EC301     
Advanced Economic Analysis

This information is for the 2022/23 session.

Teacher responsible

Dr Thomas Sampson  32L 2.34

Dr L. Rachel Ngai  32L 1.15

 

Availability

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 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.

Pre-requisites

Students must have completed level 2 microeconomics (EC201 or EC202 or EC2A1 or EC2A3) and macroeconomics (EC210 or EC2B1 or EC2B3 or FM201). The capacity to read and understand applied research methods as covered in EC220 or EC221 or EC2C1 or EC2C3 and EC2C4 is highly desirable. 

Students who have thoroughly mastered mathematics at least to the level of MA107, with MA100 giving a better grounding. 

Course content

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.

Teaching

15 hours of lectures and 10 hours of classes in the MT. 15 hours of lectures and 9 hours of classes in the LT. 1 hour of classes in the ST.

There will be a reading week in Week 6 of LT (no lectures or classes that week).

This course is delivered through a combination of classes and lectures totalling a minimum of 50 hours across Michaelmas Term and Lent Term.  

Formative coursework

Students will submit, and receive feedback on, two problem sets per term.

Indicative reading

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.

Hall, R. and C. Jones. 1999. Why do Some Countries Produce So Much More Output per Worker than Others?”

Quarterly Journal of Economics, 114: 83-116



Jones, C. and D. Vollrath (2013), Introduction to Economic Growth. W. W. Norton & Co. 

Assessment

Exam (100%, duration: 3 hours, reading time: 15 minutes) in the summer exam period.

Key facts

Department: Economics

Total students 2021/22: 70

Average class size 2021/22: 18

Capped 2021/22: No

Lecture capture used 2021/22: Yes (MT & LT)

Value: One Unit

Guidelines for interpreting course guide information

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.

Personal development skills

  • Self-management
  • Problem solving
  • Application of numeracy skills