Introductory description

The module examines problems of international economic coordination and policy and macro and micro problems of British and international economics and policymaking.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

In no set order, topics have included: theories of the policy making process, theory and empirics of market failure; public choice theories; issues of international political economy and globalisation; bureaucracy and the “core” executive in Britain; the development of governments’ economic policies in recent decades, including the economics and politics of inflation, unemployment, and migration, the welfare state and economic performance, income distribution, corruption, public finance, and regional and global governance.

Learning outcomes

By the end of the module, students should be able to:

• :... have an understanding of the differences and complementarities in economic and political modes of analysis; develop a critical understanding of debates about the impacts of policies and policies on economic performance; assess the impact of globalisation on the autonomy of national economic policy and acquire knowledge and analytical skills relevant to careers in government, the media, the financial services sector, business associations and industry

Indicative reading list

Torsten Persson and Guido Tabellini. Political Economics: Explaining Economic Policy, The MIT Press, 2000.
Tim Besley. Principled Agents: Selection and Incentives in Politics, Oxford University Press, 2006.
Tim Besley and Torsten Persson. Pillars of Prosperity, Princeton University Press, 2011.

Subject specific skills

Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Creative thinking
Strategic thinking
Problem-solving
Abstraction
Policy evaluation
Analysis of incentives
Analysis of Institutions
Understanding of Uncertainty and Incomplete Information

Transferable skills

Students will have the opportunity to develop:
Research skills
Data-based skills
IT skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills