BA (Hons) Economics with Marketing

This module has three distinct but constituent sections. After a week of introduction, its first part, made up of five weeks of lectures, deals with different key thinkers in economics and the schools of economic thought that they gave rise to. The focus of this section is to present important Economists, their core ideas, and discuss why their viewpoints are so different. The student will be introduced to Adam Smith, David Ricardo, Karl Marx and Alfred Marshall. Through this sequence the student will become aware of different systems of analysis in the field of economics and start her/him thinking of the different frameworks of economic theorising.

The neoclassical school, following the work of Alfred Marshall, will be presented last indicating that the next two sections will be primarily concerned with tools and analytical arguments emanating from this tradition. The next seven weeks will be on microeconomic theory. In contradistinction with the plurality of the first part of the module, this part will focus on deductive reasoning used in mainstream rational choice and perfect competition theory. The module will cover preference theory, demand and supply, income and substitution effects, cost and revenue curves, perfect competition and partial equilibrium theory. This progression will end with a description of general equilibrium and the two welfare theorems. The focus here is the internal consistency of neoclassical microeconomics as exemplified in rational choice theory and competitive markets, and its combination of mathematical methods and deductive logic.

The last seven weeks will be on macroeconomics. In this section the focus will be on the following specific concepts: national accounting, inflation, unemployment and business cycles. The analysis of these concepts will be through the use of contemporary schools of economic thought (New Classical, New Keynesian, Post Keynesian, Austrian and Monetarist) and their analytical frameworks. By viewing these concepts through these different frameworks, the student is introduced into open ended discussions on these topics as different answers are equally valid as long as students can clearly identify the theoretical frameworks that he/she is using. This section’s purpose is also to introduce topics that will be investigated at greater length in the second year of the programme.

This module introduces students to economic reasoning and basic issues in economic methodology.

The module starts off with a concise introduction to key questions in the philosophy of science, such as explanation, laws, inductive and deductive reasoning, verification and falsification, scientific paradigms, and theories and models. These tools are then used to discuss the epistemological status of economics.

The following two weeks are devoted to what economics studies, and how. Competing definitions are presented, with a special focus on production and exchange paradigms, and the types of reasoning associated with them (economic change and systemic coherence vs. equilibrium and optimal allocation).

The next two weeks focus on levels of analysis (micro, macro, and intermediate) and methodological issues associated with them, such as individualism vs. holism.

The fourth part of the module addresses the dichotomy, which has divided economic analysis since the Methodenstreit, between general principles and historical contingency. It discusses the divide between economic theory and economic history, as well as possible ways ahead.

The last two weeks are devoted to rationality. They cover classical rationality, forms of bounded rationality, the problem of determination and freedom, and possible ways to overcome existing dichotomies and limitations.

This module complements the Economic Reasoning module, and compares the viewpoint of economics with that of sociology, psychology, management and politics.

The first two weeks are devoted to key themes in the philosophy of the social sciences. The remainder of the module consists of four two-week “workshops”, each devoted to the possible interfaces between reasoning in economics and another social science.

In each workshop, the first session is led by a guest lecturer from the relevant department, and raises questions such as, what is this discipline’s viewpoint? What makes it different from other disciplines? What methodologies does it use? What is its view of the social world?

The second session, led by this module’s convener, relates the first session to economics, also by discussing insights from classic works in the discipline that have direct relevance for economics.

This module introduces the mathematical methods used in the analysis of modern economics. This module is suitable for students both with and without an A Level in Mathematics (or equivalent). Students will revise and apply the basic concepts from algebra and differential calculus to relevant economic problems. Furthermore they will learn partial derivatives and second partial derivatives of functions of two or more independent variables, constrained and unconstrained optimization. The students will be taught how to use these tools in economic applications.

This module is an introduction to marketing. By the end of the module you will have a knowledge of the role of marketing within organisations and within society, and of the principles of marketing management.

Conceptually, the module is divided in two sections. The focus of the first section is to understand what marketing and its role within society. In the first five weeks, you will be introduced to the definition of marketing, the role of marketing within organisations, the value of marketing within organisations and society, the history of marketing, the role of marketing in constructing the consumer society, and the relationship that marketing has with society (i.e. marketing ethics, and sustainability).

We will study both traditional and critical/interpretativist theories of marketing.

In the second half of the module, you will be introduced to foundational topics in marketing management. You will also be introduced to marketing strategy through an brief overview of the 4Ps of marketing - Product, Place, Promotion and Price.

This module aims at providing a good understanding of core marketing management principles applied in consumers, industrial services and organisation both from a theoretical and a practical standpoint. It seeks to explain the value of a marketing focus to both customer and supplier, and analyses what marketing can do and does contribute to both individual and organisational users.

This module will cover all the topics needed for marketing management and planning. The module will start analysing strategic tools for marketing strategy definition such as segmentation, targeting and positioning. It will then analyse the marketing process through a review of the marketing mix principles i.e. the 4Ps (Product, Place, Promotion, and Price). It will then explore in detail each one of these tactics. Specifically, students will learn about the strategic role of the product within marketing strategy looking at product management practices and the product innovation process. Students will then analyse the elements of the augmented product model with a focus on the role of branding within marketing management and they will be exposed on how to build brand equity within the company. Finally, students will look into differences between the definition of product and services, and they will be introduced to service marketing practices.

The module will then move to analyse other tactics of the marketing mix. Specifically, students will look into pricing strategies as tools for maximising the profitability of the company and as a promotional tool for reaching consumers. The module will then focus on the Promotion tactics. Students will analyse the topic of Integrated Marketing Communications in order to understand how the different promotional practices used by the company do not happen in isolation, but they are the result of an integrated strategies in order to reach the objectives of the company. The module will then investigate the elements of Integrated Marketing Communication (or Marketing Communication Mix) with a particular focus on advertising, digital advertising and PR (from a management perspective). Furthermore, the module will look at the relationship between sales promotion and sales management, with a particular focus on how Integrated Marketing Communications influence the sales of the company.

Finally, the module will investigate the Place tactics looking into distribution strategies. This section will explore both on B2B and B2C distribution tactics. However, the focus will be mostly on retailing practices within the company. The theories presented so far will be complemented with real life examples and exercises. Students will also be exposed to case studies analysis to apply the theory into practice.

This module builds on the first year Introductory Economics module and the Mathematics and Statistics for Economics and Business module to give a more in depth perspective of microeconomic theory and its technical apparatus.

The first six weeks give an overview of the technical and theoretical analysis that forms the core of the neoclassical theory of consumption, production and market interaction. It introduces the following topics: choice under uncertainty, inter-temporal choice, incomplete and asymmetric information, principal-agent problem, basic game theory, dynamic and static oligopoly, price differentiation, markup pricing and market concentration.

In contrast, the rest of the module focuses on aspects of microeconomic behavior that do not conform to rational choice theory as developed in traditional neoclassical economics. Each week will explore a different alternative approach, icluding: Simon’s Bounded Rationality, Sen’s Capability Approach, Behavioural Economics.

The module aims to provide a good understanding of the key areas of macroeconomics, through the analytical tools of different schools of thought.

This module covers the evolution of macroeconomic analysis through a succession of key models, including Keynesian, Monetarist, New Classical, Real Business Cycle, New Keynesian, and Post Keynesian approaches. It studies the analytical details, the underlying economic assumptions, and the historical context in which they emerged. It also provides an introduction to structural theories of business cycles. You study economic growth and economic development, explaining the differences between the two and using historical examples. Classical, Keynesian, and neoclassical theories, as well as structural dynamics are discussed.

The final two weeks are devoted to the political economy of economic policy, from the viewpoint of different schools of thought: controversies on the effectiveness of fiscal and monetary policy, individual rationality applied to policy decisions, economic and political disagreements, models of voting on macro-policy, and recent developments.

This module introduces the quantitative methods used by economists in their empirical work. You will be technically trained in estimation theory, and introduced to broader questions regarding the use of these tools in applied analysis.

You study the basic properties of the normal distribution, and the difference between the normal and other types of probability distributions. You also learn hypothesis testing and the basic theory for linear regressions and the use of ordinary least squares in empirical analysis. Furthermore, you will learn about problems that may arise with this estimation method.

This is followed by two weeks of methodology on statistics for the social sciences, and a philosophical discussion on the appropriate use and limits of these techniques in analysing social phenomena.

This module will focus on the application of quantitative theory using data sets that you were introduced to in the Quantitative Economics module.

With the guidance of the lecturer and associate lecturers, you will find and collect appropriate data (from Eurostat, OECD, UK and other national governments databases, etc.), form a research question and come up with statistical tests in order to test your hypothesis. You will then write a report that explains your findings and the reason you used this specific estimation tool in relation to your data set. An integral part of this is to consider the limitations of your statistical toolbox in analyzing the specific data set, and more broadly, the limitations of statistical analysis in answering policy or theoretical questions.

An important part of this module is to train you in using computer packages to analyse real data. Students will learn to use computer programs to run regressions, do hypothesis testing, correlation analysis and, more generally, analyze the raw data you have collected.

This module builds on the first year module, Introductory Economics, by discussing, in depth, key theoretical insights from alternative schools of economic thought. This objective is achieved by focusing on a canon of key texts in the history of the subject, and tracing the evolution of the ideas emanating from, or strongly related to these texts, through time. The five main texts analysed are: Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy and Taxation, Alfred Marshall’s Principles of Economics, Wicksell’s Interest and Prices and John Maynard Keynes’ The General Theory of Employment, Interest and Money. Each text is used as a starting point for a discussion on the evolution of the following economic concepts: specialisation and gains from trade, distribution theory, theory of the firm, theory of money, and the theory of aggregate macroeconomic relationships. Finally, the module discusses the link between past and contemporary economic thought, contextualising it within a broader perspective that includes points of view such as those of feminist economics and from geographically diverse traditions, and the use of these theoretical structures in analysing contemporary economic problems.

This module’s central purpose is to investigate the methods of historical enquiry useful for an economist and give a survey of the economic and social conditions from the industrial revolution until the fall of the Berlin Wall.

The first week covers historiography with special emphasis on the techniques economists and economic historians use. This week will focus on the various methods economic historians use, from statistical and data analysis, to economic theory applications and narrative histories, analysing the strength and weakness of each approach for different types of enquiry.

The rest of the module provides an overview of key economic and social changes in Europe for the period from the start of the industrial revolution until the fall of the Berlin Wall. You will learn about the economic, social and technological changes that occurred during these 250 years. You will learn about changes in wealth, aggregate income and income distribution, consumer habits, wages, trade and monetary aggregates. You will also learn about institutional changes (Labor and Poor Laws, Welfare State) and social changes (family structure, workers unions, literacy) and the interplay between institutional/social and economic structures. Finally, you will discuss the changing technological conditions of society during this period and its ramifications for the social and economic organisation of society.

This module not only gives you general knowledge of the economic and social evolution of Europe, but also provides context and gives you an understanding of why economic theory developed the way it did.

This lecture course will introduce you to the fundamentals of consumer psychology and behavioural economics.

It will give you an understanding of the fundamental decision making processes and the factors that influence these processes. It covers topics such as prospect theory and classical economics, brain structures and information processing, heuristics and rules of thumb, and framing and influencing techniques.

It also discloses the various strategies used by marketers to differentiate their products, leverage brands, set strategic prices, reduce the effectiveness of consumer search, and it compares the effectiveness of each.

The course covers topics such as the types and effectiveness of pricing strategies, individual differences in uptake of pricing strategies, value perceptions and subconscious influences (priming), and ethical and legal issues around influencing consumer choice.

The lectures in this course will be supplemented by several assignments designed to develop and enhance practical skills, and further develop familiarity with consumer psychological methods and theories.

This module aims at investigating more in depth product management and product innovation strategies within the marketing process. The objective is to show the importance of product management and new products within the company, to present a practical approach to product and innovation management and investigating the principles of new product development.

The module will develop into three section: product strategies, innovation management and new product development. First, the module will review the definition of product within the marketing mix. In this module, we will define the concept of products as including also services. This type of perspective is widely acknowledged in marketing management practice and within academic literature. Furthermore, the module will explore how product strategy relates to brand strategy, portfolio management and to packaging.

Second, the module will look at the concepts of innovation and innovation diffusion. Initially, the module will define what innovation is and how it relates to the concept of creativity within marketing literature. Then students will learn how to manage creativity and idea generation process. Then the module will move into the topic of innovation management and how innovations are managed within the company. Specifically, the module will explore the relationship between innovation and research and development, organisational knowledge, the operations and the strategic alliances of the company. The students will be then exposed to the concept of open innovation, and how this idea of open innovation relates to the traditional concept of innovation explored by marketing research and practice. Finally, this section will look into the relationship between innovation and management of the intellectual property, especially in relationship to new technologies.

Third, the module will look into the new product development area. Specifically, the students will look into new product development strategies, new services innovation, product testing, how market research influences new product development, commercialisation strategies and how to manage the new product development. Finally, they will learn how to manage the performance within new product development and launch.

The module will present different theories about innovation and new product development. Theories will be complemented with real life example and cases to put the knowledge acquired with these theories into practice.

This module gives you an understanding of the international economy that integrates the real and monetary sides, and the economic and the political spheres. Different traditions of economic analysis will be used to shed lights on three main issues: the European Union and the Eurozone, China’s trade policy, and the international monetary system since Bretton Woods.

The first five weeks concentrate on trade. They cover the standard tools (comparative advantage, neoclassical trade theory, and new economic geography) as well as analytical and historical perspectives on international competition. It focuses on different insights concerning economic analysis and policy, as well as the integration with the political dimension.

The last five weeks focus on the international monetary system. By combining the standard tools of international macroeconomics with historical and analytical perspectives, the aim is to understand the evolution of the international monetary system since Bretton Woods, and its effects on national economies. Special attention is given to currency areas, especially the Eurozone, and to the connection between monetary arrangements and real and political aspects.

This module extends your knowledge on key microeconomic topics and gives you an interdisciplinary perspective. It focuses on social questions and introduces, in a critical manner, the types of answers economic theory provides. The four core questions investigated are:

• What goods should the government provide, and how should this provision be funded?
• How do we account and care for future generations?
• How do we deal with environmental issues?
• How does the government decide what action to take in a democratic society?

This module looks at consumers from a social, cultural, and anthropological point of view. The assumption is that brands are cultural icons and as such they have meanings that go beyond their economic value. As such, this module will look at products, services, branding, retailing, and advertising from sociological, anthropological and cultural perspectives.

Your existing understanding of marketing will be challenged, and you will develop a critical view on contemporary marketing issues. You will also be challenged to explore more complex topics in consumer research and to develop a critical perspective on the taught topics.

This module explores the emerging field of behavioural economics – a body of work that lies in the interface between economics and other disciplines, such as psychology, sociology and philosophy.

The module builds on introductory economics knowledge. It engages in a detailed, critical analysis of the assumptions that characterize homo economicus – the rational economic actor. It outlines important empirical challenges and criticisms levelled against viewing agents as expected utility maximisers. In doing so, it covers different strands of behavioural economics – both classical (developed primarily by Herbert Simon) and modern (developed, among others, by Daniel Kahneman, Amos Tversky and Richard Thaler). It examines their historical origins, pioneers, philosophical underpinnings, methodological differences and important insights. 

The module explores psychological and philosophical foundations of human decision makers and examines the role of cognitive limitations, constrained computational abilities, emotions, social preferences and the decision environment in shaping the behaviour of human agents. It develops fundamental notions such as bounded rationality, satisficing and heuristic decision-making and presents a selection of models that employ them. It also sketches the different fields of economics and social sciences where these insights are fruitfully applied. The ethical and philosophical conundrums associated with translating some of these insights in to actionable public policy and designing institutions are also analysed.

The objective of this module is to equip students with some of the knowledge and tools to analyse the internal and external business environment and devise marketing strategies that help to distinguish businesses from their key competitors whilst adding value to the product/service offering. The module will be divided into two section: one more theoretical and one more practice. The module will start defining the role of marketing strategy within the business strategy and the corporate strategy of the company. It will also help to differentiate the three levels, and it will highlight the relationships between these three levels of strategy. The module will then look into the process of creation of a marketing plan as a core tool for the definition of the strategy. The marketing planning process will start from understanding the market opportunities of the company, through the identification of attractive market segments, to the differentiation and brand positioning. The module will then move on the formulation of marketing strategies such as marketing strategies for new market entries, growth markets strategies, mature and declining markets strategies. Finally, students will learn how to implement and control strategy, and to measure effectively the performance of a specific strategy. In the second section, students will be required to complete a business simulation. In order to show a practical understanding of the concepts of the first part, students will be divided into teams and will be asked to complete in a simulation related to marketing strategy (i.e. Markstrat). This simulation will allow students to draw a parallel between marketing strategy and marketing tactics (4Ps). This will also allow them to apply the knowledge about other elements of marketing management that they have been studying in other modules.

Digital Marketing (DM) and Social Media Marketing (SMM) are two areas of marketing that are growing, and where there is big potential of future employment of graduates. While advertising spending on traditional media has recently declined, firms spend increasing amounts for online communication and public relations. This module will provide students with the theories, principles and practice of digital marketing and social media. Conceptually this module is divided into 3 sections: digital marketing and social media theories, digital marketing communications mix, and social media practice.

Since DM and SMM are strongly characterised by practice and by the latest trends, some advanced theories within marketing management and consumer behaviour will be introduced and applied to social marketing and social media in this section. For example, students will be introduced to theories of content marketing, consumer engagement, viral marketing, community marketing and brand public. This section will also touch upon the role of branding within digital environment, and the relationship between branding and culture. These theories will be adjusted according to the latest research to keep the module up-to-date with trends.

The second section will specifically look at the digital marketing communications mix (DigMarcom Mix), and the relationship between the DigMarCom Mix and the whole marketing strategy. Student will be exposed to how to build the DigMarCom strategy, and to how to evaluate the impact of these strategies through several metrics. Student will then focus on some digital marketing tactics such as viral marketing, mobile marketing, email marketing, Search Engine Optimisation (SEO), Pay Per Click (PPC), etc.

In the third section, the module will specifically focus on Social Media showing the latest trends in research and practice in these area. For example, students will look into web-psychology and viral content for sharing website (i.e. Youtube), the role of microblogging (i.e. Twitter) for launching and developing new products, and the role of social networks (i.e. Facebook) for emotional contagion. These topics will be updated according to the latest research in the field as well. This section will also discuss how you can combine different social media (i.e. Blogs, Twitter, Facebook, Google+, Youtube, and Instagram) for reaching strategic objectives both. Finally, this section will explore the topic of social listening, and how this practice is important for the development of key strategic objectives in terms of positioning and branding.

Students will also be challenged to use different social media, and digital marketing tools throughout the module in order to combine theory with practice.

This module is designed to provide students with a thorough understanding of leadership and talent in organisations. Moreover, students will learn about methods for assessing leadership potential and talent, along with approaches to enhancing leadership ability and talent. The module will also cover use of technology in leadership development and talent management. By using case material and practical examples, students are introduced to the importance of theory and research-based practice in these fields.

• Understand key concepts relating to international business, describe the key players in international business, and discuss the advantages and disadvantages of globalization 
• Examine the international business environment and the different dimensions (political, legal, technological and cultural) that affect the operations of international businesses
• Understand the international monetary and financial environment
• Examine different strategies for entering in to foreign markets and analyse organizational design, control and structure in international business contexts

The Case Studies lectures set the stage for each week of teaching and encourage student exposure to and interaction with the theory, culture, economics, and emerging technologies of the theory and practices of innovation. The case study format encourages active learning and allows the application of theoretical concepts to be demonstrated, thus bridging the gap between theory and practice. Each week features a different topic so students gain in-depth knowledge of 10 innovation topics through weekly case study demonstration and critical analysis. Each case study features an academic lecture followed by a case study presentation from a top-tier industry guest speaker at the executive level discussing challenges and opportunities related to a realworld implementation of the particular case study topic.

Project Management involves all aspects of defining, designing, delivering, and supporting organisational initiatives and product development. These aspects include planning and controlling for scope, time, cost, quality, HR, communications, risk, procurement, and their integration. It involves all activities from initiating projects to managing, directing, controlling, and closing them. This module will address all of these areas in a rigorous and structured way, using three dominant methodologies currently active in operational environments. It will provide students with an active skillset in project management and prepare them to pursue certification in any of these three methodologies. The curriculum will use lectures, activities, case studies, group work, role-play scenarios, and presentations. Students will be taught in a single lecture environment each week before breaking off into smaller groups for project management tools and software training in labs in five of the weeks.

'The module will provide an overview of the study of material culture within the discipline of anthropology, with a focus on the materiality of heritage, memory and archival practice. Students will engage in conversations about the materialization of the past through both formal and informal archival practice, including institutional archives, policy archives, oral histories, collective remembering, and other forms of memorialization. They will also engage in discussions on absences and silences in the archives and hold conversations about the immaterial archive, for example exploring how experiences of intimacy or sensuality are denied space within professionalized archival practice'.

This module aims to develop both your critical understanding and your practical skill relating to emergent platforms such as social media, crowdsourcing and citizen sensing.

While society comes to rely on these platforms and algorithms for 'truth claims', we will question the way they construct knowledge. We will examine their unnoticed or invisible aspects, and consider how to use them for different purposes. As these socio-technical assemblages always have the potential to harm as well as to help, and we will pay attention to their ethical application.

The emphasis of this module is not on technical proficiency but on the ability to make meaning through the use of different forms of online apparatus. The teaching will combine lectures and practical experimentation.

This module will introduce students to the science of marketing and advertising. It will compare and contrast the old and the new in terms of theory and research, and examine the scientific literature on buyer behaviour and psychology in order to provide the state-of-the-art in the field. It also considers research on the most effective ways of communicating information to consumers – knowledge very much rooted in cognitive psychology and information processing models. It will examine different types of media, present research on the relative effectiveness of each, and identify best practices within each media strategy. The module will cover topics such as: advertising effectiveness, different types of media: online, TV, radio, print, communication strategies and cognitive psychology: Attention and Memory, and the six general principles of influencing. This information will help students understand the complexities and best marketing and advertising practices in creating and growing products, brands, and organisations.

The lectures in this module will be supplemented by several assignments designed to develop and enhance practical skills, and further develop familiarity with consumer psychological methods and theories.

This module will look at the role of technology within the marketing process. On the one hand, the module will explore the psychological, social and cultural responses of consumers to the latest technologies. On the other hand, this module will look at how companies respond to the latest technologies and how they employ them in marketing-related processes.

The module will be conceptually divided into two parts. The first part will be focussed on consumers and how they interact with the newest technologies both in product/service-related innovation contexts and retail environments.

For example, this section of the module will aim at answering questions such as: How do consumers use the Internet of Things? How and why do they use 3D printing? How do consumers interact with Augmented Reality applications within the store? You will unpack the psychological, social and cultural responses related to the newest trends in technology.

The second part will be focussed on how companies deal with cutting-edge innovations, and how they integrate them in their marketing processes. We will look at questions like: How do new products create new markets, and how do companies manage these processes? How can companies create new markets by developing and introducing new technologies? How do technologies such as the Internet of Things impact companies’ approach towards product development, and transform existing markets? How should retailers integrate Augmented Reality applications within their stores? How does the 3D printing changes the production process?

Digital technologies allow for the creation and storage of an unprecedented amount of data. The advent of the Internet of Things will further accelerate the growth of digital data, as more and more devices and physical objects will connect to the internet. The ‘digital universe’ is expected to grow from 4.4 trillion gigabytes today to around 44 trillion gigabytes by 2020. This deluge of data presents an immense opportunity for marketing, yet seizing this opportunity requires specific market research skills.This module will introduce students to the rapidly growing field of data science and will familiarise them with its basic principles and general mindset. Students will learn concepts, techniques, and tools that are used to deal with various facets of large data sets. It is essential to develop a deep understanding of the complex ecosystem of tools and platforms, as well as the communication skills necessary to explain advanced analytics. This course will provide an overview of the wide area of data science and the tools available to analyse large amounts of data. The module will also highlight limitations of big data analytics. Specifically, big data analytics assist in improving and developing existing product portfolios, yet their ability to derive insights that may inform the creation of radical innovations and new markets is limited. Potential approaches to address this limitation will be discussed (e.g., combinations with qualitative/netnographic research methods).

In summary, this module aims to provide students with the skills needed to work in data-driven marketing environments.

This module intends to broaden your knowledge of classical econometric theory and application. The focus will be on issues relating to time series econometrics, and data sets used by macroeconomists in their analysis of aggregate economic performance. You will learn how to econometrically analyse and test key relationships in long standing series of annual or quarterly aggregate data that includes: investment, consumption, output (GDP), interest rates, wages and consumer and producer prices, unemployment and employment indexes.

Topics studied during this module include: modeling time series, volatility and impulse response functions, trend and cycle decomposition, stationarity and non-stationarity in time series data, Cointegration and Error Correction models, breaks in data and missing data, instrumental variables, the identification problem, time series models and autoregressive distributed lags.

Through these topics you will learn how to perform robust data analysis by identifying empirical problems when dealing with times series data.

This module builds on the Econometrics mdoule by extending your knowledge in the field of multivariate analysis. You will gain more detailed knowledge of econometric techniques in the following fields:

• financial econometrics and other high-frequency data sets
• panel data that includes stationary and non-stationary panels
• Vector Autoregressive Models

You will also extend your knowledge of matrix algebra and its applpication and use in different topics.

Throughout this module you will not only extend your knowledge in statistical theory, but also gain practical experience in using appropriate computer packages to run statistical testing. You will enhance you knowledge of Eviews, Stata and other computer software and will also be informed of the practical issues relating to the use and limitations of these computer packages.

This module extends your knowledge in econometric analysis by introducing you to the historical development of the tools that econometricians use, and by engaging you in the methodological and practical limitations that real world statistical analysis of social data faces. The focus of the module is the changing landscape in data collecting and inference by national governments and big organizations from the 1930a until today. You will consider core questions of doing quantitative analysis, such as how much does econometrics explain? What is the right methodology for social statistics? And what questions can and cannot be explained by data inference?

You will investigate three different aspects of the time series econometrics toolbox in depth to give context to the technical training from previous modules. These aspects are:

• A historical survey of the development of econometric techniques from the 1930s until today
• The development, limits and strengths of data collected by national governments for inference and policy analysis
• Open questions in the methodology of data analysis in the social sciences

Furthermore, you will consider how data collecting by national governments and other institutions has changed since the advent of the internet and the big data revolution. This follows naturally the progression of more data that national governments collect and collate since the beginning of the twentieth century, with the main difference being that the scale is now of a new level, and the type of data substantially different to the traditional census, national accounts or industrial production data that national governments habitually collect. New ways in which government organizations (e.g. Central Banks) use this new type of data will be presented and the analytical and methodological challenges of these new types of data will be analysed.

The aim of this module is to introduce students to different paradigms in development economics as well as to practical issues in current development policy. This module builds on insights from the modules Economic History, Intermediate Macroeconomics, Applied Quantitative Economics and International Economics. The general sequence of the module is to start from a discussion of the notion of development, its historical origins and different measurements followed by four weeks of lectures on alternative development paradigms and their context, in particular state planning, structuralism and dependency theory, classical and neoclassical development theory, and institutionalist approaches are considered.

The second half of the module focuses on specific policy issues such as poverty, hunger and agriculture; global inequality; international trade; aid, finance and development banks; climate and environment; education; and the role of big and small businesses. Each week a general overview of these policy issues is presented and followed by an in-depth discussion and analysis of major recent reports or data in the field. Lectures are complemented by seminars which teach the students basic techniques of compiling policy briefs and other relevant forms of policy documents widely used by development agencies.

This module combines resources from three fields of economic theory: macroeconomic analysis, history of economic thought and economic history.

The first seven weeks focus on six episodes in economic history, ending with the current (post 2007) crisis. The writings of different schools of economic thought are used and contrasted in order to see how different theorists understood and analyzed the crises and the types of solutions they offered to solve them. Discourses from outside economics (from psychology or/and sociology or/and anthropology) will also be utilized as competing interpretations that explain different aspects of these crises not captured by economic analysis.

Finally, the last three weeks will focus on the general concept of economic crises, and related concepts of risk and uncertainty, and discuss how these events alter our understanding of the workings of the market economy.

This module compares and contrasts the behaviour of individuals and institutions. It provides a more detailed understanding of the various levels of analysis that you have encountered throughout the degree and provides an applied discussion of the issues surrounding methodological individualism, including the social construction of the individual from different geographical and disciplinary traditions.

The first eight weeks of the module cover four levels: i) the individual; ii) firms and organisations; iii) the state; and iv) the supranational and international level.

The last two weeks are devoted to how individuals and institutions cope with uncertainty. The view of uncertainty as risk is integrated and contrasted with theories of strong and fundamental uncertainty, as well as perspectives from other social sciences.

This module helps you develop key communication and presentation skills, in particular articulating economic ideas to economists and non-economists alike. The module focuses on case studies, which may include anti-trust legislation, macroeconomic reports on the UK, or any other applications of economic analysis.

You will learn to use PowerPoint effectively, present graphs, statistical findings and do background research to prepare for a presentation. Throughout the module, you are encouraged to write letters about economic issues to newspapers and to comment in well-known economics blogs.