This module introduces the core concepts and methods of econometric analysis and their applications in economics. It examines different types of economic data and how to handle them, the specification of econometric models, and their estimation and testing, with a focus on the classical linear regression model.

We will take an intuitive and practical approach, emphasising the application of econometric techniques to real-world data as well as the interpretation and evaluation of the results, and the ways in which they can be used to inform business and policy decisions.

An important part of the module is training in the use of specialised econometrics software. There will also be a segment dedicated to experiential learning, allowing you to gain practical experience while working with an employer.

Explore how real-world phenomena can be understood using macroeconomic models. This module will help you understand macroeconomic data and examine the implications of economic policies in both closed and open economies.

By the end of the module, you will be able to interpret macroeconomic events and tackle macroeconomic questions using the concepts and methods presented in lectures and tutorials. We will focus on major issues related to economic growth, the causes of economic fluctuations, and the effectiveness of economic policy.

You will be introduced to key concepts from microeconomic theory and their application to consumer and firm decision-making. We begin with an overview of how firms make decisions under different market structures, different pricing structures, along with the welfare implications of these choices. Next, you will learn how consumers make decisions and how they respond to price changes.

Our focus then shifts to strategic behaviour, incorporating a game-theoretic approach. We will also cover the significance of hidden information and hidden action. Additionally, we will discuss issues related to the modern business organisation, such as various models of auctions.

Finally, you will cover topics such as externalities, public goods, rent-seeking behaviour, and related policies.

This module teaches you how to interpret, analyse, and present economic data effectively. It covers key concepts in data visualisation, statistical analysis, and economic theory. You will learn to use software tools to manage datasets, create informative charts, and perform data analysis. The focus is on clearly and concisely communicating findings to both technical and non-technical audiences. By the end of the module, you will be proficient in transforming complex data into actionable insights and compelling narratives.

This module aims to expand your knowledge on the topic of inequality and its relationship with the macroeconomy. It will introduce you to the measurement and analysis of inequality data, along with the underlying theory. The module also gives a brief overview of potential policy solutions to these issues.

The topics covered include:

• skill accumulation
• discrimination
• luck
• mobility
• wealth accumulation
• the role of bequests

The goal is to stimulate critical thinking by applying theoretical concepts to real-world examples and data.

You will be introduced to the key concepts, tools, and methods in environmental economics, along with several key policy applications of these topics. This module will equip you with the skills to analyse pressing environmental issues and explore potential solutions in terms of choices, trade-offs, and scarcity.

The topics covered include:

• property rights and externalities
• benefit-cost analysis
• pollution control
• climate change
• dynamic efficiency and sustainability
• resource depletion
• ecosystem services
• management of natural resources such a fisheries

This module is designed to enhance your strategic thinking skills. You will learn how to use games to model real-world strategic situations, and how to analyse and solve these games in scenarios where players are intelligent and rational.

The module covers:

• normal form games
• extensive form games
• Bayesian games
• games with correlation devices
• repetitive games
• behavioural games

Additionally, you will have opportunities to play these games with your instructor and classmates. A basic understanding of algebra, calculus and economics is necessary for this module.

Boost your CV by gaining international experience and earn credits towards your degree. You study abroad at a summer school at a partner university between your first and second year.

You will gain subject-specific business knowledge and experience studying in a different country and culture. You can choose from a wide selection of partner universities based on where you want to study and the subjects offered.

Some of your assessment will take place at the partner university. You will also write a reflective essay after you return to help you articulate what you have learnt during your time abroad. This will help you to link your experiences to employability for future interviews.

To complete your experience, you will participate in an online project during the semester, working with an international team of students. This project will help you develop a global mindset and build your communication skills as you work in a cross-cultural team, participating in a business game where you will complete challenges related to the global Sustainable Development Goals.

From financial meltdowns to rising inequalities, from environmental breakdown to the looming automation revolution, global capitalism appears to be in a state of permanent uncertainty. Studying the global economy has never been more urgent.

In this module we’ll ask:

• Are states at the mercy of global corporations?
• Can capitalism survive the climate crisis?
• Is Western economic dominance coming to an end?

You will explore the historical evolution, major transformations and possible futures of global capitalism, drawing on the insights of its defenders and its critics. Crucially, the module casts light on the unequal power relations structuring the global economy and the ways existing patterns of trade and production impact development opportunities in the Global South.

Through both theoretical engagement with competing political economy perspectives and the study of real-world developments, you will learn to analyse the social challenges posed by the evolution of global capitalism and assess the limits of contemporary economic governance.

In this examination of the evolving landscape of global power, we identify the forces challenging the world’s leading nations and explore the fluid nature of influence in the 21st century.

We will analyse the shifting balance of power, explore the relative decline of traditional superpowers and the simultaneous rise of new actors on the global stage.

You’ll be encouraged to consider how economic, military, and cultural influence is being reconfigured in a multipolar world, reshaping traditional understandings of world order. Crucially, we will also analyse the internal and external pressures these powers face, form rising regional actors, to the evolving nature of global threats, and the erosion of traditional power structures.

Through different case studies and theoretical frameworks, you will gain a nuanced understanding of the complex interplay between rising and established powers and the implications for global stability and future orders.

Public policy defines our lives. It determines who gets what, when and how. This module gets to the heart of the power relations of policymaking by applying a critical lens to understanding policy.

You will examine how ideas, interests and institutions shape policy, and who wins and who loses from its formulation. We’ll explore critical theories such as feminism, decolonisation, Marxism and anti-racism, to understand the power dynamics in public policy.

We’ll touch on the key questions such as:

• Who decides what is a policy problem?
• Who bears the burdens or benefits of policy?
• Is evidence-based policy achievable?

By the end of this module, you will be able to apply critical thinking skills to analyse local and global challenges such as social inequalities and the climate crisis.

This module offers a critical introduction to the complex political landscapes of regions in the Global South, exploring how historical, economic and social forces have shaped contemporary states and societies.

You will examine colonial legacies and their lasting influence on political institutions, and the impact of external interventions on regions. The module also investigates the consequences of neoliberal economic reforms, the challenges faced during democratization processes, narratives of ‘development,’ and the dynamics of armed conflict and peacebuilding.

Consideration is given to grassroots activism as well as the role of regional integration and cooperation in shaping political and economic outcomes. Through these themes, you will develop a sophisticated understanding of power, resistance and development in the Global South.

This module is designed to promote independent learning and allow you to apply the knowledge and skills from your degree to understand and analyse contemporary policy issues. You will be able to independently produce both written and verbal reports on current policy topics that are accessible to policymakers and senior managers in both the private and public sectors. The content of this module will focus on contemporary issues. In the past, topics have included:

• Is government debt a burden for future generations? What is the value of a degree?
• How are interest rates set? Business support during the pandemic: Essential support or fraud?
• How should we pay for social care? How can we help the long-term unemployed?
• What has been the impact of Brexit and Covid-19 on international trade?

This module will introduce you to the field of behavioural and experimental economics. It will equip you with the necessary skills to study how the standard rationality assumptions can be relaxed to account for psychological and cognitive biases as well as social preferences. Additionally, you will be introduced to the tool of experimentation in economics as a means of collecting data to test the various economic theories.

Some of the topics covered will include:

• behavioural finance
• rational emotions
• nudging
• choice under risk
• time preferences
• social preferences
• behavioural game theory

Data science is transforming the role of information technology in society and in many sectors in which economists work. Machine learning and big data methods have gained popularity as tools in academic, government, industry, and beyond.

You will be introduced to big data and machine learning techniques with a focus on economic applications. These techniques are already significantly impacting the field of economics for modelling economic relationship, drawing causal inferences, and making predictions. They will soon become a standard toolbox for economists.

The emergence, consolidation and transformation of world capitalism has been marked by its uneven character in terms of development, and the unsustainable exploitation of natural resources. This module aims to provide you with a theoretical foundation for the study of international development and the environment, by focusing on the structural roots of current challenges. We will focus in particular on global inequalities and environmental injustice.

Drawing on mainstream and critical development studies, international political economy and discourse analysis, the module examines the interconnections between uneven development and the deterioration of the natural environment. You will examine dominant ideas of economic growth, progress and sustainability.

Key concepts and theories will be discussed alongside specific examples from the Global South. Typically, topics will include the global debt crisis, green discourses, climate inequalities, and the commodification of nature under neoliberalism.

This module builds on the foundations of monetary and fiscal policy analysis by placing policy decisions in a global context. The first part of the module emphasises the interpretation and analysis of macroeconomic data. You will learn how to apply empirical methods to understand fluctuations in output, employment, inflation, and trade balances.

The second part focuses on the design and coordination of monetary and fiscal policy in an interconnected world. Special attention will be given to the challenges that central banks and governments face in managing global shocks. The topics covered will include international policy spillovers, exchange rate regimes, capital flows, and the evolving role of institutions such as the IMF and the Bank of England. We will explore real-world applications and current policy debates throughout the module.

This module tackles issues in economic growth and development, with reference to key concepts, theory and empirics. In the first half of the module, we will take a macroeconomic perspective on the key growth challenges facing developing countries. This will include competing theories of growth, industrialisation, institutions and trade policy.

In the second half, the module shifts to several microeconomic topics that examine the behaviours of households and individuals. Key issues covered will include poverty, inequality and anti-poverty policies, education, health, microfinance and credit markets, and risk and insurance.

This module provides a comprehensive exploration of international trade and global business dynamics, connecting theoretical models with practical policy implications. You will examine core trade theories including the Ricardian model, Heckscher-Ohlin model, and heterogeneous firm models. The module also offers in-depth analyses of international factor mobility, trade policies, and globalisation trends.

On the international business side, you will study key topics such as global value chains, multinational firm strategies, international competitive advantage, and the economic impacts of outsourcing and offshoring. The module focuses on real-world applications, exploring how theoretical frameworks inform understanding of contemporary economic phenomena, including labour productivity, attitudes towards trade, the effects of immigration, and the evolving landscape of global economic interactions.

This module offers a comprehensive exploration of labour and health economics, examining critical microeconomic dimensions of human capital and market dynamics. You will analyse labour market fundamentals including supply, demand, market policies, and workforce challenges such as unemployment, migration, and discrimination. The curriculum extends to education economics and personnel economics, investigating principal-agent problems and incentive structures within organisations. In addition, the module provides economic tools to critically examine healthcare systems, with a focus on the UK National Health Service and international healthcare models, emphasising empirical evidence and microeconomic analysis.

Public policy analysis is the study of government’s role in the economy. It involves examining both its normative and positive aspects. To gain a comprehensive understanding, we look at a combination of theories, empirical findings, and real-world examples.

We begin by focusing on public goods such as water, transportation, and other infrastructure that the government can provide directly or in collaboration with the private sector. This includes looking at the practice of regulators, as well as cost-benefit analysis. We evaluate the trade-off between efficiency and fairness, then examine state financing, including theories of optimal taxation and recent research on tax evasion and avoidance. Finally, we delve into the internal structure of government, exploring political economy and fiscal federalism.

Why do we see gaps between what politicians say on immigration and what they do?

In the United Kingdom and in most of the Global North the movement of people across international borders is a key political issue of our time. The public, researchers and politicians across the political spectrum participate in passionate debates about immigration. Political parties make strong claims about how they would “manage” or “cut” migration, recognising that it is a key voting issue.

Meanwhile, the systematic study of human movement supplies us with robust evidence concerning such questions as:

• Is migration desirable or not?
• How should we understand its effects on origin and destination countries?
• How to address it in policy terms?
• Is migration a matter of human rights?
• Can border control be reconciled with respect for the rights of people on the move?

The module draws on cutting edge research in political science, international relations and similar fields. It equips you with fact-based evidence so that you can confidently participate in the ongoing societal debate on what it means to inhabit a world on the move.