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Department of Economics & International Development, Unit Catalogue 2004/05


EC10003: Core skills for economists: introduction to computing and data analysis

Credits: 6
Level: Certificate
Semester: 1
Assessment: EX50CW30OT20
Requisites:
Aims: 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.
Learning Outcomes:
* Make effective use of University computing and library resources for purposes of communication, research and collection and description of economic data;
* Apply to economics a range of software products including: word processing (MS Word), presentation software (Powerpoint), spreadsheets (Excel, Minitab), specialist econometric packages (MicroFit) and a relational database (Access);
* Build small spreadsheet models for analysing economic relationships;
* Generate various ways of summarising and presenting univariate and bivariate data.
Skills:
Problem-solving, information technology (standard and technical packages), ability to work and communicate effectively in a team.
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. Introduction to Correlation and Regression analysis.

EC10004: Core skills for economists: introduction to statistics

Credits: 6
Level: Certificate
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must take EC10003
Aims: The aim of this Unit is to provide students with the theory necessary to understand the basic practice of statistical inference, and to study of econometrics.
Learning Outcomes:
The learning outcomes are that students should be able to:
* Calculate probabilities using a variety of discrete and continuous distributions.
* Evaluate properties of basic estimators.
* Calculate confidence intervals and hypothesis tests for basic estimators.
* Apply nonparametric and analysis of variance tests.
Skills:
Problem-solving.
Content:
Probability theory. Discrete and continuous distributions. Sampling distributions. Point and interval estimation. Properties of estimators. Hypothesis testing. Chi-squared and F Distributions. Possible texts:
* Introductory Statistics, Wonnacott and Wonnacott.

EC10005: Core skills for economists: elementary mathematics

Credits: 6
Level: Certificate
Semester: 1
Assessment: EX80CW20
Requisites:
Aims: 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 (EC10130) in semester 2.
Learning Outcomes:
By the end of the course students should be able to understand
(a) elementary mathematical concepts,
(b) solve simple mathematical problems,
(c) apply mathematics to simple economic problems.
Skills:
The students will be taught the skills that are necessary to a professional economist. Mathematical economics is considered to be the language of economics. It combines the quantitative methods of mathematics with economic theory in order to solve real problems. This enables the student to develop analytical and quantitative skills that are regarded very highly by employers. These skills are taught and assessed in this course. A strong mathematical economics background benefits students going on to higher studies, research, academics, business school or public policy school. It is advantageous for finding a variety of economics-related jobs that require quantitative and analytical skills, both in government and business. An understanding of mathematical economics would, for example, prepare a student for the beginning of a career in operations research or actuarial science. In many ways, the mathematical economics program parallels the engineering philosophy. With the ever increasing importance of the service sector in our economy, an understanding of mathematical economics will prove to be a valuable asset to employers.
Content:
The course unit begins with a brief review of GCSE algebra. 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 Supplementary text: Ian Jacques Mathematics for Economics and Business

EC10006: Introductory microeconomics

Credits: 6
Level: Certificate
Semester: 1
Assessment: ES20CW20EX60
Requisites:
Aims: This course is designed to provide an introduction to the methods of microeconomic analysis, including the use of simple economic models and their application. The aims of the course are to enable students to derive conclusions from simple economic models and evaluate their realism and usefulness. Together with EC20010 Intermediate Microeconomics (to be taken in the second year), we aim to provide students with a thorough grounding in the basic principles of microeconomics and exposure to a range of applications.
Learning Outcomes:
The learning objectives are that, on completion of the module, 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. Students should be able to use these principles both to describe and to appraise these decisions, and should be competent in the verbal, diagrammatic and basic mathematical concepts and techniques used in introductory microeconomics. The second year unit, EC20010 further develops the theoretical toolkit, so that students will have a firmer and more formal grasp of both theoretical material and applications.
Skills:
Basic grounding in introductory microeconomics. Student will acquire skills in problem solving through work completed in class and assessment. They will undertake a piece of applied research work with respect to a current topic in microeconomics.
Content:
Introduction to Markets; Household Behaviour; Production and Costs; Perfect Competition and Monopoly; Imperfect Competition; Factor Markets - Labour; Risk and Uncertainty; Welfare Economics. Key Texts:
* Begg, D., R. Dornbusch and S. Fischer (BDF). Economics. Seventh Edition, McGraw Hill, 2003.
* Parkin, M., M. Powell and K. Mathews (PPM). Economics. Fifth Edition, Addsion Wesley, 2003.
* Lipsey, R. G. and K. A. Chrystal (LC). Principles of Economics. Ninth Edition, Oxford University Press, 1999.

EC10007: Introductory macroeconomics

Credits: 6
Level: Certificate
Semester: 2
Assessment: CW40EX60
Requisites:
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 Outcomes:
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.
Skills:
Basic grounding in macro-economics.
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: EX70CW30
Requisites:
Aims: The aim of this Unit is to equip students with an historical, institutional and analytical 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 Outcomes:
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. The ideological and historical origins of economic theories.
2. The role of multilateral corporations in the global economy
3. The impacts of globalisation on the ability of the nation state to produce independent domestic policies.
4. The scope for national economic policies within the globalised economy.
Skills:
Intellectual: analytical thinking, critical reading, discussing ideas, coherent understanding of issues by reading and evaluating a wide range of literature. Key skills: Essay writing skills, communication skills and presentation skills.
Content:
Lecture 1: Methodology and an overview of the world economy
Lecture 2: A brief historical perspective
Lecture 3: Foreign Trade
Lecture 4: Foreign Direct Investment (FDI) and Multinational Companies (MNCs)
Lecture 5: Regional Integration
Lecture 6: Role of the World Bank, IMF and WTO
Lecture 7: Privatisation
Lecture 8: Globalisation and the state
Lecture 9: Debt crisis and aid
Lecture 10: National variations in policy stance
Lecture 11: Revision lecture.

EC10009: The modern world economy 2

Credits: 6
Level: Certificate
Semester: 2
Assessment: ES30EX70
Requisites:
Before taking this unit you must take EC10008
Aims: 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 Outcomes:
Greater insight into how the economies of selected regions differ, and reasons for those differences, including differences in economic strategy and policies. A better appreciation of how theory is used by economists to address specific problems and policy issues in regional and country context.
Skills:
* Ability to relate (economic) theory and concepts to contemporary debates and policy issues;
* Ability to obtain and compare statistical information (to produce a memo highlighting differences in economic performance of two countries).
Content:
The course unit will focus on the economic analysis of perennial and contemporary issues in two sets of countries: transitional economies of East and Central Europe, and low income and emerging countries in Latin America, sub-saharan Africa, and Asia.

EC10077: Introduction to international development

Credits: 6
Level: Certificate
Semester: 1
Assessment: CW100
Requisites:
Aims: To introduce students to International Development and to familiarise them with some of the key issues, concepts and methods which are used to explore its social and political dimensions. Learning
Objectives: By the end of this course students should:
* Have a clear understanding of the range of issues raised by International Development;
* Have a clear grasp of certain key concepts used in the social analysis of Development issues;
* Be able to apply these in social and political analysis of development issues and contexts.
Skills:
Critical analysis of texts;
* Clear and logical expression, oral and written;
* Critical reflection on own experience and connections across text and context.
Content:
The four components of International Development: the 'international'; poverty/disadvantage; change/progress; agency/action:
* Who are the poor/Why are they poor?: Approaches to understanding poverty; key dimensions of social difference: class, gender, race/ethnicity;
* Change/progress: grand theories and local trajectories; understanding the nature of change;
* Agency/action: agencies of development; social movements; dynamics of agency; development critique.

EC10078: Developing countries in world politics

Credits: 6
Level: Certificate
Semester: 2
Assessment: ES80EX20
Requisites:
Aims: This unit aims to:
1. provide an introduction to the main personalities, leaders, and events in world politics since 1945.
2. provide an introduction to the main personalities, leaders, and events in world politics, particularly those leaders and events which have influenced the politics and economics of developing countries.
3. provide an introduction to the origins and development of the Cold War, and to the main debates about the Cold War.
4. provide an introduction to the role of developing countries in the origins and development of the Cold War.
Learning Outcomes:
By the end of this unit students should be able to do the following:
1. identify the main personalities, leaders, and events in world politics since 1945, and explain their significance for the development of world politics.
2. identify the main personalities, leaders, and events in world politics which have influenced the politics and economics of developing countries.
3. explain the origins and development of the Cold War, and the main debates about the Cold War.
4. explain the role of developing countries in the origins and development of the Cold War.
5. explain how some of the most important developing countries responded to the foreign policies of the superpowers during the Cold War.
Skills:
critical reading, thinking, and listening.
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
* John W Young and John Kent International Relations since 1945 (Oxford, 2004). 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: EX80OT20
Requisites:
Before taking this unit you must take EC10005
Aims: This unit aims to provide students with the knowledge of the important areas of mathematics that are relevant to undergraduate economics and to prepare them for progression to econometrics and advanced economics courses.
Learning Outcomes:
By the end of the course, students should be able to
(a) understand mathematical concepts,
(b) solve mathematical problems,
(c) apply mathematics to economic problems
Skills:
The students will be taught the skills that are necessary to a professional economist. Mathematical economics is considered to be the language of economics. It combines the quantitative methods of mathematics with economic theory in order to solve real problems. This enables the student to develop analytical and quantitative skills that are regarded very highly by employers. These skills are taught and assessed in this course. A strong mathematical economics background benefits students going on to higher studies, research, academics, business school or public policy school. It is advantageous for finding a variety of economics-related jobs that require quantitative and analytical skills, both in government and business. An understanding of mathematical economics would, for example, prepare a student for the beginning of a career in operations research or actuarial science. In many ways, the mathematical economics program parallels the engineering philosophy. With the ever increasing importance of the service sector in our economy, an understanding of mathematical economics will prove to be a valuable asset to employers.
Content:
Differentiation, First and Second Order Partial Derivatives and Differentials. Applications to (a) Supply and Demand (Comparative Statics), (b) Consumer Theory (Marginal Utility), (c) Production Theory (Marginal Product). Implicit functions and Implicit Differentiation with applications to (a) consumer theory (indifference curves) and (b) producer theory (isoquants and production possibility frontiers). Concave and Convex Functions and their relation to second order conditions for optimisation. Relationship between concave functions and convex level surfaces. Applications to producer theory and consumer theory. Unconstrained Optimisation with functions of several variables with applications to the theory of the firm. Constrained optimisation with non-negativity constraints and more general concave constraints. The use of Lagrange Multipliers. Applications to (a) consumer theory (demand analysis) and producer theory (choice of technique). Integration: Definite and Indefinite, Economic Applications. Matrices: Operations, Inversion, Cramer's Rule, Input Output Analysis. Economic Dynamics: Difference Equations, Differential Equations.Recommended Texts: Bradley, T. and P. Patton (1998) Essential Mathematics for Economics and Business. Wiley. Jacques, I. (1998) Mathematics for Economists, 3rd Edition. Norton. Birchenhall, C. and P. Grout (1984) Mathematics for Modern Economics. Phillip Allen.

EC20010: Intermediate microeconomics

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX80OT20
Requisites:
Before taking this unit you must take EC10006
Aims: This course covers the core concepts and method of microeconomic analysis, using some mathematics in modelling and explication. 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 explanation with respect to economic phenonema.
Learning Outcomes:
The learning objectives are that by the end of the course unit, students should be able to tackle economic problems with the application of economic principles.
Skills:
The course develops the analytical skills of students.
Content:
The theory of consumer behaviour; theory of factor markets; firm behaviour under competitive conditions.

EC20011: Intermediate macroeconomics

Credits: 6
Level: Intermediate
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10007
Aims:
* To develop further students understanding of macroeconomic theory within a policy context.
* To enable students to use macroeconomic models to interpret policy problems and questions.
* To be aware of the main contributions of the leading schools of macroeconomic thought.
Learning Outcomes:
At the end of the course, students should be able to:
* Understand, manipulate and use for policy analysis a series of small general equilibrium models;
* Use their knowledge of theory to interpret problems in macroeconomic policy making;
* Solve problems under test conditions from the material taught in the lectures and classes.
Skills:
Use and analysis of economic data; problem-solving; expressing understanding of macroeconomic theory and policy in written form through the examination.
Content:
The money market - money demand and money supply; the labour market; models of consumption behaviour and investment; IS-LM analysis in an open economy context - the Mundell-Fleming Model; AD-AS analysis; aggregate supply and inflation; introduction to modelling expectations within macroeconomics; the public sector budget constraint; conducting monetary policy under uncertainty. Key text: Gärtner, M. (2003, Macroeconomics, Financial Times Prentice-Hall, (library ref: 330GAR).

EC20012: Economic thought & policy

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10007
Aims:
* To familiarise students with a range of primary source texts written by major economists from the late eighteenth to the mid twentieth 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 Outcomes:
Students will have developed an understanding of the economic models and contributions to policy of a number of major economists from Adam Smith to John Maynard Keynes and the context within which these models were relevant. Students will have acquired "first hand" knowledge through reading primary sources.
Skills:
Reading and assimilating primary source texts; exposure to critical debate in the development of economic argument.
Content:
The historical development of economic thought and policy from the beginning of the industrial revolution in the eighteenth century - themes and debates from Smith to Keynes. The main economists considered are Smith, Malthus, Ricardo, Mill, Jevons, Marshall and Keynes. Key texts:
* Primary sources (internet links);
* Ekelund and Hebert A History of Economic Theory and Method;
* R.Heilbroner The Worldly Philosophers;
* Three Great Economists Smith, Malthus Keynes (Oxford, Past Masters p/b).

EC20014: Money & finance

Credits: 6
Level: Intermediate
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10007
Aims:
* To provide an introduction to the analysis of financial behaviour;
* To analyse recent trends in the UK financial sector;
* To understand the link between money, the financial sector and the monetary transmission mechanism.
Learning Outcomes:
At the end of the course, students should be able to:
* analyse the roles of financial markets and the institutions that participate in them;
* Distinguish between different types of financial market and explain how the pricing of financial instruments takes place;
* Understand the link between financial markets and monetary policy;
* Understand more fully the role played by money in the economy;
* Understand further the factors influence the demand for money and control of the money supply.
Skills:
Use and analysis of economic data; problem-solving; expressing understanding of monetary theory and finance in written form through examination.
Content:
Overview of the monetary sector; the demand for money; monetary base control model; introduction to the UK financial system; theory of finance; the structure and functioning of money and capital markets; deposit and non-deposit financial institutions; government financial operations. Key text: Howells, P. and Bain, K. The Economics of Money and Finance, Financial Times, Prentice Hall.

EC20015: Economics of industry

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10130
Aims: The aim of the course is to provide a rigorous understanding of contempoary theories of industrial organisation.
Learning Outcomes:
By the end of the course students will have acquired familiarity with key topics in industrial organisation (e.g. pricing theory, advertising, innovation, the analysis of market structure, barriers to entry) and will be able to apply these concepts to contemporary industrial developments. Students will also have gained an understanding of industrial and competition policy.
Skills:
The following are facilitated and assessed: Abstract reasoning; information synthesis; diagrammatic skills; writing skills; numeracy skills.
Content:
The course 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 also examines the role played by government policy in the operation and regulation of industry. Key texts:
* Philips, L. (1998). Applied Industrial Economics. Cambridge University Press.
* Shy, O. (1995). Industrial Organisation, MIT Press.
* Tirole, J. (1989). The Theory of Industrial Organisation. MIT Press.

EC20016: Economics of social policy

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 or (take SP10001 and take SP10002)
Aims: 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 will be stressed.
Learning Outcomes:
To obtain a sound grasp of how economics can illuminate areas of social policy, and to demonstrate analytical ability by applying economic principles to social policy problems.
Skills:
Critical analysis. This is taught and assessed.
Content:
First we look at some basic ideas that economists have used to analyse social policies: politico-social theories of the role of the state; the concepts of equity and efficiency; the economic justification for intervention; the economics of insurance, and the measurement of economic welfare and poverty. Second, using these ideas we look at some 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 (3rd ed.); J Le Grand, C Propper and R Robinson The Economics of Social Problems (3rd ed.).

EC20018: Mathematical economics

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10007 and take EC10130
Aims: The aim is to enable students to understand the mathematics encountered in economics and make use of these techniques to achieve proficiency in the application mathematics to problems in economics.
Learning Outcomes:
By the end of the course students should be able to (a) apply the Lagrangian technique to constrained optimisation problems, (b) apply linear algebra techniques to analyse the comparative statics of economic models (c) analyse the dynamic processes underlying time series economics.
Skills:
The students will be taught the skills that are necessary to a professional economist. Mathematical economics is considered to be the language of economics. It combines the quantitative methods of mathematics with economic theory in order to solve real problems. This enables the student to develop analytical and quantitative skills that are regarded very highly by employers. These skills are taught and assessed in this course. A strong mathematical economics background benefits students going on to higher studies, research, academics, business school or public policy school. It is advantageous for finding a variety of economics-related jobs that require quantitative and analytical skills, both in government and business. An understanding of mathematical economics would, for example, prepare a student for the beginning of a career in operations research or actuarial science. In many ways, the mathematical economics program parallels the engineering philosophy. With the ever increasing importance of the service sector in our economy, an understanding of mathematical economics will prove to be a valuable asset to employers.
Content:
Optimisation Problems: Relative Maximum and Minimum, First and Second Derivative test, Exponential and Logarithmic functions, Derivatives of Exponential and Logarithmic functions Extreme values of a function of more than two variables, Second order conditions in relation to Concavity and Convexity, Effects of a Constraint, Stationary Values, Quasiconcavity and Quasiconvexity, Homogenous Functions. Economic Applications: Rate of growth, Point elasticity, Multiproduct firm, Price Discrimination, Utility Maximisation and Consumer Demand, Theory of the Firm, Taxation and Profit MaximisationDynamic Analysis Integration, Definite and Indefinite Integrals, First and Second Order Linear Differential Equations, First and Second Difference Equations, The Dynamic Stability of Equilibrium. Simultaneous Differential Equations and Difference Equations. Economic Applications: Domar Growth Model, Solow Growth Model, Market Models with Price Expectations, The Cobweb Model, Market Models with Storage, Inflation and Unemployment, Samuelson Multiplier Acceleration Interaction Model. Key Text: Chiang, A. Fundamental Methods of Mathematical Economics 3rd Edition McGraw Hill. Other Texts: Birchenhall, C. and P.Grout Mathematics for Modern Economics Phillip Alan 1984. Thomas, R.L. Using Mathematics in Economics Longman 1989.

EC20019: Introduction to econometrics

Credits: 6
Level: Intermediate
Semester: 1
Assessment: EX60CW40
Requisites:
Before taking this unit you must take EC10004 and take EC10130
Aims: The aim of the Unit is to provide an 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.
Learning Outcomes:
The learning outcomes are that, at the end of the course, 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 formulate appropriate diagnostic procedures.
Skills:
Problem-solving, research skills.
Content:
Topics covered include: the nature of econometrics, bivariate regression analysis, multiple regression analysis, functional form, specification error, muticollinearity, 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: ES70CW30
Requisites:
While taking this unit you must take EC20043
Aims: The aim of this unit is 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 Outcomes:
By the end of the unit students should:
* Be able to discuss critically different analytical and methodological approaches to social change;
* Be able to describe in a range of contexts how processes of economic change interact with the environment and culture, social structure, social identities and social relations;
* Have an in-depth understanding of the nature of poverty in rural and urban contexts and the significance to this of dynamics of globalisation.
Skills:
Critical analysis of texts; Clear and logical expression; oral and written; Critical reflection on own experience and connections across text and context; Group work: collaborative research and presentation.
Content:
Different understandings of social change and development: as the movement from 'tradition' to 'modernity'; or forged in the relationship between 'local' and 'global'. Contrasting ways of ordering economic relations, and how processes of economic change interact with the environment and social structure, relations and identities. The role of culture in shaping the form of social change and the ways in which it is analysed. Analysis of key dynamics in the constitution of poverty in rural and urban environments.

EC20043: Governance and the policy process in developing countries

Credits: 6
Level: Intermediate
Semester: 2
Assessment: CW50EX50
Requisites:
Before taking this unit you must take EC20080 or take EC30042
Aims: 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.
Learning Outcomes:
By the end of this Unit students should be able to:understand critically the policy process in the developing country context; apply and extend their knowledge of key policy concepts; understand the concept of power and the institutions through which it is expressed.
Skills:
Intellectual Skills:
understand and apply key policy concepts (taught, facilitated and assessed); identify researchable policy problems and formulate questions and hypotheses (taught, facilitated and assessed); understand dynamics of policy process in developing country context (taught, facilitated and assessed).
Professional Skills:
select, summarise and synthesise written information from multiple sources (taught, facilitated and assessed); produce work to agreed specifications and deadlines (taught, facilitated and assessed); ability to work independently (taught, facilitated and assessed).
Practical Skills:
comprehensive and scholarly written communication (taught, facilitated and assessed); concise and effective oral communication (taught, facilitated and assessed).
Content:
The policy process in the developing country context; genesis of the concept of Good governance and its practical implications; State, non-state and civil society actors in development; policy formulation and implementation in developing countries; the nature of power in the policy process; policy networks; corruption; human rights; institutionalizing good governance; promoting inclusionary policy practice.

EC20045: Placement

Credits: 60
Level: Intermediate
Academic Year
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: 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.
Learning Outcomes:
* 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;
* students will have constructed a business report/ briefing paper outlining the substance of their research which, whilst not compromising the economic analysis, should be accessible to ministers or business people who are not economists;
* students will have worked effectively as members of a small team and will have contributed their fair share;
* students will have enhanced their skills in designing and making presentations which will be transferable to the workplace.
Skills:
* apply appropriate economic theories to real world situations and events;
* write clearly and concisely and present an argument logically and succinctly;
* identify the strengths and weaknesses of working in groups;
* perform a powerful and effective oral and visual presentation;
* use a range of IT packages to aid learning and improve skills.
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 and take EC10007
Aims: 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.
Learning Outcomes:
The learning outcome 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.
Skills:
Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed.
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.

EC20080: Policy & Politics

Credits: 6
Level: Intermediate
Semester: 1
Assessment: CW100
Requisites:
In taking this unit you cannot take SP20005
Before taking this unit you must take introductory course units in economics and politics.
Aims:
The aim of this unit is to provide students with an understanding of the political character of concepts and methods which can be employed in the analysis of economic and international development policy. The course is designed
1) to provide students with a critical awareness of the processes through which problem construction takes place in the public realm;
2) to highlight some of the implications of those constructions for public policy making;
3) to apply this critical awareness of problem construction to particular policy issues, and
4) to appreciate the close linkages between politics and policy.
Learning Outcomes:
The learning objectives and outcomes include the ability
1) to understand and analyse critically the political character of a range of substantive policy issues;
2) to appreciate the interface between theory and practice;
3) to engage in constructive, critical discussion about topical issues;
4) to undertake independent research into an issue related to policy and politics;
5) to write articulately, concisely and persuasively;
6) to integrate lecture and reading materials.
Skills:
Intellectual skills
* understand and apply key policy concepts (taught, facilitated and assessed);
* identify researchable policy problems and formulate questions and hypotheses (taught, facilitated and assessed);
* understand dynamics underpinning the policy process ((taught, facilitated and assessed);
Professional skills

* select, summarise and synthesise written information from multiple sources (taught, facilitated and assessed);
* produce work to agreed specifications and deadlines ((taught, facilitated and assessed);
* ability to work independently (taught, facilitated and assessed);
Practical skills

* comprehensive and scholarly written communication (taught, facilitated and assessed);
* concise and effective oral communication (taught, facilitated and assessed);
* working with others for presentation.
Content:
Introduction to political analysis and policy analysis (including theories of state, decision-making, policy implementation, ideology, analysing policy in an international context); the construction of policy problems; Feminist critical policy analysis; role of media; analysis of substantive policy issues including development, free trade, terrorism, and foreign policy.

EC20081: Economic organisation of the European Community

Credits: 6
Level: Intermediate
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must (take EC10006 and take EC10007) or (take EC10008 and take EC10009)
Aims: The aim of this course unit is to apply introductory microeconomic and macroeconomic principles to a range of European policy areas.
Learning Outcomes:
The learning objective is that students will have enhanced their capacity to think analytically about European economic issues.
Skills:
Development of analytical and interdisciplinary skills.
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 exchange rate arrangements. Key texts: M.J. Artis and N. Lee (eds) The Economics of the European Union; De Grauwe Economics of Monetary Union; Eijffinger and De Haan European Monetary and Fiscal Policy.

EC20147: Intermediate microeconomics 2

Credits: 6
Level: Intermediate
Semester: 2
Assessment: EX70CW30
Requisites:
Before taking this unit you must take EC20010 and take EC20018
Aims: The aim of this unit is to enable students to extend their analytical ability in microeconomics so that they can use theory to generate predictions and explanations with respect to economic phenomena.
Learning Outcomes: By the end of this module the student will be able to:
a) examine the working of some basic types of market structure;
b) understand some basic efficiency and welfare concepts and apply them to various situations;
c) understand some of the problems that can arise in a market economy.
Skills: Problem solving: application of analysis to specific problems. Understanding: expressed in written form through coursework and examination.
Content: This unit, together with EC20010, covers the core concepts and method of microeconomic analysis at the intermediate level, using some mathematics in modelling and explanation. General equilibrium and welfare: competitive equilibrium and Pareto optimality; externalities and public goods; monopoly: welfare loss due to monopoly, taxes on monopolies; oligopoly: Cournot and Stackelberg models; the economics of information. Key text: Varian, H Intermediate Microeconomics.

EC30017: The economics of work

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: The aim of this unit is to provide a sustained application and extension of predominantly intermediate microeconomic theory to the labour market.
Learning Outcomes:
Learning outcomes 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 vital area of the economy is a key question students should be able to tackle by the end of the course unit.
Skills:
Using deductive reasoning in abstract models. Applying theory to specific contexts and empirical material. Synthesising relevant material and debates.
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: labour supply; household production, the family and the life cycle; labour demand; compensating wage differentials; human capital: education and training; worker mobility: migration, immigration and turnover; pay and productivity; gender, race, and ethnicity in the labour market; unions and the labour market; inequality in earnings; unemployment. Key Text: R. Ehrenberg and R. Smith (2002) Modern Labor Economics: Theory and Public Policy (eighth edition). Addison Wesley Longman Limited.

EC30020: Econometrics 1

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20019
Aims: 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 Outcomes:
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.
Skills:
Econometrics.
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: EX100
Requisites:
Before taking this unit you must take EC30020
Aims: 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 Outcomes:
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 unit students will be sufficiently competent in econometrics to pursue a masters in Economics, and will also have assimilated techniques which will be valuable in a commercial environment.
Skills:
Econometrics
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 (Johansen); 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

Credits: 6
Level: Honours
Semester: 1
Assessment: ES50EX50
Requisites:
Before taking this unit you must take EC10006 and take EC10007
Aims: To define economic development, from both historical and theoretical angles. To explore different explanations for global variation in the rate of economic development, with particular reference to low and middle income countries (L&MICs).
Learning Outcomes:
To 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.
Skills:
* Ability to understand theories and models, to assess critically their consistency and relevance to historical material;
* Ability to work in a team to produce a short presentation, to learn from feedback on the presentation and then produce a balanced essay on the same topic.
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, including the role of aid. Key text: G.M. Meier and J. E. Rauch (eds) Leading Issues in Economic Development.

EC30025: Applied development economics

Credits: 6
Level: Honours
Semester: 2
Assessment: ES50EX50
Requisites:
Before taking this unit you must take EC30024
Aims: 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. Whereas EC30024 (Economies of Development) aims to provide a broad overview of the subject, this unit provides an opportunity to specialise in its application to specific issues and countries, to analyse detailed empirical material, and to analyse economic policy within a broader political economy framework.
Learning Outcomes:
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 development policy issues. They should also have a stronger sense of the diversity of problems and policy issues facing low and middle income countries, and improved skills in using library resources to research a specific country/region and topic.
Skills:
* Ability to apply theory (of economic development) to selected country experience.
* Ability to review critically empirical research relating to specific countries and policy issues, then to define and then answer a question relating to this material.
* Ability to review critically and to synthesise material from different schools of thought within economics and the social sciences more widely.
Content:
Contemporary policy options (at global, national and sub-national levels) with respect to promoting economic development in these countries. Recent economic performance of selected countries in South Asia, Sub-Saharan Africa and Latin America. Examples include growth, inequality and poverty; fertility; agricultural development; food security, malnutrition and famines; distributional impacts of liberalisation; education and health policy; labour markets; comparative analysis of economic performance across countries and states; approachyes to management of Dutch Disease; conflict and reconstruction. Key reading is from recent editions of relevant journals: Journal of Development Economics, Economic Development and Cultural Change, World Development, Journal of Development Studies, Review of Development Economics, Development and Change, Journal of African Economics, Economic and Political Weekly and more.

EC30026: Economics of transition

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC10006 and take EC10007
plus any two second year economics units.
Aims:
To use economic analysis to understand the changes that are taking place in Central and Eastern Europe and the former Soviet Union, and to develop a critical awareness of the problems that have beset transition, and an appreciation of their possible solution.
Learning Outcomes:
The student should be able to describe the process of transition; to demonstrate an awareness of the role played by the legacy of planning under communism to the present state of transition; and to show the weaknesses in present policies, and to outline how progress might be achieved.
Skills:
Development of critical analysis. This is taught and assessed.
Content:
Topics covered will include measuring transition; the planned economy and the 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 (2nd ed.); 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: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: 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. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in International Economics, with EC3034 International Trade.
Learning Outcomes:
The learning outcomes are 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
(v) theoretical accounts of international financial crises.
Skills:
Using deductive reasoning in abstract models. Applying theory to specific contexts. Synthesising relevant material and debates.
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
* L.Sarno and M.P. Taylor The Economics of Exchange Rates.

EC30028: Economic growth & natural resources

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: 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 unit draws on some techniques of dynamic optimisation, the emphasis is on economic intuition and empirical relevance rather than rigorous mathematical proof.
Learning Outcomes:
By the end of the Unit students should be able to critically appraise the analytical models and empirical evidence used by economists relating to:
* the causes of differences in long-term comparative growth performance across countries and regions;
* the determinants over time of the available stocks and prices of various natural resources, such as fossil fuels, metals, fish and timber;
* the efficiency and equity of various ways of managing natural resources, including the implications of these for biodiversity;
* 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.
Skills:
Development of advanced level reasoning with respect to modelling economic growth and natural resource use.Application of economic analysis and modelling to very important areas of economic policy.
Content:
The 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 , 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: EX100
Requisites:
Before taking this unit you must take EC20010
Aims: The aim of this unit is to introduce students to the nature of environmental problems and potential policy solutions.
Learning Outcomes:
Students should be able to identify key environmental problems and be able to provide policy solutions. In addition, they should be able to critically assess these policies and critically evaluate the performance of economic instruments and regulation.
Skills:
Development of analytical & interdisciplinary skills.
Content:
Externalities, the economics of pollution; pollution control policy; the valuation of environmental resources.

EC30030: Advanced microeconomics

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20018
Aims: The aim of this course is to build on intermediate microeconomics and to introduce some of the theory that underlies recent academic research.
Learning Outcomes:
By the end of the course 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;
(iii) an ability to use advanced microeconomic concepts in analysing specific issues.
Skills:
The following are facilities and assessed: Abstract reasoning; information synthesis; diagrammatic skills; writing skills; numeracy skills.
Content:
The course will focus on two interrelated issues vis. the theory of games and the economics of information. Topics in 2004/2005 will include Game theory, oligopoly theory; bargaining; asymmetric information and uncertainty; signalling and screening. Key texts:
* Gravelle, H. and H Rees. (1992). Microeconomics.
* Hirshleifer, J. and J. G. Riley. (1992). The Analaytics of Uncertainty and Information.
* I. Molho (1997). The Economics of Information.
* Krepps, D. (1991), A Course in Microeconomic Theory.
* Rasmusen, E. (1996). Games and Information.

EC30031: Advanced macroeconomics

Credits: 6
Level: Honours
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must take EC20011
Aims: 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 expectations in macroeconomics, unemployment, inflation and monetary and fiscal policy.
Learning Outcomes:
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.
Skills:
Development of analytical and interdisciplinary skills. Enhancement and application of rigorous mathematical and technical skills and its relevance to macroeconomic theory and modelling.
Content:
Unemployment and inflation 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 and hysteresis; real wage and price pressures; nominal wage and price rigidity; real wage rigidity: efficiency wages and efficient contract and unemployment. Reputation, delegation and monetary policy. Median voter theory and fiscal policy. Key texts: Heijdra B. and Van der Ploeg F Foundations of Modern Macroeconomics, OUP 2002; Romer D. Advanced Macroeconomics, 2nd Edition, McGraw-Hill, 2001.

EC30032: Final year research project 1

Credits: 6
Level: Honours
Semester: 1
Assessment: CW100
Requisites:
Before taking this unit you must take EC20046
Aims: 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. Students will be building on and developing skills acquired in the second year in EC20046 Research and Presentation Skills. 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 Outcomes:
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.
Skills:
These units will significantly develop the student's capacity to research a topic in depth using the range of resources available. Transferable skills gained include: ability to work independently to a largely self-structured research agenda, ability to apply received theory, models etc. to a topic of the student's own choice, substantially enhanced knowledge of data sources and econometric application, better presentational skills. The research project gives students an opportunity to bring together and demonstrate the cumulation of 3 or 4 years of study. Students who have undertaken an industrial placement (for example, with the Bank of England, or HM Treasury) will frequently develop research commenced in these institutions.
Content:
The topic will be chosen by the student. Students will work under the regular guidance of their supervisor, submitting the finished project early in 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: 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. Students will be building on and developing skills acquired in the second year in EC20046 Research and Presentation Skills. 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 Outcomes:
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.
Skills:
These units will significantly develop the student's capacity to research a topic in depth using the range of resources available. Transferable skills gained include: ability to work independently to a largely self-structured research agenda, ability to apply received theory, models etc. to a topic of the student's own choice, substantially enhanced knowledge of data sources and econometric application, better presentational skills. The research project gives students an opportunity to bring together and demonstrate the cumulation of 3 or 4 years of study. Students who have undertaken an industrial placement (for example, with the Bank of England, or HM Treasury) will frequently develop research commenced in these institutions.
Content:
The topic will be chosen by the student. Students will work under the regular guidance of their supervisor, submitting the finished project early in the summer term.

EC30034: International trade

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: The aim of the Unit is to provide an economic perspective on issues relating to international trade.
Learning Outcomes:
The learning outcome 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) why countries engage in international trade
(ii) how the pattern of trade flow is determined
(iii) why countries adopt trade restraints
(iv) why countries join customs unions.
Although the unit can be studied as a self-contained module, it forms part of a specialist stream in International Economics, with EC30027 International Monetary Economics.
Skills:
Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed.
Content:
After an introduction to basic concepts, the topics discussed will include: comparative advantage; the gains from trade; adjustment costs; the Heckscher-Ohlin-Samuelson model; the specific factors model; theories of intra-industry trade; the costs of protection, smuggling, trade taxes as a revenue source; the optimum tariff; export subsidies; international cartels, quotas and voluntary export restraint; international integration; multinational enterprises and the welfare effects of the international movement of factors of production.

EC30035: Public expenditure & public choice

Credits: 6
Level: Honours
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: The aim of the Unit is to provide an economic perspective on decisions which are made with respect to government expenditure programmes.
Learning Outcomes:
The learning outcome 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.
Skills:
Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed.
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.

EC30036: Economics of taxation

Credits: 6
Level: Honours
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must take EC20010 and take EC20011
Aims: 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.
Learning Outcomes:
The learning outcome 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.
Skills:
Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed.
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.

EC30040: A history of international relations theory

Credits: 6
Level: Honours
Semester: 1
Assessment: EX50ES50
Requisites:
Aims: This course aims to:
1. distinguish between 'world affairs', 'contemporary history' from the academic study of International Relations or World Politics.
2. introduce and provide an overview of the main images, perspectives, paradigms, or traditions of thought scholars use to explain/examine/understand International Relations.
3. examine why human beings decided to organise themselves into geographically separate political communities (called 'states'), and to distinguish between the idea of 'international society', 'international system', 'world society', and 'global international society'.
4. examine the development of the main 'institutions' of international society, focusing particularly on the procedures of international law (regarding state sovereignty, treaties), the mechanisms of diplomacy, the working of international organisations, and the customs and conventions of war.
5. examine the origins and development of some of the different historical state systems or systems of states out of which emerged European international society and contemporary global international society or world society.
6. examine the main thinkers, concepts, and theories in international thought as they emerged in the context of different historical state systems.
7. examine what factors in different historical state systems contributed to order, stability, and international co-operation, and what factors contributed to disorder, instability, war or international conflict.
Learning Outcomes:
By the end of this course students should be able to:
1. identify and explain the main perspectives of International Relations.
2. identify the key Western thinkers in International Relations and explain how their ideas have contributed to the main perspectives on International Relations.
3. explain how some of the key thinkers in international thought and their ideas are related to the development the main historical state systems.
4. explain what factors, particularly cultural, religious, political, and economic, contributed to international order and co-operation and international conflict in different historical state systems.
5. explain the development of international ideas relating to international law, the ethics of war, diplomacy, and international co-operation.
Skills:
critical reading, thinking, and listening.
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 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: EX40ES60
Requisites:
Before taking this unit you must take EC10078
Aims: The unit introduces students to international relations (IR), broadly defined as the study of world politics. It examines some theoretical and empirical issues that have salience in the contemporary world. The intention is to foreground the close linkage between theory and practice within IR and critically interrogating some of the important conceptual issues and global problems in international politics.
Learning Outcomes:
The learning objectives and outcomes include:
* The ability to understand and analyse critically a range of issues in contempoary international relations.
* The ability to engage in constructive, critical discussion about issues of international relations politics.
* The ability to undertake independent research into an issue related to world politics.
* The ability to write articulately, concisely and persuasively about issues in world politics.
* Good grasp of and the ability to integrate lecture and reading materials.
* The ability to critically 'read' scholarly as well as popular written and visual texts of everyday international relations.
Skills:
* Critical thinking;
* Proactive 'reading' of the written and visual text;
* Relating academic learning to everyday life;
* Managing time effectively to optimise knowledge and understanding of a syllabus;
* Writing clearly and concisely and presenting an argument logically and succinctly;
* Peer group presentation.
Content:
Topics covered include various theories of International Relations, some important concepts (such as Globalisation, Security and Nationalism), themes (such as Global social movements, Humanitarian interventions, Human rights), and topical issues (such as the United States' foreign policy, significance of 'September 11', the events in Iraq). The focus is on a better and critical understanding of contemporary international politics.

EC30042: The politics of ethnicity, religion, and nationalism

Credits: 6
Level: Honours
Semester: 1
Assessment: ES50EX50
Requisites:
Before taking this unit you must take EC10078
Aims: This course aims to:
1. provide an understanding of the on-going saliency of ethnicity, religion, and nationalism in the politics of selected post-communist and developing countries.
2. explain the role of religion in the origin, formation (or social construction) of ethnicity, nationhood, and nationalism.
3. explain why the different perspectives of social theory neglect or ignore the role of religion in politics.
4. to explain the role of religion in the liberation struggle in South Africa.
5. to explain the role of liberation theology, the Catholic church, and Pentecostal Christianity in the political changes in Latin America.
6. examine the nature of 'fundamentalism' as a concept, and examine its application to the mixing of religion and politics in selected states.
7. examine the various ways Islam and politics have been interpreted within the Islamic tradition, and explain the way these interpretations have influence the political development of a variety of Islamic states.
8. explain the ways religion has come to challenge the secular state.
Learning Outcomes: By the end of this course students should be able to do the following:
1. critically evaluate the role of ethnicity, religion, and nationalism in the main perspectives of social theory in development and international relations.
2. explain how religion has played a role in the reolutions or political changes in South Africa, Poland, and Latin America.
3. explain the way different Muslim countries have tried to form 'Islamic states' and applied Islam to their politics and society.
4. explain how religion challenges the secular state in a number of developing countries, including India, Turkey, Algeria, and Egypt.
Skills:
critical reading, thinking, and listening.
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.
* Steve Bruce Politics and Religion (Polity Pr, 2003).

EC30142: Economics of sport

Credits: 6
Level: Honours
Semester: 2
Assessment: EX100
Requisites:
Before taking this unit you must (take EC20010 or take EC30017) and take EC10004
Aims: This unit applies economic theory - demand and supply, theory of the firm and labour markets - to the analysis of the sport industry. The material covered in the unit will deal with both theoretical and empirical issues in equal measure and will be applied to both US and European team and individual sports (although the primary focus is on team sports).
Learning Outcomes:
*To develop an appreciation of how microeconomics may be used to explain the motivation of economic agents in the sports industry;
*To understand the operation of sporting leagues and critically evaluate policy proposals with respect to the product market and the labour market;
*To develop a knowledge and understanding of the relevant theoretical and empirical literature relating to the economics of sport.
Skills:
Problem-solving exercises, critical and analytical skills, self-directed learning.
Content:
Economic and commercial importance of the industry, current issues; nature of the product and objectives, demand for team sports and the uncertainty of outcome hypothesis; the impact of broadcasting on demand and revenue; economic models of sporting leagues and behaviour, competitive balance, eliciting effort; estimation of team production functions, establishing the contribution of the manager/coach; labour market controls, salary determination, termination and hiring decisions; the impact of sport on the wider community.

EC30145: Economics of incentives

Credits: 6
Level: Honours
Semester: 2
Assessment: CW40EX60
Requisites:
Before taking this unit you must take EC20010
Aims: The aim of this course is to provide an understanding of the effects of asymmetric information on the incentives of agents involved in various situations of economic interaction.
Learning Outcomes:
On completion of this course the student should be able to demonstrate an understanding of and be able to formally model moral hazard and adverse selection, and solve problems involving these concepts.
Skills:
Ability to critically analyse problems characterised by asymmetric information and develop solutions.
Content:
This course is concerned with formal analysis of various situations of trade between agents who have different information. The specific topics that will be covered are:
(a) Auction Theory: Private value auction; the optimal design of auctions; common value auctions; the winner's curse;
(b) Non-linear pricing;
(c) Moral Hazard Theory: Principal-agent moral hazard problems; incentive problems in employment contracts; multiple agent problems;
(d) Adverse Selection Theory: The revelation principle; examples including the control of externalities, revelation of preferences for public goods, price discrimination and the regulation of a monopolist with private information.

EC40148: South Asia regional specialism

Credits: 6
Level: Masters
Semester: 2
Assessment: ES100
Requisites:
In taking this unit you cannot take SP40141 or take EC40149 or take EC40150 or take EC40151
Aims: To allow students to develop a more in-depth and contextual understanding of key development issues in South Asia. To give the student an opportunity to plan and implement a piece of research (based on secondary sources) on a topic of their own choosing.
Learning Outcomes: By the end of the unit students will have a deeper, more coherent and up-to-date multi-disciplinary understanding of development issues in South Asia. They will have improved their skills in locating and critically reviewing published research findings about the region and in discussing their views with others. They will have identified and examined in-depth a contemporary development issue in the region.
Skills:
* Cross-cultural and interpersonal sensitivity (Taught/Facilitated)
* Comprehensive and scholarly written communication (e.g. essays) (T/F/Assessed)
* Effective oral communication (e.g. seminar presentations) (T/F/A)
* Ability to select, summarise and synthesis written information from multiple sources (T/F/A)
* Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A)
* Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A)
* Ability to produce work to agreed specifications and deadlines (T/F/A)
* Ability to work independently, without close supervision of guidance (T/F/A)
* Ability to work effectively as part of a group or team (T/F/A)
Content:
Part 1 comprises a review of major economic, social, and political trends in South Asia, 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 Semester 2 units that do not have a regional focus. In this way this unit provides a way for students to develop expertise in the region by applying what they are learning in other units.
Part 3 comprises a series of seminar presentations and discussions based on students essay topics.

EC40149: Africa regional specialism

Credits: 6
Level: Masters
Semester: 2
Assessment: ES100
Requisites:
In taking this unit you cannot take EC40148 or take EC40150 or take EC40151 or take SP40141
Aims: To allow students to develop a more in-depth and contextual understanding of key development issues in Africa. To give the student an opportunity to plan and implement a piece of research (based on secondary sources) on a topic of their own choosing.
Learning Outcomes: By the end of the unit students will have a deeper, more coherent and up-to-date multi-disciplinary understanding of development issues in Africa. They will have improved their skills in locating and critically reviewing published research findings about the region and in discussing their views with others. They will have identified and examined in-depth a contemporary development issue in the region.
Skills:
* Cross-cultural and interpersonal sensitivity (Taught/Facilitated)
* Comprehensive and scholarly written communication (e.g. essays) (T/F/Assessed)
* Effective oral communication (e.g. seminar presentations) (T/F/A)
* Ability to select, summarise and synthesis written information from multiple sources (T/F/A)
* Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A)
* Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A)
* Ability to produce work to agreed specifications and deadlines (T/F/A)
* Ability to work independently, without close supervision of guidance (T/F/A)
* Ability to work effectively as part of a group or team (T/F/A)
Content:
Part 1 comprises a review of major economic, social, and political trends in Africa, 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 Semester 2 units that do not have a regional focus. In this way this unit provides a way for students to develop expertise in the region by applying what they are learning in other units.
Part 3 comprises a series of seminar presentations and discussions based on students essay topics.

EC40150: Latin America regional specialism

Credits: 6
Level: Masters
Semester: 2
Assessment: ES100
Requisites:
In taking this unit you cannot take EC40148 or take EC40149 or take EC40151 or take SP40141
Aims: To allow students to develop a more in-depth and contextual understanding of key development issues in Latin America. To give the student an opportunity to plan and implement a piece of research (based on secondary sources) on a topic of their own choosing.
Learning Outcomes: By the end of the unit students will have a deeper, more coherent and up-to-date multi-disciplinary understanding of development issues in Latin America. They will have improved their skills in locating and critically reviewing published research findings about the region and in discussing their views with others. They will have identified and examined in-depth a contemporary development issue in the region.
Skills:
* Cross-cultural and interpersonal sensitivity (Taught/Facilitated)
* Comprehensive and scholarly academic writing style (e.g. essays) (T/F/Assessed)
* Effective oral communication (e.g. seminar presentations) (T/F/A)
* Ability to select, summarise and synthesise written information from multiple sources (T/F/A)
* Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A)
* Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A)
* Ability to produce work to agreed specifications and deadlines (T/F/A)
* Ability to work independently, without close supervision of guidance (T/F/A)
* Ability to work effectively as part of a group or team (T/F/A).
Content:
Part 1 comprises a review of major economic, social, and political trends in Latin America, 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 Semester 2 units that do not have a regional focus. In this way this unit provides a way for students to develop expertise in the region by applying what they are learning in other units.
Part 3 comprises a series of seminar presentations and discussions based on students essay topics.

EC40151: Middle East regional specialism

Credits: 6
Level: Masters
Semester: 2
Assessment: ES100
Requisites:
In taking this unit you cannot take EC40148 or take EC40149 or take EC40150 or take SP40141
Aims: To allow students to develop a more in-depth and contextual understanding of key development issues in the Middle East. To give the student an opportunity to plan and implement a piece of research (based on secondary sources) on a topic of their own choosing.
Learning Outcomes: By the end of the unit students will have a deeper, more coherent and up-to-date multi-disciplinary understanding of development issues in the Middle East. They will have improved their skills in locating and critically reviewing published research findings about the region and in discussing their views with others. They will have identified and examined in-depth a contemporary development issue in the region.
Skills:
* Cross-cultural and interpersonal sensitivity (Taught/Facilitated)
* Comprehensive and scholarly written communication (e.g. essays) (T/F/Assessed)
* Effective oral communication (e.g. seminar presentations) (T/F/A)
* Ability to select, summarise and synthesis written information from multiple sources (T/F/A)
* Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A)
* Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A)
* Ability to produce work to agreed specifications and deadlines (T/F/A)
* Ability to work independently, without close supervision of guidance (T/F/A)
* Ability to work effectively as part of a group or team (T/F/A)
Content:
Part 1 comprises a review of major economic, social, and political trends in The Middle East, 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 Semester 2 units that do not have a regional focus. In this way this unit provides a way for students to develop expertise in the region by applying what they are learning in other units.
Part 3 comprises a series of seminar presentations and discussions based on students essay topics.


Postgraduate Units:


EC50059: Economics of development

Credits: 6
Level: Masters
Semester: 1
Assessment: CW100
Requisites:
Aims: To review microeconomic concepts and models relevant to understanding how economists analyse problems of scarcity. To review macroeconomic concepts and policies, including theories of economic growth with particular reference to low and middle-income countries. To assess the strengths and weaknesses of economic reasoning, particularly in relation to other social science perspectives.
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 at local, global and international levels. To understand how (and how far) professional economists can contribute to in forming specific local, national and international policy issues, and to formulating strategies for promoting sustainable development at these levels.
Skills: Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated/Assessed). Ability to select, analyse and present numerical data (T/F/A). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision of guidance (T/F/A).
Content: The foundations of economics: economic methodology; demand theory; production theory; market structure and capitalist dynamics; meso, multi-market and macro models; Institutional economics, and applied welfare economics (including an introduction to cost benefit analysis); market failures and state intervention; basic concepts of macroeconomics and determinants of aggregate demand; fiscal and monetary policy; open economy macroeconomics; classical, neoclassical and new growth theory and its critics; trade strategies; debt stabilisation and structural adjustment.

EC50060: International development: contested themes

Credits: 3
Level: Masters
Semester: 1
Assessment: ES100
Requisites:
While taking this unit you must take EC50109
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: By the end of the unit students should (a) have a clearer and more critical understanding of their own ideas and experiences of development (b) be able to locate and evaluate their ideas in relation to the academic literature on development.
Skills: Cross-cultural and interpersonal sensitivity (Taught/Facilitated). Comprehensive and scholarly written communication (e.g. essays) (T/F/Assessed). Effective oral communication (e.g. seminar presentations) (T/F). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work effectively as part of a group or team (T/F).
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: CW100
Requisites:
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 Outcomes: By the end of this unit study fellows should: Have a clear grasp of certain key concepts in Sociology and Social Anthropology; Be familiar with some key approaches within Gender and Social Development practice; Be able to apply these to undertake social analysis of development issues and contexts.
Skills: 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: Social difference and inequality: forms and dimensions of difference; how these are expressed; their basis and how they are reproduced; how they vary and fit together. Living together: units and modes of belonging; dynamics in relationship; links with social inequality. Thinking, knowing and acting: consciousness and empowerment; culture and ideology; identity and subjectivity. Dynamics of Change: environmental dimensions; endogenous/exogenous factors; making change happen through violence/non-violence; policies, organisations and projects. Frameworks of Understanding: methods and approaches of social research; logic of explanation; power/knowledge; morality and development critique.

EC50063: Policy theory & the politics of developing countries

Credits: 6
Level: Masters
Semester: 1
Assessment: CW100
Requisites:
In taking this unit you cannot take SP50139
Aims: 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: By the end of the units students should:
* have a critical understanding of key concepts from political science necessary for the analysis of policy, both in general and in relation to development policy;
* be critically aware of the range of 'actors' in the policy process and place them in theoretical context;
* have a critical understanding of the way Western political theory has been applied to developing countries;
* show an understanding of basic conceptualisations of democracy, state, nationalism that had their origins in the West but are used to evaluate the politics of developing countries.
Skills: Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision or guidance (T/F/A).
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: The politics of studying the politics of developing countries; The state of the Third World State; The problem of democratisation, problematising democracy; Contesting the Nation; contesting Nationalisms; Conceptualising politics; Politicising concepts.

EC50066: Postgraduate dissertation preparation (MID/MGIPA)

Credits: 6
Level: Masters
Semester: 2
Assessment: CW100
Requisites:
Aims: To develop skills in formulating a research question and with plans for 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 Outcomes: By the end of the unit students should have a deeper and more critical understanding of how to formulate and develop an original research question. They should also have improved their skills in researching, presenting and critically appraising possible topics.
Skills: Cross-cultural and interpersonal sensitivity (Taught/Facilitated). Concise, time-bound and effective written communication (e.g. briefings / exams) (T/F/Assessed). Effective oral communication (e.g. seminar presentations) (T/F). Ability to develop rigorous arguments through precise use of concepts and models (T/F). Ability to synthesise multidisciplinary perspectives on the same problem (T/F). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F). Ability to work independently, without close supervision of guidance (T/F). Ability to work effectively as part of a group or team (T/F).
Content: The unit consists of an intensive workshop lasting one week. During this period students are briefed on what constitutes a good dissertation and on methodological options. They are also required to come up with a possible dissertation topic. They discuss these in small groups, as well as with a tutor, and present a draft dissertation synopsis both on paper and orally.

EC50071: Management of development (MID)

Credits: 6
Level: Masters
Semester: 2
Assessment: CW50EX50
Requisites:
Aims: 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 and understand how the management of development fits with a wider analysis of the development policy process.
Skills: Cross-cultural and interpersonal sensitivity (Taught/Facilitated). Concise, time-bound and effective written communication (e.g. briefings / exams) (T/F/Assessed). Effective oral communication (e.g. seminar presentations) (T/F). Ability to select, analyse and present numerical data (T/F). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work effectively as part of a group or team (T/F).
Content: The unit involves a review of process and blueprint approaches to project cycle management (including the use of logical framework, cost-benefit, and stakeholder analysis, contracting and performance assessment) with particular reference to micro enterprise 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.Illustrative 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.

EC50073: E1 International economics 1

Credits: 0
Level: Masters
Semester: 1
Assessment:
Requisites:
Unit for the MA in Interpreting & Translating.
Aims & Learning Objectives:
The aim of these elective units is to provide an introductory outline of the main features of economic analysis and show how this may be of some help in analysing important contemporary issues. Students who have taken the units should therefore be able to demonstrate an appropriate knowledge and understanding of economic analysis and terminology in their translation and interpreting activities.
Content: The course material is chosen to demonstrate how economic analysis can be applied not only to UK domestic issues but also to a broad selection of European and more widely international topics. The main areas dealt with are as follows:
* Markets: demand and supply - Case study: the housing market;
* Assessing macro-economic variables;
* Macro-economic policy;
* Inflation and unemployment;
* Public debt, the balance of payments and exchange rates;
* EMU and possible UK membership. Students are expected to do appropriate background reading.

EC50074: E1 International economics 2

Credits: 0
Level: Masters
Semester: 2
Assessment:
Requisites:
Unit for the MA in Interpreting & Translating.
Aims & Learning Objectives:
The aim of these elective units is to provide an introductory outline of the main features of economic analysis and show how this may be of some help in analysing important contemporary issues. Students who have taken the units should therefore be able to demonstrate an appropriate knowledge and understanding of economic analysis and terminology in their translation and interpreting activities.
Content: The course material is chosen to demonstrate how economic analysis can be applied not only to UK domestic issues but also to a broad selection of European and more widely international topics. The main areas dealt with are as follows:
* Markets: demand and supply - Case study: the housing market;
* Assessing macro-economic variables;
* Macro-economic policy;
* Inflation and unemployment;
* Public debt, the balance of payments and exchange rates;
* EMU and possible UK membership. Students are expected to do appropriate background reading.

EC50098: International development extended essay (MID)

Credits: 6
Level: Masters
Semester: 2
Assessment: ES100
Requisites:
Aims: To allow study fellows the opportunity to develop a more in depth understanding of a key development issue of their own choice.
Learning Outcomes: By the end of the unit students will have identified and examined in considerable depth a specialist development issue of their own choosing. They should have a deeper, more coherent, and more analytical of the selected topic.
Skills: Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated). Ability to select, analyse and present numerical data (T/F/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision of guidance (T/F/A).
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 quite 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 and in taking this unit you cannot take EC50100
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, credible and sustained argument that addresses the research question, and to do this within a fixed time period. The period allocated for writing dissertations may also provide some students with an opportunity to go on placement (sometimes also referred to as internship - in this case the two terms mean the same thing) in order to gain work experience relevant to any aspect of their programme of study. Where possible dissertation topics and placements will be explicitly linked, but this is not a requisite for a placement.
Learning Outcomes: An ability
(a) to define and answer a research question in a chosen area of interest related to development,
(b) to support the argument with relevant empirical evidence and/or reference to appropriate theory, and/or linking together arguments from disparate literatures or disciplinary perspectives,
(c) to do all the above in written form in a dissertation that conforms to acceptable standards of presentation and expression, and
(d) to complete the assignment within an agreed deadline.
Skills: Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated). Ability to select, analyse and present numerical data (T/F/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision of guidance (T/F/A).
Content: Any area of development studies for which an adequate level of supervision can be offered. Dissertations may be based on any combination of
(a) review of published literature
(b) analysis of secondary data
(c) analysis of primary data collected by the student, for example through participant observation while on placement.
The dissertation should include a BRIEF reference to the methodology employed in its production (for example, how relevant secondary literature was identified and organised). The dissertation should also make explicit reference to at least one important development issue covered as part of the Diploma stage fo the programme. The nature of a placement may vary, but should be set out clearly and approved by the Director of Studies in a placement proposal letter prior to its inception. At the minimum, a placement should comprise a structured set of meetings and agreement with a named organisation to collaborate in collection and analysis of data to be incorporated into the student's dissertation. At the other extreme, a placement may require the student to undertake substantial tasks that are not directly related to their dissertation. In all cases the Director of Studies may agree to either an appropriate extension of the deadline for submission of the dissertation. This may also require a change of the student's status from full-time to part-time, and in some cases temporary suspension of registration.

EC50100: International development: diploma dissertation

Credits: 12
Level: Masters
Semester: 2
Assessment: DS100
Requisites:
Before taking this unit you must take EC50066 and in taking this unit you cannot take EC50099
Aims: To draw upon issues covered by the PG Certificate and PG Diploma stages of the Masters in International Development to produce a sustained argument concerning a development issue of particular interest and/or career relevance.
Learning Outcomes: An ability
(a) to define and offer a coherent answer to an original research question in a chosen area of interest related to development,
(b) to support the argument with relevant empirical evidence and/or reference to appropriate theory, and/or critically linking together arguments from disparate literatures or disciplinary perspectives,
(c) to do all the above in written form in a short dissertation that conforms to acceptable standards of presentation and expression, and
(d) to complete the assignment within an agreed deadline.
Skills: Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated). Ability to select, analyse and present numerical data (T/F/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision of guidance (T/F/A).
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. The more limited time available and length of assessed work means that students will not be able to collect as much empirical material, or draw upon the range of depth of literature than is expected of an MSc Dissertation.

EC50105: International development: towards synthesis

Credits: 6
Level: Masters
Semester: 1
Assessment: EX100
Requisites:
Before taking this unit you must take EC50060
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: By the end of the unit students should have a clearer, more integrated and comprehensive grasp of core issues in development studies, based on a critical understanding of its disciplinary foundations in economics, politics, anthropology, sociology and policy analysis.
Skills: Cross-cultural and interpersonal sensitivity (Taught/Facilitated/Assessed). Concise, time-bound and effective written communication (e.g. briefings / exams) (T/F/A). Ability to select, summarise and synthesis written information from multiple sources (T/F). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work independently, without close supervision or guidance (T/F/A).
Content: 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. Reflection on the relationship between different philosophical and ideological approaches to the analysis of development problems. 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: CW100
Requisites:
While taking this unit you must take EC50060
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.
Learning 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.
Skills: Cross-cultural and interpersonal sensitivity (Taught/Facilitated). Concise, time-bound and effective written communication (e.g. briefings / exams) (T/F/Assessed). Effective oral communication (e.g. seminar presentations) (T/F). Ability to select, analyse and present numerical data (T/F/A). Ability to select, summarise and synthesis written information from multiple sources (T/F). Ability to develop rigorous arguments through precise use of concepts and models (T/F/A). Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A)Ability to produce work to agreed specifications and deadlines (T/F/A). Ability to work effectively as part of a group or team (T/F/A).
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.

EC50113: Managing sustainable development in differing societies

Credits: 6
Level: Masters
Semester: 2
Assessment: CW100
Requisites:
In taking this unit you cannot take EC50146
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 socio-economic institutions 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 case studies from developed and developing economies.
Learning Outcomes:
* an awareness of inter-disciplinary considerations in researching contemporary business;
* relevant knowledge of contemporary economic, social and political developments and their possible relevance for social science research in given business/market relations;
* 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.
Skills:
* Evaluate research and evidence critically to appropriate postgraduate standards using a variety of academic and non-academic sources;
* Synthesise information from a variety of academic perspectives and non-academic sources for a relevant understanding of theoretical and practical approaches;
* Plan, execute and evaluate the investigation and presentation of study and research projects;
* 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; concepts and measures of sustainability; practice and policy in natural and environmental resource management.

EC50116: Microeconomic theory

Credits: 6
Level: Masters
Semester: 1
Assessment: EX80OT20
Requisites:
Aims: To provide a good understanding at graduate level of the theory and techniques of microeconomic analysis.
Learning Outcomes: 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F).
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: To cover recent developments in macroeconomic theory at an advanced level. It will help students to achieve a critical understanding of recent macroeconomic research.
Learning Outcomes: 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 unit students will be sufficiently competent to pursue doctoral research and policy-oriented work.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F).
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: 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 decisions.
Learning Outcomes: Students will have a critical understanding of a wide variety of econometric techniques especially as applied to cross section data and be able to undertake their own econometric analysis making use of those techniques with 'live' data.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, analyse and present numerical data using econometric packages (T/F/A). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A).
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: 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.
Learning Outcomes: The learning outcomes of the unit are for students 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 and be critically aware of how the theoretical results are used and applied in practice;
(3) be able to undertake their own (time series) econometric exercises.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, analyse and present numerical data using econometric packages (T/F/A). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A). Ability to produce work to agreed specifications and deadlines (T/F/A).
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 macroeconomics, finance, international trade and agricultural economics.

EC50120: Welfare theory & cost benefit analysis

Credits: 6
Level: Masters
Semester: 1
Assessment: EX80OT20
Requisites:
Aims: 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.
Learning Outcomes: 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F).
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: To provide an account of the modern economic analysis of economic growth; though the unit draws appropriately on techniques of dynamic optimisation, the emphasis is on economic intuition and empirical relevance.
Learning Outcomes: 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Assessed/Facilitated). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F).
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: To address issues of taxation by application of economic theory.
Learning Outcomes: 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 unit is theoretical and the emphasis is on analysis rather than description.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
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: To understand public sector issues from an economic perspective. The issues covered will be based on both microeconomic and macroeconomic theories.
Learning Outcomes: 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
Content: This unit 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: 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 Outcomes:
* To be able to critically appraise the theoretical models and empirical methods applied in (micro) Transition Economics;
* To have sufficient skills to critically appraise policy instruments and recommendations.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
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: 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 Outcomes:
* 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
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: To provide a rigorous account of the modern economic analysis of the economics of environmental valuation and policy-design.
Learning Outcomes: 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.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
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: To provide a rigorous account of the modern economic analysis of natural resource use and of sustainable development.
Learning Outcomes: To 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; To 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; To have sufficient skills to begin to empirically model the sustainability of an economy.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to apply theory to policy areas (T/F/A).
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: OT100
Requisites:
Aims: To introduce students to, and/or consolidate students' knowledge of, the language of the area in which they intend to carry out primary research. To enable students to be able to identify specific further training requirements.
Learning Outcomes:
* The student will be able to conduct a basic introductory conversation in the language.
* The student should know a range of terms appropriate to their reseach 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.
Skills: Cross-cultural and interpersonal sensitivity (Taught / Facilitated / Assessed). Comprehensive and scholarly written communication (e.g. essays) (F). Effective oral communication (e.g. seminar presentations) (T/F/A). Ability to identify and use a range of appropriate research terminology in the language in question (T/F/A). Ability to identify areas of further development of language skills as required.
Content: This unit may be taken in a variety of forms appropriate to the teaching resources available and as guided by the Foreign Language Unit. Normally the student will have a tutor with whom they will identify and then implement a language learning strategy. These may include: 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:
Aims: To offer students the opportunity to research a topic in mainstream economics or where appropriate the economics of development.
Learning Outcomes: The learning outcomes for this unit involve the (1) a systematic and analytical understanding of the chosen topic area; (2) the ability to theorise on and/or empirically explore the chosen topic; (3) ability to draw appropriate conclusions and demonstrate an awareness of their strengths and limitations.
Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Facilitated/Assessed). Ability to select, analyse and present numerical data using econometric packages (F/A). Ability to select, summarise and synthesis written information from multiple sources (F/A). Comprehensive and scholarly written communication (F/A)Concise and effective written communication (e.g. briefings / written exams) (F/A). Effective oral communication (e.g. lecture question and answer) (F). Ability to formulate a research question, then develop and present an original & coherent answer (F/A). Ability to produce work to agreed specifications and deadlines (A). Ability to work independently with limited supervision of guidance (F/A). Ability to apply theory to policy areas (F/A).
Content: The unit is organised around regular supervision sessions with a member of staff who has related research interests. In these meetings the student will receive guidance on how to undertake research and how to write a dissertation. The supervisor will review progress and will respond to research initiatives shown by the study fellow.

EC50143: Globalisation 2: political economy of globalisation

Credits: 6
Level: Masters
Semester: 2
Assessment: ES50EX50
Requisites:
Aims: This unit equips students with an historical and analytical understanding of economic issues and international institutions in the context of globalisation. 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 theoretical debate on the concept of globalisation will be introduced and analysed from a historical and political economy perspective.
Learning Outcomes: By the end of the unit, students should be able to develop a comprehensive understanding and critical awareness of both academic and more popular arguments on:
1. The ideological and historical origins of economic theories in the context of globalisation debate.
2. The role of trade, foreign direct investment and multilateral corporations, regional integration and global finance in the process of globalisation.
3. The impacts of globalisation on the ability of the nation state to produce independent domestic policies.
4. The scope for national economic policies within the globalised economy.
Skills: Comprehensive and scholarly written communication (e.g. essays); Ability to select, analyse and present numerical data; Ability to select, summarise and synthesis written information from multiple sources; Ability to develop rigorous arguments through precise use of concepts and models; Ability to synthesise multidisciplinary perspectives on the same problem; Ability to select and use appropriate ideas to produce a coherent response to a pre-set question; Ability to formulate a research question, then develop and present an original & coherent answer; Ability to produce work to agreed specifications and deadlines; Ability to work independently, without close supervision of guidance.
Content:
Lecture 1: Methodology and an overview of the world economy.
Lecture 2: A brief historical perspective.
Lecture 3: Foreign Trade.
Lecture 4: Foreign Direct Investment (FDI) and Multinational Companies (MNCs).
Lecture 5: Global finance.
Lecture 6: Regional Integration.
Lecture 7: Role of the World Bank, IMF and WTO.
Lecture 8: Privatisation.
Lecture 9: Globalisation and the state.
Lecture 10: Debt crisis and aid.
Lecture 11: National variations in policy stance.

EC50144: World politics: conflict, security & development

Credits: 6
Level: Masters
Semester: 2
Assessment: ES50EX50
Requisites:
Aims: Provides a comprehensive introduction to the academic study of International Relations. Conceptualisation and critical evaluation of the influence of:
* international relations on the political and economic development in developing countries;
* the Cold War on the international political order;
* the Cold War on the development of the institutions and structure of the international economic order;
* post-Cold War international order on the prospects of effective activity by relief and development organisations;
* post-Cold war international economic order on the economic prospects of developing countries. Critically evaluate the growing relationship between conflict, security, and development.
Learning Outcomes: Identify the main competing perspectives or paradigms of International Relations and International Development. Comprehensive and critical understanding of, and the ability to develop rigorous arguments relating to:
* the way the Cold War influenced domestic and regional developments in the Third World.
* the role of the United Nations and its operation, particularly in those areas that relate to developing countries.
* how aspects of the post-Cold War international order have contributed to changes in the operations of humanitarian aid and relief organisations.
* the influence of the post-Cold War international economic order on the prospects of economic development in developing countries.
* how the issues of conflict, security, and development are becoming more interconnected than ever before.
Content: Comprehensive and scholarly written communication (e.g. essays). Ability to select, summarise and synthesis written information from multiple sources. Ability to develop rigorous arguments through precise use of concepts and models. Ability to synthesise multidisciplinary perspectives on the same problem. Ability to select and use appropriate ideas to produce a coherent response to a pre-set question. Ability to produce work to agreed specifications and deadlines.

EC50146: Sustainable development and livelihoods (MID)

Credits: 6
Level: Masters
Semester: 2
Assessment: CW50EX50
Requisites:
Aims: To provide an in-depth understanding of selected issues concerning the sustainability of livelihoods of people in developing countries: their composition in terms of activities, resources and institutional options; and the implications of wider policy and cultural contexts.
Learning Outcomes: Students will appreciate the diversity of livelihood profiles and contexts in developing countries, understand how livelihoods are embedded in the key concerns of sociology and political economy expressed as an institutional landscape in which micro behaviour interacts with meso, macro and global levels of opportunities and constraints, and be able to critically assess the impact of policies at both micro and macro level on livelihood strategies.
Skills:
* Cross cultural and interpersonal sensitivity (Taught/Facilitated).
* Comprehensive and scholarly written communication (e.g. essays) (T/F).
* Concise, time-bound and effective written communication (e.g. briefings/exams) (T/F/Assessed).
* Effective oral communication (e.g. seminar presentations) (T/F).
* Ability to select, summarise and synthesise written information from multiple sources (T/F/A).
* Ability to develop rigorous arguments through precise use of concepts and models (T/F/A).
* Ability to synthesise multidisciplinary perspectives on the same problem (T/F/A).
* Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A).
* Ability to produce work to agreed specifications and deadlines (T/F/A).
* Ability to work independently, without close supervision or guidance (T/F).
* Ability to work effectively as part of a group or team (T/F).
Content: The unit reviews current models, claiming to capture the multi-dimensionality of sustainable livelihoods analysis, especially in terms of the interaction between different sets of resources, assets and activities, These models are informed by key theoretical debates about the relationship between forms of capital: human, social and natural. It deploys an umbrella framework of institutional responsibility to explore the combination of options (personal, familial and wider institutional levels) available for people's agency. It therefore considers the spatial framing of sustainable development and especially the boundary between private and public behaviour, requiring different time preferences and types of institutional performance (market/collective action). These themes are revealed through discussion of empirical cases referring to life cycles, crises, inter-generational bargains, peasant analogues, pursuit of security, common property management, migration (local and global), rural-urban linkages, conservation strategies of essential natural resources.

 

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