Economics with German BA

You will undertake an extended piece of investigative and synthesising work on a subject of particular interest and produce a final written dissertation of 8000 words.

This will:

• provide practice in researching a topic independently and in depth
• involve use of a range of primary and/or secondary information sources
• create coherent and sustained analysis and argument in both writing and speech.

This advanced module will be your final step towards fluency. We'll continue to improve your four key language skills of reading, listening, writing and speaking through class discussions and the use of relevant texts such as complex newspaper articles, detailed radio and TV programmes and increasingly sophisticated fiction.

You'll also study translation and work towards professional standards giving you a solid grounding for a career or further studies in translation.

This module adopts a broad focus on factors influencing growth and development, concentrating on core economic policy areas and the role of international organisations.

Topics covered include macroeconomic policies, in particular exchange rates and the role of the IMF; aid policy and the World Bank, effects of aid on growth, macroeconomic and fiscal policy, and poverty; trade policy and performance and the WTO; economic reforms and growth experiences in East Asia, China and Africa; human development and the UN Sustainable Development Goals.

This module generalises and builds upon the material covered in the Econometric Theory I and II. In the first part of the module, we study large sample, or asymptotic, theory. This is needed in order to obtain tractable results about the behaviour of estimators and tests when the standard modelling assumptions - which frequently cannot be verified in practice - are relaxed.

The second part of the module continues the time series analysis taken in Econometric Theory II, with the emphasis on the behaviour of typical economic time series, and the implications of that behaviour in practical analysis, such as the construction of models linking economic time series. The key issues addressed will be the identification of non-stationarity through the construction of formal tests and the implications for modelling with non-stationary data.

Particular attention will be paid to the contributions of Sir Clive Granger to the spurious regression problem and to cointegration analysis, for which he was ultimately awarded the Nobel Prize.

This module discusses aspects of some of the main sub-areas of experimental and behavioural economics. This includes applications related to individual decision-making, strategic behaviour and market behaviour.

The module encourages reflection on both the role of experiments in economics and the assumptions that economics does (and should) make about people’s motivations. Both experimental economics and behavioural economics are still comparatively new fields within the wider discipline.

The module considers their potential and main achievements, relative to more traditional economic techniques. It encourages development of critical skills and reflection on specific research contributions in experimental and behavioural economics.

This module covers:

• saving, focusing on how agents make intertemporal decisions about their savings and wealth accumulation
• saving puzzles and household portfolios, focusing on credit markets and credit markets' imperfections, and why do households hold different kinds of assets
• asset allocation and asset pricing, focusing on intertemporal portfolio selection, asset pricing and the equity premium puzzle
• bond markets and fixed income securities
• the term structure of interest rates
• the role of behavioural finance in explaining stock market puzzles

This module provides an advanced economic analysis of the theory of organisation of firms and industries. It will analyse a variety of market structures related to the degree of market competition with a special emphasis on imperfectly competitive markets. It will also analyse issues related to the internal organisation of firms.

This module looks at:

• trade policy
• economic policy for trade and international factor mobility
• theory and evidence
• trade policy and imperfect competition
• trade and distortions
• the political economy of protection
• trade policy reform

This module covers:

• models of intra-industry trade
• trade policy in oligopolistic industries
• multinational enterprises
• testing trade theories
• the WTO and "new issues"

This module covers an economic analysis of the labour market, with an emphasis on policy implications and institutional arrangements.

This module covers:

• dynamic general equilibrium models, focusing on how the time path of consumption, and saving, is determined by optimising agents and firms that interact on competitive markets
• growth in dynamic general equilibrium, focusing on the Solow model and the data, and the role played by accumulation of knowledge (endogenous innovation) in explaining long run growth
• Real Business Cycles (RBC), focusing on how the RBC approach accounts for business cycle fluctuations, and what links short run fluctuations and growth processes

This module is intended to provide an introduction to mathematical techniques used in economics. In particular, examples of economic issues that can be analysed using mathematical models will be discussed in detail.

Particular attention will be given to providing an intuitive understanding of the logic behind the formal results presented.

This module will cover topics in advanced microeconomics and decision theory. The precise content may vary from year to year, but the module will start from the basis established by the Microeconomic Theory module.

This module provides a rigorous introduction to formal models of money in the macroeconomy. Following this, applications for areas of central banking, finance and international macroeconomics will be explored.

This module covers: 

• Foundations:
  • The rational political individual?
  • Voter participation
  • Collective action and the role of the state
• Core Political Economy:
  • The economic approach to politics
  • Political aspects of economics: rights and the limits of the state
  • Political aspects of economics: inequality and the duties of the state
• Political Economy in Action:
  • Political economy in action: some current issues in political economy

The module will introduce some major themes of the economic analysis of government. Using the tools of modern microeconomic theory, it will explore how government institutions are designed, how they could be designed better, and how they shape economic policy. 

This module will introduce you to economic policy analysis. It will focus on the role played by different institutional rules in shaping the behaviour of elected governments by providing incentives to elected governments.

This module will introduce students to economic policy analysis, using examples from environmental economics and international trade.  The first part of the module is about climate change. We first examine the practice of discounting future outcomes. We will look at the evidence for climate change in the past and predictions for future damage. Combining this with information about abatement options and costs, we can devise a globally optimal policy path, depending on the discount rate. Finally, we will trace actual climate change negotiations, evaluate climate change policy and examine why it is so difficult for countries to agree on greenhouse gas emission reductions. 

The second part of the module will focus on the issues around and methods for policy evaluation. We also draw some lessons for policy prescription/design. There is an increasing consensus as to the appropriate methods for evaluation but the topic of policy prescription remains contentious. It considers the main empirical methods of policy evaluation and the fundamental question of evaluation studies (what would have happened if the policy had not been undertaken). It discusses trade liberalization and exporting firms. This allows us to think about aggregate outcomes for policy change using evidence from microdata. It considers the question of whether there is systematic, reliable evidence that government policies stimulate growth in the long run and if so what those policies are. This topic is used to explore the issue of policy prescription.

Heimat, a political and psychological concept of rural rootedness, is at the core of German identity, and the Heimat genre has been ever-present in the German cinema since the days of the silent cinema. This module will explore the cultural and historical contexts of the concept of Heimat through the study of Heimat films from different historical moments. We will explore the artistically ambitious and politically controversial 1920s/30s mountain films; the immensely popular Heimat films of the 1950s; the aesthetically challenging and critical anti-Heimat films of the 1960s/70s; Edgar Reitz’s landmark historical saga of the 1980s; and post-1990s reinventions of the genre. We shall ask why film-makers in Germany and Austria keep returning to this genre. In addition we shall consider the question of the alien within the Heimat, the gendering of Heimat and the representation of nature and modernity in these films.

This module will provide an introduction to international monetary issues, including the determination of exchange rates and international spill-over effects. 

This module focuses on a range of econometric methods used in policy evaluation and in the identification and estimation of causal effects. Topics to be covered include:

• potential outcomes framework
• regression analysis and matching
• instrumental variables
• difference-in-differences
• regression discontinuity

Literature uses ancient mythology as a rich source to describe powerful emotions, cunning politics or psychological drama. This module will explore how selected German writers engage with the myth of Medea, the powerful wife of Jason, who - according to the Classical myth - kills the sons she loves to hurt Jason.

We will look at how the myth is used, changed and reinvented in texts written between 1926 and 1998. We will consider theoretical writings on mythology and also look at the the Medea myth in paintings, film, theatre and music.

This module covers the following:

Static numerical methods

• Numerical solution methods
• Numerical static optimisation methods
• Applications: resource allocation, computable general equilibrium

Dynamic numerical optimisation

• Discrete dynamic programming
• Implementation of the methods
• Applications: optimal growth, rational expectations, asset management

Agent-based economic modelling

• Foundations of agent-based modelling
• Basics of computer programming
• Applications: evolutionary games, markets   

This module looks at how German-language theatre has responded to the challenge of new forms of media. We will draw on theoretical writings on the theatre and will reflect on such issues as agency and identity, the nature of historical material, the status of the audience and the challenge of new technologies. We will read five formally innovative plays from 1927 to 2000 - one called ‘Offending the Audience’, another in which 10,000 feet of film footage were used in the premiere, one a harrowing portrayal of the events of Holocaust, and one a reality TV-style live soap opera, put on over seven weeks in its premiere.

This module will examine historical, political and philosophical approaches to the concept of national identity between divided and post-unification Germany, concentrating on the changing relationships between the articulation of conventional patriotism and self-critical reflection on National Socialism.

This module investigates resistance and opposition in the GDR. It looks at developments during particular time periods:

• 1945-49
• 1953-68
• 1970-80
• 1980-89

The three main areas of investigation are:

• political resistance and alternative ideas within the SED-party ranks and the institution of the Church in the early years
• the role of intellectual dissidents and their ideas surrounding reform of GDR socialism
• the formation of organised oppositional groups and their intellectual basis in the 1980s