|Full time||1 year||May include evening, weekend or day-release sessions and can vary from semester to semester||September 2017|
|Part time||2 years||May include evening, weekend or day-release sessions and can vary from semester to semester||September 2017|
This MA covers a range of economic policy areas; in particular, fiscal and monetary policy, labour market and wage policy, as well as financial regulation and macroprudential policy. It will develop your capacity to carry out research on the implementation and effectiveness of economic policy in a contemporary global and financial context, enabling you to contribute to debates on austerity versus active demand management, and efficiency versus equity in the regulation of markets.
You will study core aspects of macro- and microeconomic theory, applied econometrics and economic policy. On this basis, you will acquire a professional knowledge of procedures used to analyse current issues in economic policy.
You will also explore the economic history of capitalism and the history of economic ideas, placing the issues surrounding the evaluation of economic policy in a historical and intellectual context. In addition, you will pursue intensive study of the contemporary globalised and financialised economy and its relationship to economic development. Finally, you will work with a member of staff to choose an applied economic policy topic for your dissertation, research this topic and write up your conclusions.
Graded problem sets, presentations, practical coursework, essays, examinations, thematic case studies, policy briefs, literature summary, and dissertation.
Please note that this is an indicative list of modules and is not intended as a definitive list.
This first part of the module introduces a range of econometric methods from the perspective of their usefulness in refining and applying economic theory in the context of substantive economic problems. The module aims to develop students’ ability both to understand the analytical basis of these methods and to put them into practice in the context of empirical verification and economic policy decisions.
The second part of the module microeconomic analysis explores the theory of consumer and producer behaviour. It introduces game theory as an important framework for contemporary economic analysis. Students will learn to manipulate theoretical models of microeconomic behaviour and apply them to the analysis of policy issues.
This module develops an historical and analytical narrative of the transformation of economic life from the rise of capitalism and the first and second industrial revolutions to the emergence of the present day globalised and financialised world; it also presents parallel developments in the history of economic ideas. It gives students an opportunity to view the history of the last half millennium through the prism of industrial revolutions and economic crises and examines how, and how well, contemporaneous thinkers such as Adam Smith, Karl Marx, Alfred Marshall and John Maynard Keynes dealt with these dramatic transformations in material life.
Each student completes a separate individual research project under the supervision of a member of staff. Students may propose a title of their own or choose one in agreement with a member of staff. The main purpose of the project is to enable students to demonstrate knowledge of how economic ideas can be applied in greater length and depth than is feasible in the context of a taught course. Upon completion of the individual research project each student will have designed and implemented a research project in applied or theoretical economics, normally including a critical literature survey and the evaluation of evidence (as appropriate to the project title). A workshop and supervisory meetings are provided to help students in their choice of title and to ensure progression of research.
EC 7011 provides opportunities for students to develop academic and professional working skills. The module contributes to key professional working and employability skills e.g. working to deadlines; originality; writing coherently and analytically.
The module pursues an advanced analysis of the processes of globalisation and financialisation of contemporary capitalism and uses it as basis for discussion of economic policy.
It will explore the dramatic changes and shifts in financial innovation, revisiting the economic developments that followed the disintegration of the Bretton Woods regime and analyzing their role in contemporary post-industrial capitalist societies. The module will also consider the character of economic and monetary policy in this new institutional landscape. It will discuss the implications of global finance for households, non-financial firms and sovereign governments. It will also deal with financial instability and set the basis for discussion and assessment of different forms of monetary policy and proposals for financial regulation.
The historical evolution of globalisation will also be traced in relation to international trade and investment. Different approaches will be introduced to evaluate and interpret these economic trends. The organisation of work and production in the global economy and its impact on labour and employment will also be discussed. The contribution of global and corporate governance to the current level of global integration will be assessed in the context of international trade, foreign direct investment and development issues.
This module introduces students to macroeconomic theory and policy at an advanced level. The module first deals with the fundamental issues of demand, growth, unemployment and inflation in the context of classical and Keynesian approaches to understanding aggregate economic behaviour. The module then discusses selected issues in current economic policy and illustrates how different economic theories approach these issues, how economic models are applied to current problems and how different theories lend themselves to different policy conclusions. The topics covered will differ each semester but may well include issues such as unemployment, financial stability and the causes and effects of changes in income distribution.
You will have the opportunity to study a foreign language, free of charge, during your time at the University as part of the Kingston Language Scheme. Options currently include: Arabic, French, German, Italian, Japanese, Mandarin, Portuguese, Russian and Spanish.