: 2
 Assessment: EX80CW20
 Requisites:
 Before taking this unit you must take EC10005
 or A-level Mathematics Aims & Learning Objectives: The aim of this Unit is to provide students with the knowledge of the main parts of mathematics that are relevant to undergraduate economics and to prepare them for taking further economics and econometrics courses. The learning objective is that students should be able to: (i) understand mathematical concepts; (ii) solve mathematical problems; (iii) apply mathematics to economic problems. Content: Topics will include: functions of more than one variable; partial differentiation; maxima and minima of multivariate functions; constrained optimisation; solution of sets of linear equations; manipulation of vectors and matrices; differential and difference equations. Key texts: Ian Jacques,'Mathematics for Economics and Business'. T. Bradley and P. Patton,'Essential Mathematics for Economics and Business'. Chris Birchenhall and Paul Grout,'Mathematics for Modern Economics'.

### EC20010: Intermediate microeconomics

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: EX75OT25
 Requisites: Before taking this unit you must take EC10006
 Aims & Learning Objectives: This course unit covers the core concepts and methods of microeconomic analysis, using some mathematics in modelling and explication, in conformity with modern intermediate micro texts. It is supported by a course unit in Mathematical Economics, where single honours Economics students will acquire a more rigorous mathematical approach. The aim of this unit is to enable students to deepen their analytical ability in microeconomics so that they can use theory to generate predictions and explanations with respect to economic phenomena. The learning objectives are that by the end of the course unit, students should be able to tackle economic problems with the sustained application of (mainly neo-classical) economic principles and be familiar with recent contributions to the subject. Manipulation of short problems under test conditions allows the demonstration of economic insight. The course unit is essential for anyone wishing to undertake further study of the economics of industry, labour, environment and other sectoral economic issues. Content: The course will cover the theory of consumer behaviour, the theory of the firm in a competitive situation, industrial organisation and imperfect competition, the theory of factor markets, the economics of uncertainty and information, welfare economics and general equilibrium theory. Key texts: H. Varian,'Intermediate Microeconomics'. D. Laidler and S. Estrin,'Introduction to Microeconomics'.

### EC20011: Intermediate macroeconomics

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: EX75OT25
 Requisites: Before taking this unit you must take EC10007
 Aims & Learning Objectives: This course unit covers the core concepts and methods of macroeconomic analysis, with some use of mathematics where appropriate. Exposition in lectures will be mainly verbal and diagrammatic; single honours Economics students will acquire a more rigorous mathematical treatment of some topics in the unit in Mathematical Economics. The aim is to enable students to deepen their analytical ability in macroeconomics so that they can analyse more complex theoretical and policy problems. The learning objectives are that by the end of the course students should be able to demonstrate an ability to understand, manipulate and use for policy analysis a series of small general equilibrium models. In addition by showing an ability to answer problems under test conditions to exhibit an active problem solving engagement with the material. Content: Topics include intertemporal budget constraints; money and the demand for money; monetary policy, aggregate demand and output; inflation and business cycles; fiscal policy; labour markets; exchange rates and financial markets; the international monetary system. Key texts: M. Burda and C. Wyplosz,'Macroeconomics: a European Text'. R.J. Barro and V. Grilli,'European Macroeconomics'.

### EC20012: Economic thought & policy 1

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: EX50ES50
 Requisites: Before taking this unit you must take EC10006 and take EC10007
 Aims & Learning Objectives: Aims of the Unit: * To familiarise students with a range of primary source texts written by major economists from the late eighteenth to late nineteenth century. * To stimulate an interest and knowledge base in the historical development of economics in Britain. * To convey the relevance of the economics of earlier writers to an understanding of present day economic thought and debate. Learning Objectives: Students will have developed an understanding of the economic models and contributions to policy of a number of major economists in the eighteenth and nineteenth centuries and the context within which these models were relevant. Students will have acquired "first hand" knowledge through reading primary sources. Content: The historical development of economic thought and policy from the beginning of the industrial revolution in the eighteenth century to the emergence of neoclassical economics. The main economists considered are Smith, Malthus, Ricardo, J.S. Mill and Jevons. Key texts: Primary sources Ekelund and Hebert,'A History of Economic Theory and Method'. R. Heilbroner,'The Worldly Philosophers'.

### EC20013: Economic thought & policy 2

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: EX50ES50
 Requisites: Before taking this unit you must take EC20012
 Aims & Learning Objectives: This Unit extends the aims and objectives of Economic Thought and Policy 1 (ECOI0012) by considering the influence of late nineteenth and early twentieth century economists on the development of economic ideas and policy. Content: The main economists considered are Marshall, Pigou, Pareto, Wicksell, Myrdal Ohlin, Hayek and Keynes. The course unit is organised around three or four broad topic areas, from the following: The development of welfare economics from Marshall onwards; The competitive model and increasing returns to scale; Money, business cycles and effective demand in the 1920s and 1930s; Keynesian and post-Keynesian macroeconomic policy. Key texts: G.L.S. Shackle,'The Years of High Theory'. Ekelund and Hebert,'A History of Economic Theory and Method'. David Laidler,'Fabricating the Keynesian Revolution'. Primary sources.

### EC20014: Money & finance

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: ES20EX80
 Requisites: Before taking this unit you must take EC10006 and take EC10007
 Aims & Learning Objectives: The aim of this Unit is to provide an introduction to the analysis of financial behaviour, and to use this analysis to explain and evaluate recent trends in UK financial markets, institutions, and policy within the context of European monetary and financial integration. The learning objectives are that, at the end of the course, students should be able to i) understand the roles of financial markets and the institutions that participate in them, ii) analyse the effects of changes in financial market structures on market behaviour, iii) analyse the effects of government financial policy on the workings of financial markets. Content: Risk and return: financial instruments and their pricing; financial intermediation; money and capital markets; the foreign exchange market; deposit- and non-deposit-taking financial institutions; government borrowing, the regulatory regime, and the role of the central bank. Key texts: P.G.A. Howells and K. Bain,'The Economics of Money, Banking and Finance: a European Text'. C.A.E. Goodhart,'Money, Information and Uncertainty'. M. Artis and M. Lewis,'Money in Britain'.

### EC20015: Economics of industry

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: EX80CW20
 Requisites: Before taking this unit you must take EC10006
 Aims & Learning Objectives: The aim of the Unit is to examine industry and the policy context within which it operates, with particular reference to the UK. The emphasis is in part on providing a descriptive account of the key features of industrial structure and in part on providing an account of theoretical models which can be used to explain the behaviour of firms and industries. Learning Objectives: Students will have acquired familiarity with key topics in industrial economics such as pricing theory, advertising, innovation and the analysis of market structure and barriers to entry and be able to apply these concepts to contemporary industrial developments. Students will have gained an understanding of industrial and competition policy. Content: The Unit provides a descriptive review of contemporary industrial structure and of the relationship between industry in the UK, Europe and beyond. It reviews the two main paradigms for analysing industry, namely the Structure-Conduct-Performance model and the New Industrial Economics. It applies microeconomic theory to explain why firms exist and how they select price, output and marketing strategies. It examines the role played by government policy in the operation and regulation of industry. Key texts: Stead, Curwen and Lawler,'Industrial Economics'. Jacobson and Andreosso-O'Callaghan,'Industrial Economics and Organisation: A European Perspective'. George, Joll and Lynk,'Industrial Organisation'.

### EC20016: Economics of social policy

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC10006 or (take SP10001 and take SP10002)
 Aims & Learning Objectives: The aim of this Unit is to build on students` knowledge of microeconomic principles and apply and extend it within the context of social policy. Students will acquire an understanding of what economics has to say about some of the major areas of social policy. Efficiency and equity issues within this important area will be stressed. Learning objectives include the possession of a sound grasp of how economics can illuminate areas of social policy, and the demonstration of analytical ability by applying economic principles to social policy problems. Content: The course unit introduces some of the main issues that economists emphasise when they discuss social policy. The lectures are divided into two groups. In the first we look at some of the basic ideas which economists have used to analyse social policies. We discuss politico-social theories and the role of the state; the concepts of equity and efficiency; the economic justifications for intervention; the economics of insurance, and the measurement of economic welfare and poverty. In the second group we look at some of the main economic issues in six different areas of social policy: financing the welfare state; education; health; housing; poverty, and pensions. Key texts: N. Barr,'The Economics of the Welfare State'. Le Grand, Propper and Robinson,'The Economics of Social Problems'.

### EC20017: Labour economics

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: CW20EX80
 Requisites: Before taking this unit you must take EC10006 and take EC10007
 Aims & Learning Objectives: The aim of this unit is to provide a sustained application and extension of predominantly intermediate microeconomic theory to the labour market. Learning objectives are that students should gain a critical appreciation of the impact of market forces, institutions and regulations within labour markets. The general desirability of government intervention of various types into this area of the economy is a key question students should be able to tackle by the end of the course unit. Content: Labour is the most important single factor of production and the analytical and empirical study of the labour market constitute the content of this course. Topics covered will include: "New" household economics; labour supply and demand and the effects of taxation on labour supply; human capital investment; the distribution of earnings; discrimination and segmentation; economic models of trade unions; search, vacancy and unemployment analysis; minimum wage legislation. Key texts: Bosworth, Dawkins and Stromback,'The Economics of the Labour Market'. J.P. Jacobsen,'The Economics of Gender'.

### EC20018: Mathematical economics

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: CW20EX80
 Requisites: Before taking this unit you must take EC10006 and take EC10007 and take XX10119
 Aims & Learning Objectives: The aim of this Unit is to equip students with an understanding of, and an ability to use, mathematical methods in economics. Students will learn both the fundamental quantitative techniques essential to an economist and how to apply these techniques to a range of economic questions. Learning objectives: By the end of the course unit students should be able to (1) apply the Lagrangian technique to a wide variety of constrained optimisation problems; (2) apply linear algebra techniques to analyse the comparative statics of economic models; (3) analyse the dynamic processes underlying time-series economics. The unit supports and extends the course units in intermediate micro and macroeconomics. Content: The course unit begins with a detailed analysis of the Lagrangian method and its applications: constrained optimisation for the household and the firm; the concept of duality; labour supply choices and optimisation over time; optimisation under uncertainty; expected utility theory and attitude to risk. It then covers linear algebra techniques and applications; solving systems of equations; the quadratic form, second order conditions and the Hessian matrix; comparative statics. The course unit ends by analysing the use of difference and differential equations in economic dynamics. Key texts: C. Birchenhall and P. Grout,'Mathematics for Modern Economics'. A.C. Chiang,'Fundamentals of Mathematical Economics'.

### EC20019: Introduction to econometrics

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: EX60CW40
 Requisites: Before taking this unit you must take EC10004 and take XX10119 and take XX20120
 Aims & Learning Objectives: The aim of the Unit is to provide a simple introduction to econometric methods for students who have some knowledge of statistical hypothesis testing and regression. The unit follows a systematic approach to model building focusing on formulation, estimation, interpretation and evaluation. These concepts will be reinforced through practical workshops, which also provide an opportunity for students to develop investigative skills. The learning objectives are that, at the end of the unit, students should be able to: * Undertake their own regression analysis using statistical software * Interpret regression results using cross-section and time-series data * Appraise the adequacy of regression results and perform appropriate diagnostic procedures Content: Topics covered include: the nature of econometrics, bivariate regression analysis, multiple regression analysis, functional form, specification error, multicollinearity; heteroskedasticity; autocorrelation, simultaneous equation models, stationarity and cointegration. Key texts: D. Gujarati Essentials of Econometrics D. Gujarati Basic Econometrics

### EC20023: Social change and development

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: CW10EX50ES40
 Requisites: Before taking this unit you must take EC10077
 Aims & Learning Objectives: Aims: To introduce students to some of the key concepts and methods used in the social analysis of change and international development, grounding theoretical exploration in practical approaches to particular issues. Learning Objectives: By the end of the unit students should: * Be familiar with some of the key concepts and methods of sociology and social anthropology * Be able to show the significance of these to understanding the processes involved in social change and international development * Be equipped critically to discuss practical experience in a range of contexts in Africa, Asia and Latin America, in a sociologically informed manner. This course unit builds on the foundations laid in ECOI0077 Introduction to International Development. It focuses on development as something that happens: social change. This complements ECOI0043 Governance and the Policy Process in Developing Countries, which considers development as something which is done: policy and programme intervention. Content: Social change and development as essentially contested: both as concepts and as forms of practice. A way of ordering the world by contrasts, around notions of difference: then/now; there/here; them/us. Introduction to the different methods and approaches characteristic of sociology and social anthropology. The questions they bring: social structure; social divisions; cultural meaning; the politics of knowledge and agency. The ways these relate to each other and how they help us to understand the dynamics of social change in rural and urban environments. Methodological issues in conducting and presenting social research in academic and applied contexts. Key texts: Roger Keesing, 'Cultural Anthropology: A Contemporary Perspective' Nancy Scheper-Hughes, 'Death Without Weeping: The Violence of Everyday Life in Urban Brazil'

### EC20043: Governance and the policy process in developing countries

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: ES50EX50
 Requisites: Before taking this unit you must take EC20080
 Aims & Learning Objectives: The aim of this Unit is to provide an explanation of the dynamics of governance and the workings of the policy process in developing countries. The learning objectives are that students should develop a critical understanding of the policy process in the developing country context, applying and extending their knowledge of the key concepts of power and the institutions through which it is expressed. This unit can be studied as a self-contained module, which complements in particular EC20023 Social Change and Development. It also forms part of a specialist stream in the policy process and politics of development with EC30042 The Politics of Developing Countries: Religion, Ethnicity and Nationalism and EC20080 Policy and Politics. Content: Good governance: the genesis of the concept, its practical implications. State, non-state and civil society actors in development. Policy formulation and implementation in developing countries; policy networks; the roles of external donors; corruption. Institutionalizing good governance, promoting inclusionary practice. Key texts: Grindle and Thomas, 'Public Choices and Policy Change: The Political Economy of Reform in Developing Countries' Turner and Hulme, 'Governance, Administration and Development' R. Rhodes, 'Understanding Governance' M. Wuyts, M. Mackintosh and T. Hewitt (eds), 'Development Policy and Public Action' R. Grillo and R.L. Stirrat (eds), 'Discourses of Development. Anthropological Perspectives.'

### EC20045: Placement

 Credits: 60
 Level: Intermediate
 Assessment:
 Requisites:
 Aims & Learning Objectives: The placement period enables the student to gain valuable practical experience. Content: Please see the Director or Studies or course tutor for details about individual placements.

### EC20046: Research & presentation skills for economists

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: CW60OR40
 Requisites: Before taking this unit you must take EC10006 and take EC10007
 Aims & Learning Objectives: The aim of this course unit is to provide students with an environment within which they can develop skills of individual and collaborative research, report preparation, and group presentation of an economic topic using Powerpoint. Topics will be selected to enable students to demonstrate analytical and empirical understanding of the relevance of economics to a contemporary issue. The learning objectives are (1) that students will have acquired the capacity to undertake research on topics of current interest in economic policy which draw on a range of knowledge acquired in other level 2 course units; (2) that students will have worked effectively as members of a small team and will have contributed their fair share; (3) that students will have enhanced their skills in designing and making presentations which will be transferable to the workplace. Content: Topics will be assigned to students who will work in groups of 5 or 6; they will be policy focused topics, related to one or more of the other units being studied, for example, in monetary, fiscal, industrial, development or environmental economics.

### EC20079: Economics of politics

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: EX50CW50
 Requisites: Before taking this unit you must take EC10006
 Aims & Learning Objectives: The aim of this Unit is to apply introductory microeconomic theory to analyse political behaviour. Students will investigate the extent to which a rational choice model sheds insight on political behaviour and political institutions. Thus, the intention is to provide students with an integrative link between their understanding of economic theory and political science. The learning objective is that by the end of the course students will be able to apply introductory microeconomic theory to analyse political behaviour. They will be able to use microeconomics to explain and predict why governments prefer one policy option to another. They will be able to assess the costs involved in democratic decision making processes. They will be able to identify and assess alleged 'failings' of the political processes and associated prescriptions. Content: The course unit begins with a review of microeconomic welfare theory. This is applied to explain and predict the behaviour of politicians, bureaucrats, voters and pressure groups. The implications of adopting different collective decision making rules are investigated. Case studies are used to illustrate theory. Assessment is offered of the public choice school's assertion that government failure leads to an excessively large public sector. Key texts: K.A. Shepsle and M.S. Bonchek,'Analyzing Politics: Rationality, Behavior and Institutions'. J. Cullis and P. Jones,'Public Finance and Public Choice'.

### EC20080: Policy & Politics

 Credits: 6
 Level: Intermediate
 Semester: 1
 Assessment: ES40CW10EX50
 Requisites:
 Pre: Introductory course units in economics and politics Aims & Learning Objectives: The aim of this Unit is to provide an understanding of the concepts and methods which can be employed in the analysis of economic and international development policy. The intention is to provide students with an integrative link between their understanding of economic theory and political science, via a grounding in the principles of policy analysis. Learning objectives: By the end of this course unit students should be able to provide an informed analysis of economic policy processes; understand the role and limitations of rational techniques in policy formulation and appraisal; understand the main factors likely to affect policy implementation in a range of contexts. Students may develop a specialist stream in policy analysis by selecting the second semester unit in Governance and the Policy Process in Developing Countries EC20043. Content: Introduction to policy analysis; the analysis of policy in the context of theories of the state; power and policy; ideology and policy: the case of privatisation; models of policy decision-making; techniques in the policy process: the case of cost-benefit analysis; policy and its implementation; analysing policy in an international context; analysing policy in other cultures. Key texts: M. Hill,'The Policy Process in the Modern State'. M. Hill (ed),'The Policy Process: A Reader'. C. Hood,'Explaining Economic Policy Reversals'. B. Hogwood,'Trends in British Public Policy'.

### EC20081: Economic organisation of the European Community

 Credits: 6
 Level: Intermediate
 Semester: 2
 Assessment: EX80ES20
 Requisites: Before taking this unit you must (take EC10006 and take EC10007) or (take EC10008 and take EC10009)
 ESML students may take this unit provided they have a minimum of Grade B in A level Economics. Aims & Learning Objectives: The aim of this course unit is to apply introductory microeconomic and macroeconomic principles to a range of European policy areas. The learning objective is that students will have enhanced their capacity to think analytically about European economic issues. Content: The following topics will be covered: EU trade policy and the economics of customs unions; Common Agricultural and Fisheries Policies of the EU; fiscal harmonisation and EU budgetary policy; EU environmental policy; EU industrial and competition policy; European Monetary Union and exchange rate arrangements. Key texts: T. Hitiris,'European Union Economics'. M.J. Artis and N. Lee (eds),'The Economics of the European Union'. A. El-Agraa (ed),'The European Union'.

### EC30020: Econometrics 1

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: EX70CW30
 Requisites: Before taking this unit you must take EC20019
 Aims & Learning Objectives: Knowledge of econometrics is an essential part of the toolkit of any economist and econometric techniques are used in a wide range of disciplines, including management, statistics and biological sciences. The aim of this Unit is to build on the second year work in EC20019 and present a rigorous account of econometrics. Learning Objectives: Students should gain an ability to critically evaluate econometric work done by others, in e.g. journals, as well as increase their ability to do their own empirical work. By the end of the semester students will be more confident in their use of matrix algebra, the language of econometrics, and its application to econometric problems. They will have undertaken empirical work using computer packages such as RATS. The emphasis is on both theory and applications in equal measure. Content:The Unit follows Johnston's classic text to a large extent. Specific topics include: ordinary least squares; measures of goodness of fit; two stage least squares; serial correlation; heteroscedasticity; lag structures; errors in variables; measurement errors and Monte Carlo simulation, Granger causality, maximum likelihood and the Cramer-Rao theorem. Key texts: Jack Johnston and John Dinardo 'Econometrics' Pindyck and Rubinfeld,'Econometric Models and Economic Forecasts' Cuthbertson, Hall and Taylor,'Applied Econometric Techniques' Additional material: The lecture notes are stored in the short loan section of the Library. Students will also be referred to additional reading material.

### EC30021: Econometrics 2

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX70CW30
 Requisites: Before taking this unit you must take EC30020
 Aims & Learning Objectives: The aim of this Unit is to build on the work done in the first semester course unit EC30020 Econometrics 1 taking the analysis of econometrics to a higher level. The emphasis is therefore on introducing the students to a wide range of different techniques currently in use in econometrics, enabling them to critically evaluate econometric work done by others, as well as increasing their ability to do their own empirical work. The emphasis is on both theory and applications in equal measure. Learning Objectives: By the end of the semester students will understand a wide variety of econometric techniques and be able to undertake their own econometric analysis making use of those techniques. They will have undertaken empirical work using RATS and LIMDEP. Students should also have the capacity to expand their own knowledge and ability under their own initiative once they have graduated. By the end of the course they will be competent to pursue a masters in this area, but will also have learnt material which will be valuable in a commercial environment. Content: The Unit follows Johnston's classic text to a large extent, although going beyond that in significant areas. Specific topics include: nonlinear least squares; Box Jenkins and ARIMA forecasting; stationarity and cointegration; error correction models; evaluating forecasts; limited dependent variable analysis - binomial, probit, and logit; seemingly unrelated regressions 3SLS. Key texts: Jack Johnston and John Dinardo Econometrics Koutsoyiannis Econometrics Pindyck and Rubinfeld Econometric Models and Economic Forecasts Cuthbertson, Hall and Taylor Applied Econometric Techniques Additional material: The lecture notes are stored in the short loan section of the Library. Students will also be referred to additional reading material.

### EC30024: Economics of development 1

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: ES50EX50
 Requisites: Before taking this unit you must take EC10006 and take EC10007
 Aims & Learning Objectives: The aim of the Unit is to define economic development and review, from both historical and theoretical angles, different explanations for global variation in the rate of economic development, with particular reference to low and middle income countries (L&MICs). The learning objectives of the unit are that students should acquire an improved understanding of: * the extent of global diversity in economic development and implications for human welfare; * explanations for variation in levels of poverty and economic development globally; * how the economies of L&MICs interact with those of high income countries (HICs); * the relevance of economic theory to the analysis of the economic problems and prospects of LMICs; * the relationship between economics and other social science disciplines relevant to understanding economic development. Content: The following topics will be covered: classical models of agrarian transformation and industrialisation; the post-war and current status of development economics; economic development, institutions and culture; trade strategies and the effects of economic liberalisation; economic development and demography; strategies for poverty reduction. Key texts: G.M. Meier (ed), 'Leading Issues in Economic Development' A.P Thirlwall, 'Growth and Development' J.G. Copestake, 'Theories of Economic Development' (on www.bath.ac.uk/deid/j.g.copestake)

### EC30025: Economics of development 2

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: ES50EX50
 Requisites: Before taking this unit you must take EC30024
 Aims & Learning Objectives: The aim of this Unit is to provide an in-depth understanding of selected contemporary issues affecting the economies of selected low and middle income countries (L&MICs). Whereas ECOI0024 (Economics of Development 1) aims to provide a broad overview of the subject, this Unit provides an opportunity to specialise in its application to specific countries and issues, and to analyse economic policy within a broader political economy framework.. By the end of the Unit, students should have a clearer sense of both the strengths and limitations of economic theory and empirical analysis as tools for addressing current policy issues. They should also have a stronger sense of the diversity of problems and policy options facing different countries, and improved skills in using library resources to research a specific country/region and topic. Content: Recent economic performance of selected countries of South Asia, Sub-Saharan Africa and Latin America. Policy options within Washington and post-Washington consensus frameworks. Analysis of selected issues, partially of students' own choice. Examples include the economics of HIV/AIDS, comparative analysis of economic performance across countries and states, approaches to management of Dutch Disease, agrarian structure and the economics of land-reform, public policy and GM crop technology, conditionality and the management of aid, debt management, child labour, international migration, conflict and reconstruction. Key reading is from recent editions of relevant journals: World Development, Journal of Development Studies, Development and Change, Economic Development and Cultural Change, Journal of African Economics, Economic and Political Weekly, etc.

### EC30026: Economics of transition

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: ES20EX80
 Requisites: Before taking this unit you must take EC10006 and take EC10007 and take EC20010 and take EC20011
 Politics with Economics students may substitute any two second year economics units for EC20010 and EC20011. Aims & Learning Objectives: The aims of the Unit are to use economic analysis to understand the changes which are taking place in Central and Eastern Europe and the former Soviet Union, and to develop a critical awareness of the problems which have beset transition, and an appreciation of their possible solutions. The learning objectives include the students being able to describe the process of transition; to demonstrate an awareness of the role played by the legacy of planning in the present state of transition; and to show the weaknesses in present policies and to outline how progress might be possible. Content: Topics covered will include measuring transition; the planned economy and legacy of planning under communism; the speed and sequencing of transition policies; privatisation; financial markets; governance and corruption. Key texts: D. Gros and A. Steinherr, 'Winds of Change'. M. Lavigne, 'The Economics of Transition: from Socialist Economy to Market Economy'. C.W. Lawson, 'Economic Transition from Planned to Market Economies 1989-1999'. UNESCO 2001, available on short loan, 002-0032.

### EC30027: International monetary economics

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: ES20EX80
 Requisites: Before taking this unit you must take EC20010 and take EC20011
 Aims & Learning Objectives: The aim of the Unit is to present a fairly rigorous account of the material that relates to monetary aspects of an open economy. Students will gain a critical appreciation of the theoretical tools used in this important area of economics and a robust analytical framework for the interpretation of policy. The learning objective is that, at the end of the course unit, students will understand the way in which economic theory can be applied to issues such as (i) the use of fiscal and monetary policies in open economies; (ii) UK balance of payments policy; (iii) the workings of the foreign exchange market; (iv) the European monetary system and the issue of UK membership. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in International Economics, with EC30034 International Trade. Content: The course unit emphasises debate mainly at the theoretical level, by generally contrasting a Keynesian real side approach with a more classically inspired monetary approach. Specific topics include: the nature and significance of the balance of payments; parity concepts; the efficient markets hypothesis; devaluation; open economy macroeconomics; flexible versus fixed exchange rates; the foreign trade sector, Europe and international policy co-ordination. Key texts: L.S. Copeland,'Exchange Rates and International Finance'. P. Hallwood and R. MacDonald,'International Money and Finance'. K. Pilbeam,'International Finance'.

### EC30028: Economic growth & natural resources

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: ES20EX80
 Requisites: Before taking this unit you must take EC20010 and take EC20011
 Aims & Learning Objectives: The aim of the Unit is to provide a fairly sophisticated account of theories of economic growth and of natural resource use, leading on to a discussion of the concept of sustainable development. Though the course draws on some techniques of dynamic optimisation, the emphasis is on economic intuition and empirical relevance rather than rigorous mathematical proof. Learning objectives: By the end of the course unit students should be able to critically appraise the analytical models and empirical evidence used by economists relating to: 1. the causes of differences in long-term comparative growth performance across countries and regions 2. the determinants over time of the available stocks and prices of various natural resources, such as fossil fuels, metals, fish and timber 3. the efficiency and equity of various ways of managing natural resources, including the implications of these for biodiversity 4. the likelihood of economic growth being sustainable in the long-term taking into account the effects of population growth, technical progress and natural resource depletion. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in the Economics of Natural Resources and the Environment, with EC30029 Environmental Economics. Content: The course unit covers the following topics: The neo-classical model of growth and the empirical record; savings and optimal growth; endogenous growth; depletion of exhaustible resources; management of renewable resources; intergenerational equity; sustainable development. Key texts: Perman, Ma and McGilvray and Common,'Natural Resource and Environmental Economics'. Charles I. Jones,'Introduction to Economic Growth'.

### EC30029: Environmental economics

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20010
 Aims & Learning Objectives: The aim of the Unit is to provide an economic perspective on environmental regulation and on the management of natural resources. Students will gain an understanding of the economic framework that is used to identify effective solutions to problems of environmental resource use and externalities. The unit will also provide an understanding of the application of environmental economics to important policy issues. The learning objectives of the unit include knowledge of the economic tools used to value environmental impacts and natural resource use and to design cost effective methods of controlling pollution and avoiding misuse of the natural environment. The need to reconcile the objectives of economic development with environmental conservation will be explained, as will some international aspects of environmental protection. This will give students an understanding of the issues and theory behind environmental policy as well as an academic grounding appropriate for undertaking more advanced study in the field of environmental economics. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in the Economics of Natural Resources and the Environment, with EC30028 Economic Growth and Natural Resources. Content: The course unit will discuss the welfare economic basis of environmental economics and why market systems do not provide adequate environmental protection. It will go on to study different methods of valuing the environment and on regulating it in a national context. Finally it will deal with the theme of environment and development, and the idea of sustainable development. Key texts: Perman, Ma and McGilvray,'Natural Resource and Environmental Economics'. Hanley, Shogren and White,'Environmental Economics'.

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20010
 Aims & Learning Objectives: The aim of this Unit is to build on intermediate microeconomics and to introduce some of the theory that underlies much of the more recent academic research. Learning objectives: By the end of the Unit students will have acquired: (i) an understanding of the scope of modern microeconomics and its applications, (ii) an ability to read and understand current literature in microeconomics and (iii) an ability to use advanced microeconomic concepts in analysing specific issues. By the end of the unit students will be sufficiently competent in microeconomics to pursue a masters in Economics. Content: The Unit covers topics that deal with three inter-related issues: decision making under uncertainty; the strategic behaviour of economic actors; the use of information. Topics in 2000/1 included: expected utility theory; game theory and applications; asymmetric information - theory and applications. Key texts: J. Hirshleifer and J.G. Riley, 'The Analytics of Uncertainty and Information'. D. Kreps, 'A Course in Microeconomic Theory'. I. Molho, 'The Economics of Information'.

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20011
 Aims & Learning Objectives: The aim of this Unit is to build on second year macroeconomics and to help students to achieve a critical understanding of recent macroeconomic research on key issues such as unemployment, inflation and the business cycle. Learning objectives: By the end of the Unit students should be able to evaluate new contributions to the macroeconomic literature, including policy research carried out by government and independent economists. By the end of the unit students will be sufficiently competent in macroeconomics to pursue a masters in Economics. Content: Unemployment, inflation and business cycles in the main "schools" of macroeconomics. The macroeconomic framework; policy credibility and monetary and fiscal policy. Modern treatment of the Phillips curve. Explanations of the "natural rate" of unemployment; real wage and price pressures; nominal wage and price rigidity; job search, benefits and unemployment duration; efficiency wages and unemployment; insiders, outsiders and hysteresis. New classical theory, unemployment and the equilibrium business cycle; the real business cycle and critiques and modifications of it; multiplier-accelerator and the treatment of upper and lower turning points; welfare losses due to the business cycle, empirical evidence. Key text: B. Snowdon and H.R. Vane, 'A Macroeconomic Reader', Macmillan 1997.

### EC30032: Final year research project 1

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: CW100
 Requisites: Before taking this unit you must take EC20046
 Aims & Learning Objectives: These Units can only be taken together, and form a two semester period of study on a single topic of the student's choice. The aim of the research project units is that students will learn how to design and carry out research on a specific economic question, and be empowered to clearly communicate the content of this research to others. Students who have taken EC20046 Research and Presentation Skills will be building on and developing skills acquired in the second year. Students on the degree Programme in Economics and Politics may select a topic which relates to political science, but will be encouraged to demonstrate skills of economic and political analysis. Learning objectives: By the end of these Units students should have demonstrated that they can frame a research question and undertake sustained analysis using a range of sources. They will have enhanced many transferable skills valuable in the labour market and be well prepared for study at the Masters level. Content: The topic will be chosen by the student. From September-December the task will involve independent study supported by workshops in which students will make presentations of their research. Thereafter, students will work under the regular guidance of their supervisor, submitting the finished project by the end of the first week of the summer term.

### EC30033: Final year research project 2

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: CW100
 Requisites: Before taking this unit you must take EC30032
 Aims & Learning Objectives: These Units can only be taken together, and form a two semester period of study on a single topic of the student's choice. The aim of the research project units is that students will learn how to design and carry out research on a specific economic question, and be empowered to clearly communicate the content of this research to others. Students who have taken EC20046 Research and Presentation Skills will be building on and developing skills acquired in the second year. Students on the degree Programme in Economics and Politics may select a topic which relates to political science, but will be encouraged to demonstrate skills of economic and political analysis. Learning objectives: By the end of these Units students should have demonstrated that they can frame a research question and undertake sustained analysis using a range of sources. They will have enhanced many transferable skills valuable in the labour market and be well prepared for study at the Masters level. Content: The topic will be chosen by the student. From September-December the task will involve independent study supported by workshops in which students will make presentations of their research. Thereafter, students will work under the regular guidance of their supervisor, submitting the finished project by the end of the first week of the summer term.

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: ES20EX80
 Requisites: Before taking this unit you must take EC20010 and take EC20011

### EC30035: Public expenditure & public choice

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20010 and take EC20011
 Aims & Learning Objectives: The aim of the Unit is to provide an economic perspective on decisions which are made with respect to government expenditure programmes. The learning objective is that at the end of the course unit students will be able to (i) understand the theoretical basis of techniques such as cost benefit analysis (ii) be able to advise on 'shadow pricing' (iii) be able to assess how well any cost benefit analysis has been carried out (iv) understand how microeconomic theory can be applied to the process of decision making on public expenditure programmes (v) be able to assess the importance of new literature concerning the 'public choice' approach. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in Public Finance, with EC30036 The Economics of Taxation. Content: The course unit begins with a review of welfare economics (public expenditure analysis is applied welfare economics). Market failure and the rationale for government intervention is assessed. The impact of alleged 'failings' in the political process is also assessed. The behaviour of voters, political parties, bureaucrats and pressure groups is analysed using microeconomic theory. The growth of the public sector is considered in terms of both market and government failure. Techniques for public sector appraisal are discussed. Key texts: J. Cullis and P. Jones,'Public Finance and Public Choice'. D. Mueller,'Public Choice II'.

### EC30036: Economics of taxation

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20010 and take EC20011
 Aims & Learning Objectives: The aim of the Unit is to provide an economic perspective on taxation and an understanding of the criteria which can be used to assess different taxes. The learning objective is that, by the end of the course unit, students will be able to appraise tax reform against a set of criteria (which include efficiency and equity). For example, students will understand and assess how taxes affect: (i) resource allocation (ii) incentives to work and save (iii) the allocation of corporate investment and (iv) the income distribution. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in Public Finance, with EC30035 Public Expenditure and Public Choice. Content: The course unit begins with an analysis of the welfare costs of taxation. Tax incidence is discussed. The effect of tax on work effort, saving and risk taking is explored (and, in particular, the claims of 'supply-side economists' are assessed). Tax expenditures (e.g. tax relief for charitable giving) are appraised. Tax evasion and policy to deter tax evasion is discussed. International taxation is considered. The choice between taxation and government borrowing is examined. Key texts: J. Cullis and P. Jones,'Public Finance and Public Choice'. C.V. Brown and P.M. Jackson,'Public Sector Economics'. G. Myles,'Public Economics'. R. Jha,'Modern Public Economics'.

### EC30037: Macroeconomic modelling

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX80ES20
 Requisites: Before taking this unit you must take EC20011 and take EC20019
 Aims & Learning Objectives: The aim of the Unit is to provide a thorough grounding in the practice, techniques and limitations of macroeconomic modelling. The unit will review the use of simple macroeconomic models and their application in a policy context as well as the more sophisticated models used by the Treasury, for example. Learning objectives: By the end of the course unit students should be able to understand how to build a macroeconomic model and use it in the forecasting/policy arena. Having gained such knowledge they will then be in a position to understand the process behind modelling and forecasting which will allow them to critically evaluate such material within a commercial or policy environment. Content: The first part of the Unit will teach the student the principles of model building, in the following stages: model specification; model simulation; model testing; forecasting; industry models. The second part of the Unit looks at optimal policy making using macroeconomic models. The third part of the Unit looks at specific macroeconomic models, particularly of the UK economy, together with the problems model builders face and the direction in which they have been moving in recent years. Key texts: J. Hudson and Dymiotou-Jensen, 'Modelling a Developing Country: A Case Study of Cyprus'. K. Wallis (ed), 'Models of the UK Economy'. Pindyck and Rubinfeld, 'Econometric Models and Economic Forecasts'. Additional material: The lecture notes are stored in the short loan section of the Library. Students will also be referred to additional reading material.

### EC30040: A history of international relations theory

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: EX50ES50
 Requisites: Before taking this unit you must take EC10078
 Aims & Learning Objectives: The aim of this Unit is to provide students with an understanding of the main concepts, theories and perspectives used to study international relations, and to introduce them to the historical development of those aspects of international relations theory that are relevant today. By examining how different types of historical international systems have existed in the past, what caused wars to occur and what helped to maintain peace, students will have a better idea of the causes of conflict and cooperation today. Learning objectives: By the end of this course unit students should be able to do the following: * identify the main perspectives of international relations * explain the key Western thinkers and their ideas which contributed to the main perspectives on international relations * explain how the key thinkers, ideas and concepts are related to the development of different historic international systems. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in international relations with EC30041. Content: An historical survey of the main theories of international relations and the main historical state-systems in which they arose: the Greek-state system, the middle ages, the Renaissance and the emergence of the modern state system. The course unit examines a series of important, enduring questions in international relations theory about international systems: (1) what were the origins of different international systems; (2) what factors contributed to order and stability; and (3) what factors promoted not only disorder and instability, but also system-wide change, the change to to an entirely different type of international system. Key texts: Michael Doyle,'Ways of War and Peace: Realism, Liberalism, and Socialism'. Torbjorn Knutsen,'A History of International Relations Theory'. Joseph Nye,'Understanding International Conflicts: An Introduction to Theory And History'.

### EC30041: Contemporary international politics

 Credits: 6
 Level: Honours
 Semester: 2
 Assessment: EX50ES50
 Requisites: Before taking this unit you must take EC10078
 Aims & Learning Objectives: The aims of this Unit are to provide students with an understanding of how contemporary thinkers have contributed to the main perspectives of international relations; to consider the impact of globalisation on international relations; to show how international conflict has changed in the twentieth century, particularly since the end of the Cold War; to provide students with an understanding of how diplomacy has changed in the twentieth century. Learning objectives: By the end of the course unit students should be able to: * critically evaluate the main perspectives of international relations * explain the impact of the end of the Cold War on global security * explain what international relations scholars mean by globalisation, and critically evaluate what impact it has had on international relations * explain how the changing nature of international conflict has posed new challenges for humanitarian organisations in developing countries Although the unit can be studied as a self-contained module, it forms part of a specialist stream in international relations with EC30040. Content: Topics include how International Relations has changed since the end of the Cold War, the State, and non-state actors, the balance of power, problems of diplomacy, international organisation, war and international conflict, nationalism, religion and international stability and international political economy. A set of themes emerge from these topics that are ethical in nature: the relationship between order and justice, state sovereignty and humanitarian intervention, the nature and meaning of international obligation in a society of sovereign states, the idea of universal human rights and cultural relativism, and ways of maintaining international order: the balance of power, international regimes, and new approaches to global governance. Key texts: J. Goldstein,'International Relations'. C. Kegley and E. Wittkopf,'World Politics: Trend and Transformation'. Gordon Graham,'Ethics and International Relations'.

### EC30042: Politics of developing countries: ethnicity, religion and nationalism

 Credits: 6
 Level: Honours
 Semester: 1
 Assessment: ES50EX50
 Requisites: Before taking this unit you must take EC10078
 Aims & Learning Objectives: Two of the most important developments at the end of the Twentieth Century are the global spread of democracy and the resurgence of religion, ethnicity and nationalism in politics. Therefore the aim of the Unit is to provide students with an understanding of the ongoing saliency of ethnicity, religion and nationalism to the politics of selected post-communist and developing countries. The learning objectives are that by the end of the course unit students should be able to: * critically evaluate the role of ethnicity, religion and nationalism in the main perspectives of development * understand the role of religion and revolution in South Africa, Poland and Latin America * understand the role of Islam in different types of Muslim countries * understand how religion challenges the secular state in India, Turkey, Algeria and Egypt. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in the Policy Process and Politics of Development with ECOI0043 Governance and the Policy Process in Developing Countries and ECOI0080 Policy and Politics. Content:Introduction to the politics of developing countries; the concepts of ethnicity, religion and nationalism; the transition to democracy; the consolidation of democracy. Case studies of: Poland, Yugoslavia, South Africa, Turkey, India, Algeria, Egypt and Latin America. Key texts: J. Esposito and J. Voll,'Islam and Democracy'. Jeff Haynes,'Religion and Politics in the Third World'. Jeff Haynes,'Religion in Global Politics'. David Westerlund (ed),'Questioning the Secular State'.

### EC50068: Regional specialism

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES100
 Requisites:
 -
 Aims & Learning Objectives: The aim of the Regional Specialism is to allow students the opportunity to develop a more in depth understanding of key issues in a particular region of the developing world. This is regarded as an important element of the programme objectives both for those intending to go on to do work in development and for those who have research interests. Content: Regional Specialisms on offer will depend in part upon demand and upon staff availability, but are likely to include most of the following: South Asia, Southeast Asia, Sub-Saharan Africa, Latin America and Eastern Europe. Within each region on offer there will be three parts to the unit. Part 1 comprises a review of major economic, social, and political trends in a particular region, contemporary development debates and related literature. Part 2 comprises individual or small group tutorials aimed at helping each student to identify a substantive essay topic of their own choice. These topics are likely to draw on material covered in other units that don't have a regional focus. In this way the Regional Specialism option provides a way for students to develop expertise in particular regions by applying what they are learning in other units. Part 3 comprises a series of seminar presentations and discussions based on students essay topics.

### EC50050: Policy theory & process

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: CW100
 Requisites:
 Aims & learning objectives: Aim: to establish the theoretical frameworks necessary for conceptualising and analysing the policy process. Learning Objectives: * to ensure that students are familiar with key concepts from political science necessary for the analysis of policy * to make them aware of a range of 'actors' in the policy process and place them in theoretical context * to develop an awareness in the students of the relevance of the concepts to their own area of policy * to familiarise students with the conceptualisations of policy as a cycle and as a process involving inter-related stages * to make them aware of the determinants in setting policy agendas and the key actors involved in formulation * to understand the major models of policy decision-making * to make them aware of both theory and reality of policy implementation * to introduce them to approaches and methods of policy evaluation * to allow them to reflect on the role of the policy analyst in the policy process. Content: Part i): Politics and policy analysis; Theories of the state; Theories of power; Organisations and institutions; Street-level bureaucrats; Organised interests and civil society. Part ii): Policy as a process - agenda setting; Policy formulation; Models of decision-making; Implementation; Policy evaluation; Theory, ideology and the policy process.

### EC50054: Cost benefit analysis with environmental & other applications

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX50ES50
 Requisites:
 Aims & Learning Objectives: 1.To equip students with an understanding of the principles of CBA and project appraisal, enabling a critical evaluation of appraisal reports. To provide foundational material for those seeking to undertake their own appraisal exercises. 2. To develop these skills in the context of environmental and other case studies. Content: 1. The course is designed to contrast CBA and project appraisal in a way that isolates the theoretical underpinnings of both. The theme of the material is that the problem addressed in both literatures is very similar although there are significant differences of emphasis. Techniques for measuring costs and benefits and for introducing equity weights into the analytical framework are central to the course. 2. Evaluation of environmental and other case studies and preparation of an outline appraisal for a selected environmental project.

### EC50059: Economics of development

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: CW100
 Requisites:
 Aims & Learning Objectives: Aims: to review microeconomic concepts and models relevant to understanding how economists analyse problems of scarcity; to review theories of economic growth and transformation with particular reference to low and middle income countries; to assess the strengths and weaknesses of economic reasoning, particularly in relation to development and environment. Learning outcomes: to be familiar with the language and methodology employed by economists; to understand the strengths and weaknesses of economic explanations of development and underdevelopment; to be understand how far professional economists can contribute to resolving specific development problems. Content: Part 1. The foundations of economics: economic methodology; demand theory; production theory; market structure and capitalist dynamics; meso, multi-market and macro models; Pareto efficiency and cost benefit analysis. Part 2 . Neoclassical growth theory and its critics; aggregate demand and growth multipliers; economic dualism; planned industrialisation; industrialisation and trade policy; stabilisation and adjustment.

### EC50060: International development: contested themes

 Credits: 3
 Level: Masters
 Semester: 1
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: Aims: * to familiarise students with a history of ideas about development; * to introduce alternative paradigms for thinking about development; * to enable students to share conceptions of the development process. Learning outcomes: * a clearer understanding of how student's own ideas and experiences of development relate to the wider literature on the subject. Content: Development ideology and practice; development studies as a post-colonial discipline; dependency and globalisation; actors' struggles; development ideas and gender; donor fashions.

### EC50061: Sociology & social anthropology of development

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: Aims: to familiarise students with the aims and methods of sociology and social anthropology, to introduce them to the kinds of issues sociologists and social anthropologists raise in the development context, and to equip them with some social analysis tools of relevance to the practice of international development. Learning objectives: General skills: active learning, working in groups, doing presentations, writing, critical analysis, imagination and empathy, synthesis, trawling literatures Social development skills: recognising that policies and projects always involve real people and the related implications, appreciation of empirical diversity and complexity, discourse analysis, analysis of dynamic interactions between social power structures and social actors, understanding of unintended consequences, use of empirical material. Content: The world, the social sciences and you; knowledge, meaning and power, social structures and power; social actors and power; dynamic social systems; the 'development project', inequality, coercion and social suffering; social development for 'real societies'; social analysis of macroeconomic policies; social analysis of sector policies, doing social development.

### EC50063: Policy theory & the politics of developing countries

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: Aim: To establish the political theoretical frameworks necessary for the analysis of policy and then to introduce the wider concepts, ideas and questions that are fundamental to the study of politics in developing countries Learning Outcomes: to ensure that students are familiar with key concepts from political science necessary for the analysis of policy; to make them aware of a range of 'actors' in the policy process and place them in theoretical context; to develop an awareness in the students of the relevance of the concepts to development policy; to allow students to critically evaluate the ways in which Western political theory has been applied to developing countries; to make them aware of the main issues in defining the transition to democracy and in its consolidation in developing countries; to develop an awareness of the impact of religion and ethnicity on notions of nationhood and political stability. Content: Part 1: Politics and policy analysis; Theories of the state; Theories of power; Organisations and Institutions; Street-level bureaucrats; Organised interests and civil society. Part 2: State and society in the Third World; Democracy and political participation; Political culture and political stability; Culture and economic and political development; Ethnicity and politics; Religion and politics.

### EC50066: International development: dissertation preparation

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: CW100
 Requisites:
 Aims & Learning Objectives: Aims: to develop skills in formulating a research question and planning a possible answer; to develop skills in preparing and giving presentations; to develop skills in locating and organising suitable data and literature for a dissertation. Learning outcome: to be able to identify a feasible postgraduate dissertation topic, and present it in a coherent way both orally and on paper. Content: The unit comprises two phases. Phase 1 consists of an intensive weak during which students come up with a possible dissertation topic. They discuss it in small groups, as well as with a tutor and present a draft dissertation synopsis both on paper and orally. Phase 2 lasts for the duration of the spring semester, during which students are expected to broaden their literature search, adapt and improve their dissertation synopsis.

### EC50067: Globalisation, development & international relations

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES70EX30
 Requisites:
 Aims & Learning Objectives: To examine those aspects of international relations that influence political and economic development in the Third World. It focuses the way the Cold War has influenced the international political order and the institutions and structure of the international economic order, particularly the way in which these may help or hinder the development. Content: The competing paradigms of I.R. and development, the maintenance of international order and stability, great powers and the Third World, foreign policy analysis, the UN, what it is and how it operates, humanitarian aid and relief, the laws of war, war crimes and human rights, the globalisation thesis, international economic institutions, the management of the global commons, trade policy and trade regimes, the arms trade, international investment, debt problems, aid and conditionalities.

### EC50068: Regional specialism

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: The aim of the Regional Specialism is to allow students the opportunity to develop a more in depth understanding of key issues in a particular region of the developing world. This is regarded as an important element of the programme objectives both for those intending to go on to do work in development and for those who have research interests. Content: Regional Specialisms on offer will depend in part upon demand and upon staff availability, but are likely to include most of the following: South Asia, Southeast Asia, Sub-Saharan Africa, Latin America and Eastern Europe. Within each region on offer there will be three parts to the unit. Part 1 comprises a review of major economic, social, and political trends in a particular region, contemporary development debates and related literature. Part 2 comprises individual or small group tutorials aimed at helping each student to identify a substantive essay topic of their own choice. These topics are likely to draw on material covered in other units that don't have a regional focus. In this way the Regional Specialism option provides a way for students to develop expertise in particular regions by applying what they are learning in other units. Part 3 comprises a series of seminar presentations and discussions based on students essay topics.

### EC50069: Rural & urban livelihoods

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES70EX30
 Requisites:
 Aims & Learning Objectives: The aim of this unit is to provide an in-depth understanding of selected issues concerning the livelihoods of people in developing countries, combining sociological and economic perspectives. Learning outcomes: Students will appreciate the diversity of livelihood profiles and contexts in developing countries, understand how economic aspects of livelihoods are embedded in the key concerns of sociology: social relations, social structure and social identity, be aware of the way in which macro level influences affect livelihood opportunities, especially the influence of economic reform processes, be able to critically assess the impact of policies at both micro and macro level on livelihood strategies. Content: The first half of the course considers the spatial framing of development implicit in the rural/urban contrast. It then considers the social dimensions of a range of livelihood challenges faced by poor people and the measures that are taken to meet these. The course will then move on to consider macro and micro level influences on rural and urban livelihoods. The emphasis is on the impact of reforms such as 'structural adjustment', and the proliferation of NGO programmes, the constraints people face in adjusting their livelihood strategies and the mix of outcomes that results.

### EC50070: Environmental management & sustainable development

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX50ES50
 Requisites:
 Aims & Learning Objectives: To show how considerations of both economic efficiency and distributional equity should inform decisions about the management of the environment and natural resources; to relate these decisions to differing views on the definition and desirability of sustainable development; to use these models to evaluate observed practice in environmental and natural resource policy in developing economies. Content: Efficiency, equity, and the market; defining and analysing common property resources; modelling exhaustible and renewable natural resource use; concepts and measures of sustainability; practice and policy in environmental and natural resource management in developing economies, with particular reference to common property resources; the international context.

### EC50071: Management of development

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES70EX30
 Requisites:
 Aims & Learning Objectives: Aim: To introduce students to key issues in the contemporary management of development. Learning Outcomes: Participants should develop an awareness of trends in contemporary development practice understand how the management of development fits with a wider analysis of the development policy process. Content: The unit involves a review of process and blue-print approaches to project cycle management (including the use of logical framework, cost-benefit, and stakeholder analysis, contracting and performance assessment) with particular reference to microenterprise development. It also analyses wider structures and systems of administration and governance, illustrated with reference to structural adjustment and public (including health) sector reform programmes. In both parts the emphasis will be on bringing out the relationship between development practices and underlying issues, including participation, power, sustainability, rationality. Content: Introduction: Policy, Programmes and Projects; Managing Organisations, Managing People; Project Appraisal; Appraisal exercise; Project Identification and Design. Identification; Identification and Design exercise; Interventions and Internal Relationships; External Relationships; Service Delivery; Service Delivery exercise; Intervention Evaluation; Evaluation exercise; Conclusion: Managing Development and Poverty Eradication.

### EC50075: Development research

 Credits: 3
 Level: Masters
 Semester: 1
 Assessment: ES100
 Requisites:
 Before taking this unit you must take SP50077
 Aims & Learning Objectives: Aim. To explore the creation of knowledge to inform ourselves about processes of change, explanations of behaviour and the design of appropriate interventions in developing countries. Learning Outcomes. Participants in the course should be able to: understand the main methodologies that have been applied in the study of the processes of development; critically assess the appropriateness of methodologies underpinning empirical studies; recognise some of the main constraints on research in developing country contexts. Content: The course consists of a series of lectures and discussions. Where possible actual research projects will be used to illustrate discussions. 'Introduction: Resources and the Construction of Persuasion' 'Experts and Participation: Inland Fisheries in South and Southeast Asia' 'Confronting Reality in Kenya: Researching Real Markets' 'Quantitative Data in/on Developing Countries' 'Researching International Policy: Interviewing in the Policy Process' 'Qualitative Research in Developing Countries'.

### EC50087: Environmental dissertation workshop

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: ES80OT20
 Requisites:
 Aims & Learning Objectives: To improve skills in formulating a research question and planning a possible answer; to develop skills in researching relevant literature and provide a literature review; to begin the process of identifying a dissertation topic; to improve skills in preparing and giving presentations. Content: Identifying a research topic and making use of available resources. Group based development of dissertation topics. Production and presentation of dissertation synopsis.

### EC50089: Introduction to environmental economics

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX50CW50
 Requisites:
 Aims & Learning Objectives: 1. To introduce the toolkit of microeconomic concepts and models that are essential to understanding how markets handle problems of scarcity relative to potentially unlimited needs and wants, particularly in relation to development and environment. 2. To develop the microeconomic concepts which are especially applicable to environmental issues. Content: 1. Economic methods and demand theory; pricing and output decisions; market structure; factor markets and multi market models; key concepts in welfare economics; cost benefit analysis. 2. Basic concepts of environmental economics; private and social costs and benefits; time and discounting; economic instruments for environmental management.

### EC50095: Integrating environmental workshop & exam

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX100
 Requisites:
 Aims & Learning Objectives: To strengthen the ability of students to analyse and evaluate current environmental debates in a holistic and interdisciplinary manner. Content: 1. Group based revision sessions, focusing on reviews of the applicability of various disciplinary perspectives to selected environmental issues (e.g. urban traffic management, conservation of threatened species) 2. Preparation for an integrated examination intended to link together the various disciplinary perspectives of the degree programme.

### EC50098: International development extended essay

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: The aim of these courses will be to allow study fellows the opportunity to develop a more in depth understanding of a key development issue of their own choice. Content: This unit is intended primarily for those with strong research career interests, or a clear vocational specialism who can thereby justify focusing on a particular issue, and who have demonstrated a capacity for self-guided work. The extended essay should be on a topic that is distinct from their intended dissertation topic or regional specialisation essay. This unit may be linked to a placement or internship within a particular development organisation.

### EC50099: International development: Masters dissertation

 Credits: 30
 Level: Masters
 Dissertation period
 Assessment: DS100
 Requisites:
 Before taking this unit you must take EC50066
 Aims & Learning Objectives: Aims: To give students the opportunity to identify a feasible research question and relate it to relevant literature and empirical material and to develop a cogent and credible argument that addresses the research question, and to do this within a fixed time period. Learning outcomes: An ability to define and answer a research question in a chosen area of interest, to support the argument with relevant empirical evidence and/or reference to appropriate theory, to link together arguments from disparate literatures or disciplinary perspectives, and to do all the above in written form in a dissertation that conforms to acceptable standards of presentation and expression, and to a fixed deadline. Content: Any area of Development studies for which an adequate level of supervision can be offered.

### EC50100: International development: diploma dissertation

 Credits: 12
 Level: Masters
 Dissertation period
 Assessment: DS100
 Requisites:
 Aims & Learning Objectives: To draw upon issues covered by the certificate and diploma stages of the Masters in International Development to explore a development issue of particular interest or career relevance. Content: Any area of development studies for which an adequate level of supervision can be offered. This unit may be linked to a placement or internship within a particular development organisation.

### EC50101: MSc ESPP dissertation

 Credits: 30
 Level: Masters
 Dissertation period
 Assessment: DS100
 Requisites:
 Aims & Learning Objectives: To develop the autonomous critical abilities of students. To demonstrate the application of their theoretical and practical learning on the course in an extended interdisciplinary exploration of an agreed environmental issue of particular interest to them. Content: Any environmental issue for which an adequate level of supervision can be offered.

### EC50102: Dip ESPP extended essay

 Credits: 30
 Level: Masters
 Semester: 2
 Assessment: CW100
 Requisites:
 Aims & learning objectives: To draw upon issues covered in the course to explore an agreed environmental issue of particular interest or career relevance. Content: Any environmental issue for which an adequate level of supervision can be offered.

### EC50105: International development: towards synthesis

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX100
 Requisites:
 Before taking this unit you must take EC50060
 Aims & Learning Objectives: Aims: To provide students with the opportunity to identify the links between different perspectives on development; to enable them to develop a coherent multidisciplinary framework for analysing development issues. Learning outcomes: A clearer, more coherent and comprehensive grasp of core issues in development studies, drawing upon good understanding of its disciplinary foundations. Content: 1. A review of the relationships between economic, social and political contributions to understanding individual identity, interpersonal (including gender) relationships; household and livelihood profiles , collective action, the role of the state and international relations. 2. Reflection on the relationship between different philosophical and ideological approaches to the analysis of development problems. 3. An opportunity for students themselves to construct a framework that links together all the units offered under the Certificate stage of Masters in International Development.

### EC50109: International development: poverty & policy

 Credits: 3
 Level: Masters
 Semester: 1
 Assessment: PR100
 Requisites:
 Aims & Learning Objectives: Aims: * to introduce students to the different ways in which poverty has entered debates over how development assistance should be organised * to relate these to wider development paradigms * to consider how these paradigms have affected donor and government policies. Outcomes: * students should have a critical understanding of issues around the conceptualisation and measurement of 'poverty' and related explanations, ideologies and recommendations for praxis. * they will have improved group-work, analytical, critical and empirical research skills, and be better able to deal with 'terms of reference', and to make links between values, explanations, concepts, measures, empirical material, policy and policy outcomes. Content: The experience of poverty; development paradigms and the conceptualisation and measurement of poverty; development paradigms and the causes of poverty; social policy for developing countries; development paradigms and anti-poverty praxis; country case studies.

### EC50111: Politics of developing countries

 Credits: 3
 Level: Masters
 Semester: 1
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: Aim: To introduce the concepts, ideas and questions that are fundamental to the study of politics in developing countries. Learning objectives: * to allow students to critically evaluate the ways in which Western political theory has been applied to developing countries * to make them aware of the main issues in defining the transition to democracy and in its consolidation in developing countries * to develop an awareness of the impact of religion and ethnicity on notions of nationhood and political stability. Content: State and society in the Third World; Democracy and political participation; Political culture and political stability; Culture and economic and political development; Ethnicity and politics; Religion and politics.

### EC50113: Managing sustainable development in differing societies

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: ES100
 Requisites:
 Aims & Learning Objectives: Aims: 1. To review systematically, and to evaluate critically, the application of different approaches in the specific areas of business-society interactions in which students are specialising; 2. to equip students with the skills to contribute to the identification and analysis of problems in the field of business-society relationships using appropriate social science methodologies; in particular to: 3. show how considerations of both economic efficiency and distributional equity should inform decisions about the management of the environment and natural resources; and to 4. relate these decisions to differing views on the definition and desirability of sustainable development; with reference to 5. use of these models to evaluate observed practice in environmental and natural resource policy in developing economies and to 6. assess one case study from a developed economy. Learning Objectives: * an awareness of inter-disciplinary consideration in researching contemporary business; * relevant knowledge of contemporary economic, social and political developments and their relevance for social science research in given business areas * synthesise information from a variety of academic perspectives and non-academic sources for a relevant understanding of theoretical and practical approaches * develop skills to reflect on the suitability of diverse approaches for investigating and analysing problems * reflect on the appropriateness, strengths and weaknesses of management and social science theories, perspectives and policy making. Content: Efficiency, equity and the market; defining and analysing common property resources; modelling exhaustible natural resource use; concepts and measures of sustainability; practice and policy in natural and environmental resource management.

### EC50115: International development: Masters dissertation with placement

 Credits: 30
 Level: Masters
 Dissertation period
 Assessment: DS100
 Requisites:
 Before taking this unit you must take EC50066
 Aims & Learning Objectives: Aims. To give students the opportunity: to gain first hand experience of a host development organisation; to identify a feasible research question through observation and dialogue within the host organisation, to relate this question to relevant literature; to develop a cogent and credible argument in relation to the question within a fixed time period; to contribute to the host organisation's understanding of the issue. Learning outcomes: an ability to define and answer a research question of relevance to a specific development organisation; to support the argument with relevant empirical evidence and/or reference to appropriate theory; to produce a written dissertation to an agreed deadline that conforms to acceptable standards of presentation and expression. Content: Any area of development studies for which an adequate level of supervision can be offered, and which is linked to an agreed placement with a development organisation. The nature of the placement may vary. At the minimum it should comprise a structured set of meetings and agreement to share information with the organisation. At the other extreme, the placement may entail undertaking tasks that, while linked to the dissertation are not directly part of its preparation. Where this is the case then the deadline for submission of the dissertation may be extended, and students transferred to part-time registration. In either case, terms of reference for a placement must be agreed in writing between the placement tutor, student and host organisation prior to its commencement.

### EC50116: Microeconomic theory

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aims of this unit are to provide a good understanding at graduate level of the theory and techniques of microeconomic analysis. Students will gain an understanding of how economists model individuals and their interaction in market and non-market settings. In addition students will able to demonstrate an awareness of the difficulties presented by risk and uncertainty and asymmetric information in economic analysis and how they are resolved. Content: The theory of the consumer and producer in a competitive environment; uncertainty, the expected utility model and alternatives; general equilibrium theory; game theory; the economics of information; incentives and mechanism design with applications to bargaining and auctions.

### EC50117: Macroeconomic theory

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of this unit is to cover recent developments in macroeconomic theory at an advanced level. It will help students to achieve a critical understanding of recent macroeconomic research. Students would be able to evaluate the macroeconomic literature, in particular academic journals, and policy research carried out by government and independent economists. By the end of the course unit students will be sufficiently competent to pursue doctoral research and policy-oriented work. Content: Overlapping-Generations Models. New Keynesian Economics. Microfoundations of Macreconomics Theory, Nominal Rigidities and Adjustment. Theories of Unemployment. Inflation and Monetary Policy. Real Business Cycle. Expectations Formation and Multiple Equilibria, Consumption Behaviour and Fiscal Policy and Budget Deficits.

### EC50118: Econometric & quantitative methods 1

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: CW50EX50
 Requisites:
 Aims & Learning Objectives: The aim of this unit is to provide students with a solid background in the analysis of " microdata" (individuals, households or firms). The unit covers both theoretical foundations and practical application with a focus on cross-sectional and panel data estimation methods. The emphasis throughout is on the specification, estimation, interpretation and testing of microeconometric models. A variety of practical applications will be considered, including labour supply decisions, occupational / political choice and employment decsisions. At the end of the unit the student should be able to use econometric theory and application to quantitatively analyse problems involving cross-section and panel data. Content: The first topic of the unit will consist of a review of the classical general linear regression model. Next we will consider discrete choice modelling techniques (binary, multiple choice and ordered response models) and limited dependent variable analysis (censored and truncated regression). In the final two sections we will discuss panel data estimation techniques and stochastic frontier analysis.

### EC50119: Econometrics & quantitative methods 2

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: CW50EX50
 Requisites:
 Aims & Learning Objectives: The aim of this unit is to provide students with the knowledge necessary to analyse macro/time series data. Both univariate and multivariate models are considered with and without the stationary assumption. The goals of the unit are to (1) develop a comprehensive set of tools and techniques for analysing various forms of univariate and multivariate time series and for understanding the current literature in applied time series econometrics; (2) survey the current research topics in time series econometrics. Simple examples will be used that illustrate how the theoretical results are used and applied in practice. At the end of the unit the student should be able to use econometric theory and application to quantitatively analyse problems involving time series data. Content: The unit begins with stationary univariate models by explaining the theory of difference equations, demonstrating that they are the foundation of all time-series models. The stationary univariate analysis emphasises on the ARMA models and Box-Jenkins methodology. The unit focuses on univariate and multivariate models with and without the stationary assumption. Many recent developments in time series analysis including ARIMA models, unit root tests, cointegration/error-correction models, vector autoregressions and TAR, M-TAR models are considered. There will be numerous examples to illustrate the various techniques, many of which concern models of macroeceonomics, finance, international trade and agricultural economics.

### EC50120: Welfare theory & cost benefit analysis

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aims of this unit are to provide a good understanding at graduate level of the underpinnings of welfare economics beginning with the welfare properties of general equilibrium. Students will be equipped with an understanding of the principles of CBA and project appraisal in developing countries. The unit will provide students with foundational material enabling them to undertake appraisal exercises Content: Pareto optimality and the Pareto criterion. Market failure and the theory of the second best. Compensation principles and consumer surplus measurement. Aggregation problems. Social welfare orderings and equity. The contrast of CBA with the Little - Mirrlees - Squire - van der Tak system of project appraisal including discounting problems and dealing with risk. In particular theoretical issues surrounding shadow pricing, hedonic methods and capitalisation, inter-temporal contexts with uncertainty and the evaluation of large projects will be explored. Where relevant actual CBA and CEA studies will be critically evaluated.

### EC50121: Growth theory

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of the unit is to provide an account of the modern economic analysis of economic growth; though the unit draws appropriately on techniques of dynamic optimization, the emphasis is on economic intuition and empirical relevance. Learning objectives: by the end of the unit students should * be able to critically appraise the analytical models and empirical evidence relevant to understanding the causes of differences in long-term growth performance across countries and regions; have sufficient skills to formulate growth models in empirically testable form and to begin to carry out such tests. Content: The basic neo-classical model. The golden rule of economic growth. Technical progress: definitions and implications for the model. Growth accounting. One-sector models of endogenous growth: the AK model. Human capital and learning by doing. Ramsey models and optimal growth. Multi-sector models. Neo-Schumpeterian models. Using growth accounting to analyse TFP growth. Where appropriate case studies will be introduced.

### EC50122: Public sector economics 1 (taxation)

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of the unit is to address issues of taxation by application of economic theory. The learning objective is to enable students to appraise taxation by reference to well-defined economic criteria. Students will be equipped with skills required to appraise policy proposals and to evaluate research findings. The course unit is theoretical and the emphasis is on analysis rather than description. Content: Efficiency and excess burden of taxation. Tax incidence; partial and general equilibrium analysis; Taxation and incentives; impact of income tax on work effort; role of tax expenditures. Tax evasion and tax policy. Benefit Principle and Ability to Pay approaches to taxation. Taxation versus government borrowing.Optimal taxation: 'normative' and 'positive' constitutions. Tax implications of decision making by different voting rules. Compliance costs of taxation. Empirical analysis of tax evasion and the 'hidden economy'. Recent tax reforms.

### EC50123: Public sector economics 2 (expenditure)

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of this unit is to understand public sector issues from an economic perspective. The issues covered will be based on both microeconomic and macroeconomic theories. Students would have a thorough understanding of public sector issues such as regulation theory and policy and government expenditure behaviour. They should consequently be able to critically evaluate current public sector policies undertaken by governments. Content: This course will apply microeconomic theory and macroeconomic theory to public sector issues. For example, it will consider the use of legislation to deal with market failure. The theory of regulation will be introduced and applied. Rent seeking and regulation will be analysed. In the macroeconomics section of the course political business cycles will be analysed. Explanations for the growth of public expenditure will be evaluated.

### EC50124: Development & transition 1 (microeconomic issues)

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: To create an awareness of required microeconomic changes to transform an administrative to market economy, by a study of the key required microeconomic changes. Learning objectives: by the end of the unit students should * be able to critically appraise the theoretical models and empirical methods applied in (micro)Transition Economics; * have sufficient skills to critically appraise policy instruments and recommendations Content: Review key theories of economic development, Household economics, population, market fragmentation, migration, financial markets, land, agricultural risk and insurance, inter-linkage, human capital and income distribution, poverty measurement, endogenous technical change, dual economy models, inter-sectoral complementarity and co-ordination failure, institutional economics and the state. Privatisation and restructuring of firms; reforming state enterprises; legal issues; firm genesis; financial markets; virtual and hidden economies; the market for land; tax-benefit systems and the labour market.

### EC50125: Development & transition 2 (macroeconomic issues)

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: To create an awareness of required macroeconomic changes to transform an administrative to market economy, by a study of the key required macroeconomic changes. Learning objectives: by the end of the unit students should * be able to critically appraise the theoretical models and empirical methods applied in (macro)Transition Economics; * have sufficient skills to critically appraise policy instruments and recommendations Content: Sequencing transition policies; transformational recession and recovery; measurement of transition; exchange rate and inflation policies; trade and growth. The development role of public sectors in transitional economies.

### EC50126: Environmental economics 1

 Credits: 6
 Level: Masters
 Semester: 1
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of the unit is to provide a rigorous account of the modern economic analysis of the economics of environmental valuation and policy-design. Learning objectives: by the end of the unit students should: *be able to critically appraise the theoretical models and empirical procedures used by economists to value environmental costs and benefits; *have sufficient skills to begin to design and implement a valuation study; *be able to critically appraise the procedures which economists use in the design and implementation of environmental policy instruments; *have sufficient skills to begin to design a policy instrument. Content: The economy-environment interaction. Valuation of environmental goods: total economic value, valuation techniques. Dealing with time and risk. Market failure and externalities. Introduction to instruments for environmental management: the role for economic instruments. More detailed study of valuation techniques: contingent, travel cost and hedonic techniques. Designing efficient instruments for more complex types of pollutant. Case studies will be introduced where appropriate.

### EC50127: Environmental economics 2

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX80OT20
 Requisites:
 Aims & Learning Objectives: The aim of the unit is to provide a rigorous account of the modern economic analysis of natural resource use and of sustainable development.Learning objectives: by the end of the unit students should: *be able to critically appraise the theoretical models and empirical procedures used by economists to examine the time path of extraction and associated prices of natural resources; *have sufficient skill to begin to empirically model the usage of a natural resource; *to be able to critically appraise and compare the analyses of sustainable development constructed by economists and others; *have sufficient skills to begin to empirically model the sustainability of an economy. Content: Introduction to the economics of exhaustible and renewable natural resources. Sustainable development: definitions and analysis: the Hartwick rule etc. Global problems, analysis and policy: climate change, bio-diversity. More complex models of resource use: alternative market structures, multi-species, etc. Integrating environmental and natural resources into formal growth models. Green national income accounting, sustainability indicators and the limits to growth debate.

### EC50128: Language foundation

 Credits: 6
 Level: Masters
 Semester: 2
 Assessment: EX50OR50
 Requisites:
 Aims & Learning Objectives: Aims: * To give students a basic introduction to the (a key) language of the area in which they intend to carry out primary research. Outcomes: * The student will be able to conduct a basic introductory conversation in the language. * The student should be able to read basic text in the language (if it has a written text). * The student should know a range of terms appropriate to their research topic in the language in question. * The student should be prepared to embark on more substantial language training in-country at the beginning of the fieldwork phase of further study. Content: The student will have a tutor with whom they will identify and then implement a language learning strategy. This may take a variety of forms including: participation in foreign language training provided by the University of Bath; participation in language training provided by another recognised institution; personal tuition with a language specialist approved by the University; the use of 'linguaphone' course in language facilities at the University; or a combination of these.

### EC50129: Economics: Masters dissertation

 Credits: 30
 Level: Masters
 Dissertation period
 Assessment: DS100
 Requisites:
 No Description Available

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