If you do not have a very strong technical background – multi-variate calculus, ease in handling differential equations, linear algebra, statistics, probability theory – you may find yourself struggling with most 300 level Economics courses at LSE. There are several options available both within the Economics Department and outside it. All of these will assume knowledge of, and familiarity with, basic economic ideas that would be covered in introductory level econ courses (equivalent to the LSE course EC102)
‘Non-technical’ courses in the Economics Department
There are a couple of options within the Economics Department:
EC230 Economics in Public Policy
• This is the economics course that many General Course students take as it doesn’t have a demanding quantitative element to it. It develops economic analysis for large questions in contemporary public policy without the need for knowledge of calculus.
• There is no set textbook for the course.
• This is by far the most popular econ course for General Course students.
EC303 Economic Policy Analysis
• This course focuses on economic policy issues (impact of globalisation; world trade issues; monetary and financial issues; the Eurozone crisis).
• There is no set textbook for this course but Krugman and Obstfeld’s International Economics: Theory and Policy provides useful overall coverage.
• While less technically demanding than many of the 300 level courses, it still has a considerable technical component and General Course students will still need a solid background in multivariate calculus.
EC311 History of Economics: How Theories Change
• A history of ideas and theory course, but one in which you will read primary texts rather than secondary commentary on such texts. Those General Course students who have taken it really liked it as it puts a lot of what they were ‘doing’ in the context of wider debates about ideas.
• NOTE: The course is “capped” and you will need to get permission from the staff
teaching the course once you are here. However, most General Course students wishing to take the course are able to do so
• An alternative to this course is the half-unit course IR354 Governing International Political Economy (see below for details).
‘Non-technical economics’ courses outside the Economics Department
Outside the Economics Department, there are a number ‘economics’ related courses that in US universities would probably be in an economics department. What they are lacking is an EC course code, which can sometimes make them a more difficult ‘sell’ to your academic and study abroad advisors.
Courses which General Course students have regularly taken, enjoyed and done well in that you may wish to consider are:
PH211 Philosophy of Economics
• Covers a range of philosophical issues in economics. Topics covered include: rational choice theory; game theory; social choice theory; Pareto optimality, interpersonal comparability and theories of well-being; fairness vs equity; public goods vs merit goods, and GDP vs happiness vs capabilities.
• Often taken by either 2nd year or 3rd year BSc Economics students.
GY201 Urban and Spatial Economic Analysis
• A course covering theoretical and empirical understanding of spatial economic processes and how these influence the behaviour of firms, households and the wider economy.
• Can be taken by 3rd year BSc Economics students as an optional course.
GY222 Applied Environmental Economics
• Examines the use of economic principles in the analysis of environmental change and natural resource use and the design of policy responses.
• Makes use of cost-benefit analysis which is not covered in any of the EC courses.
• Can be taken by 3rd year BSc Economics students as an optional course.
GV227 Politics of Economic Policy
• The course uses political science methods to examine changes in public policy with a focus on economic policy, covering topics such as privatisation, varieties of capitalism, regulatory reform and supranational regulation of markets.
Economic History courses:
• Historically within the UK, economic history has been taught and researched outside of departments of economics. This is not the case in the US and almost all the courses taught in the Economic History Department at LSE would be located in an economics department at a US university.
• Note: these are not traditional history courses but treat historical topics from an economics perspective.
• LSE BSc Economics students are allowed to take EH courses as optional courses on their degree.
IR204 Politics of International Economic Relations (H)
• This half unit course examines the relationship between international politics and the international economy. Topics covered include: economic nationalism, laissez faire, Marxism and comparative political economy; debates on domestic trade preferences, environmental protection, preferential trade agreements, capital market integration, and globalisation.
• Includes 10 introductory lectures on international economics to ensure everyone taking the course has the same basic grasp of economic theories.
• It is a prerequisite for the IR300 level IPE half units listed below.
IR347 Political Economy of International Labour Migration (H)
• This half unit course employs a political economy perspective to study the historical evolution of migration policy, the relationship between trade and migration, and the political causes and consequences of migration flows.
• It pays close attention to remittances, discussing their impact on political outcomes as diverse as democratisation, the survival of dictatorships, political clientelism, corruption, political participation, and political accountability.
• NOTE: The course is “capped”
IR354 Governing International Political Economy: Lessons from the Past for the Future (H)
• This half unit course asks: Who governs the global economy? How do they do so? And to what ends do they govern it? This course examines these questions by examining the canonical theories of—and state approaches to—the challenges of global economic governance across the last several centuries, the relationship between international politics and the international economy.
• Topics covered include: mercantilism, the age of empires, socialist political economy, inter-war liberal IPE, Keynes and the post-war international economic order, the evolution of the global trade and monetary regimes, globalisation and neo-liberalism.
• The course is assessed through an assessed essay rather than end of year exam.
• NOTE: The course is “capped”
IR355 Economic Diplomacy (H)
• This half unit course introduces students to the theories and analytical frameworks relating to decision-making and negotiation in international economic relations
• It discusses the roles of the main actors, institutional settings and processes involved in domestic decision-making and international economic negotiations, and their interaction with each other.
• The course includes a simulation exercise.
• The assessment is a mix of an assessed essay (30%) and an end of year exam (70%)
• NOTE: The course is “capped”
IR367 International Political Economy of the Environment (H)
• This half unit course introduces students to concepts and issues in the study of international environmental politics, with special emphasis on the political economy of environmental protection.
• Among the topics that will be covered are: environmentalism and the greening of international society; ecological perspectives on international political economy; domestic sources of environmental diplomacy; environmental leadership in international negotiations; international environmental regimes and their effectiveness; the role of non-state actors (business, NGOs, scientists); corporate environmentalism; private environmental governance; trade and environment; international environmental aid; greening foreign direct investment; climate change; ozone layer depletion; biosafety regulation; deforestation
• NOTE: The course is “capped”
IR368 The Political Economy of Trade (H)
• This half unit course focuses on explanations of trade policy choices as the result of political and economic factors.
• Topics covered include: key models in the economics of international trade, including the New Trade Theory; protectionism and trade liberalisation; international regimes (e.g. the WTO and preferential trade agreements); the effect of trade liberalisation in developing economies; the relationship between trade, foreign direct investment, and the activities of multinational companies; the links between international trade and monetary policy during periods of crises.
• NOTE: The course is “capped”
IR369 The Politics of Money in the World Economy (H)
• This half unit is a course in applied international political economy theory. It deals with the basic concepts regarding the creation, use and management of money and finance in the global system.
• Topics covered include: political foundations of international monetary governance; the use of national currencies as international money; the politics of exchange rate adjustment; the operations of banks and other institutions in international money and capital markets; the evolution of global financial markets; the relationship between states and markets in the arena of global finance; international monetary cooperation, and the choices of monetary and financial policies open to developed and developing countries.
• NOTE: The course is “capped”
SA104 Social Economics and Policy
• Uses economic principles to understand different social policy areas and how governments and markets may fail in dealing with them. Topics covered include: poverty and inequality; healthcare; education; social care and housing; wages policies; role of trade unions, and income redistribution
• A good course for students who have only had an introductory course in economics.
SA221 Poverty, Social Exclusion and Social Change
• Examines debates surrounding the causes of poverty and social exclusion. Topics covered include: impact of demographic change; gender and racial inequality; homelessness and housing derivation; unemployment; educational inequality and crime and social exclusion.
• NOTE: The course is “capped”
Updated July 2016