Advanced Economic Analysis
This information is for the 2021/22 session.
Dr L. Rachel Ngai 32L 1.15
Dr Thomas Sampson 32L 2.34
This course is available on the BSc in Econometrics and Mathematical Economics, BSc in Economics, BSc in Economics and Economic History, BSc in Economics with Economic History, BSc in Government and Economics, BSc in International Social and Public Policy and Economics, BSc in Mathematics and Economics, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics, BSc in Politics and Economics and BSc in Social Policy and Economics. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.
Students should have completed both Macroeconomic Principles (EC210) and either Microeconomic Principles I (EC201) or Microeconomic Principles II (EC202). The capacity to read and understand applied research methods as covered in EC220/EC221 is highly desirable.
Students who have thoroughly mastered mathematics to the level of MA107 should be able to follow the course but would find it difficult. MA100 would give a better grounding. Microeconomic Principles II (EC202) is also accepted (in place of EC201).
This course is divided into two sections introducing recent developments in economic theory and policy analysis. The first half of the course covers economic policy in the global economy. We study the causes and consequences of international economic integration, focusing on how globalisation affects the trade-offs that shape policy. Both theoretical and empirical analyses will be considered. Key topics include: international trade, capital flows, migration, technology diffusion, taxation in the global economy, and the relationship between globalisation and national sovereignty.
In the second half of the course we focus on economic growth, considering questions like these: Why was GDP per capita in the UK 15 times higher than China in 1960? Why did the factor of 15 decrease to 5 in 2000? To gain an understanding of the “whys” we have to ask deeper questions: what drives economic growth? Why do some economies grow faster and other slower? Thus this part of the course studies the determinants of economic growth through capital accumulation, reallocation of resources from agriculture into manufacturing and services and, technology innovation.
15 hours of lectures and 10 hours of classes in the MT. 15 hours of lectures and 10 hours of classes in the LT.
This course is delivered through a combination of classes and lectures totalling a minimum of 50 hours across Michaelmas Term and Lent Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos.
Students will submit, and receive feedback on, two problem sets per term.
The course is mainly based on lecture notes and journal articles. As an example of the level and content of the reading in economics articles, students may wish to look at the following:
Rodrik, D. 2011. “The Globalization Paradox". Oxford University Press.
Harrison, A. and Scorse, J. 2010. “Multinationals and Anti-Sweatshop Activism” American Economic Review 100(1): 247-273.
Ngai, L. R. 2004. “Barriers and the Transition to Modern Growth “. Journal of Monetary Economics 51:1353-1383.
A good textbook reference for economic growth is:
Jones, C. and D. Vollrath (2013), Introduction to Economic Growth. W. W. Norton & Co.
Exam (100%, duration: 3 hours, reading time: 15 minutes) in the summer exam period.
Course selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Important information in response to COVID-19
Please note that during 2021/22 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Total students 2020/21: 82
Average class size 2020/21: 21
Capped 2020/21: No
Value: One Unit
Personal development skills
- Problem solving
- Application of numeracy skills