Economics with German BA

This is an introductory module in microeconomics and macroeconomics; there is no assumption of any prior knowledge of economics.

The first semester considers microeconomics. It begins by analysing how the economic choices of households and firms can be understood using consumer and producer theory. It then looks at how these individual choices are aggregated into market demand and supply to be mediated through the price mechanism. A variety of market settings are considered, ranging from the paradigm of perfect competition to the analysis of monopolistic firms. The module continues by providing an introduction to the normative evaluation of economic outcomes and market failures.

The second semester considers macroeconomics - the study of the aggregate economy. This part will focus on the determinants of aggregate output, both in the short run - addressing cyclical movements of booms and busts - and in the long run - providing an introduction to economic growth. A running theme will be debates over the role of the government in macroeconomic management, covering fiscal and monetary policy. The module will introduce a series of basic models used in modern macroeconomics.

The first semester provides an introduction to microeconomics, including behaviour of firms and households in situations of competitive and imperfectly competitive markets. The second semester provides an introduction to macroeconomics.

Macroeconomics is the study of the aggregate economy, focusing on the cyclical pattern of aggregate output and co-movement of real and monetary aggregates in general equilibrium. A series of basic models used in modern macroeconomics are introduced, with a particular focus on dynamic general equilibrium modeling tools and techniques necessary to build theoretical models.

How does economics impact on politicians? And how do politicians impact on economics? You will study both contemporary economics and the political leaders who have put key economic theories into practice throughout history.

This module covers the following topics:

• The scope and method of economics
• Alexander Hamilton and the role of state in the economy
• Sir Robert Peel and Free Trade
• The Meiji Emperor and Industrialisation
• Franklin D Roosevelt and Demand Management
• Ludwig Erhard and Supply Side Economics
• Margaret Thatcher and Monetarism and Rolling Back the State
• Deng Xiaoping and Growth, Development and Convergence

The first half of the module provides an introduction to the mathematical methods required for economic modelling, focusing on linear algebra, optimisation and their role in formulating and solving economic problems.

The second half introduces the statistical methods required for data analysis in economics. We concentrate on statistical distribution theory and statistical inference before applying these concepts to the study of the linear regression model, whose extensions will be analysed in detail in subsequent econometrics modules.

The first half of the module provides an introduction to the mathematical methods required for economic modelling, focusing on linear algebra, optimisation and their role in formulating and solving economic problems. The second half introduces the statistical methods and concepts most applicable in economics.

The analysis of economic data necessarily proceeds in an environment where there is uncertainty about the processes that generated the data. Statistical methods provide a framework for understanding and characterising this uncertainty. These concepts are most conveniently introduced through the analysis of single-variable problems. However, economists are most often concerned about relationships among variables.

The module builds towards the study of regression analysis, which is often applied by economists in studying such relationships.

The first half of the module provides an introduction to the mathematical methods required for economic modelling, focusing on

• mathematical finance
• analysis of functions
• supply and demand
• matrix algebra
• differentiation
• elasticities
• maximisation/minimisation
• optimisation subject to constraints
• Lagrange multipliers
• integration

The second half introduces the statistical methods and concepts most applicable in economics. The analysis of economic data necessarily proceeds in an environment where there is uncertainty about the processes that generated the data. Statistical methods provide a framework for understanding and characterising this uncertainty.

These concepts are most conveniently introduced through the analysis of single-variable problems. However, economists are most often concerned about relationships among variables. The module builds towards the study of regression analysis, which is often applied by economists in studying such relationships.

This module is designed for absolute beginners.  At the end of the module, you should be able to comprehend and respond to texts on a range of topics and engage in everyday social conversation. You’ll work on reading comprehension, grammar, listening exercises, speaking skills, and writing short texts such as emails and essays.

We follow a structured course and use a textbook, but you’ll also be working with authentic texts from the very first week of German classes, which will help you develop a more extensive vocabulary and show you just how fast you’re progressing.

Building on the four skill areas of A level work (writing, reading, listening and speaking), this module aims to develop your command of German towards the level required in year two. It consolidates your understanding of grammatical structures, and improves spoken and written German.

We will work with authentic texts and media (including journalistic articles, short stories, videos, and clips from TV programmes in German, news items).

This is the core module for first-year students of German. We look at the history of German and introduce you to the linguistic study of the language. We also explore a range of themes and styles in German literature linked to key areas of German and Austrian culture (such as gender relations, migration and race).

Further topics address the study of German film, and German history with a focus on recent history since German reunification in 1990. The module gives you an insight into the different areas we teach and also the skills to explore these areas in more depth in subsequent modules.

The modules covers intermediate macroeconomics covering simple macro-models of goods, labour and money markets, such as IS-LM and aggregate supply/aggregate demand, including open economy extensions. Dynamic issues incorporating expectations and long run growth will also be considered.

The module will analyse policy questions surrounding exchange rates, monetary and fiscal policy, budget deficits and debt.

This module covers microeconomics including general equilibrium analysis, welfare economics, social choice, elementary game theory, and strategic behaviour of different actors such firms, voters and governments.

The module will provide an introduction to econometric techniques for modelling data. Topics to be covered include:

• panel data modelling (difference-in-difference models; regression discontinuity designs; experiments)
• qualitative response models
• time series models

This module generalises and builds upon the econometric techniques covered in the year one module, Mathematical Economics and Econometrics. This will involve introducing a number of new statistical and econometric concepts, together with some further development of the methodology that was introduced in year one.

The multivariate linear regression model will again provide our main framework for analysis. The module then introduces you to a range of statistical techniques that can be used to analyse the characteristics of univariate economic timeseries. The basic theoretical properties of time series models are discussed and we consider methods for fitting and checking the adequacy of empirical time series models. Methods of forecasting future values of economic time series are then considered.

This module will build on the skills acquired in the first year intensive beginners’ language module. Your skills in writing, reading, listening and speaking will be consolidated and developed further. We will work with authentic texts and media (including journalistic articles, poems and short stories, videos, clips from TV programmes, news items) and focus on both academic and non-academic registers. The module will help you work towards your year abroad, and will use texts that develop your knowledge of Germany and Austria.

This module is aimed at students on our intensive beginners’ pathway. The module will use a range of authentic and adapted German sources to combine language learning with an introduction to some aspects of contemporary German society, focusing on elements which are particularly relevant for the year abroad. We will practise working with the types of texts that are particularly useful for students preparing for the year abroad, as well as text genres which you will encounter during your time in Germany and Austria (e.g. application letters, CVs, how to approach an interview). Classes will also help you to develop your understanding of key aspects of contemporary German society.

This module will consolidate your proficiency in the four skill areas of German Language 1 (writing, reading, listening and speaking) and develop these further. The vehicles for instruction will be texts from newspapers and other sources, which will be used for discussion of translation issues and grammatical structures, linguistic analysis and textual comparison, oral presentation, and essay and CV writing.

The module will use texts that cover a broad range of general, journalistic and academic topics, as well as those that will help to prepare you for living, working and studying during your year abroad.

This module investigates the specific language used by the German media from linguistic and journalistic perspectives. You will learn about the distinctive pragmatic and semantic features of the language used on radio, on television and in the print media. This linguistic analysis then enables us to explore how journalists attract their target audience.

We will look at various text types and media genres including news and advertisements, as well as analyse the differences between media-specific language and the language used in society at large. In this context you will not only learn how journalists write for different media and genres but also about the ethics of journalistic writing and how ethical concerns affect the language of the media.

This module investigates social developments in GDR society over four decades of communist rule and social changes in Eastern Germany after the demise of the GDR. You will be introduced to the ideological principles which that the Socialist Unity Party attempted to legitimize in the GDR as the only viable alternative to fascism for a modern society. You will then look at how this ideology was enforced through state authority in every domain of society.

Based on contemporary texts (eg GDR propaganda, GDR writers and other intellectuals) you will further examine how people negotiated their lives within these officially imposed ideological structures, exploring a range of individual responses from conformism to non-conformism and opposition.

Finally you will look at a new kind of “public authority” during the Wende period in the GDR, which triggered the disintegration of communist power structures, and the subsequent changes in East German society. 

This module explores the history of print and broadcasting in Germany from 1933 to the 1990s, and investigate the relationship between media content and culture. You will develop a foundation in the key concepts of media studies and gain insight into the connection between media and ideology. They will also have the opportunity to undertake research into primary sources from our extensive newspaper archive.

This module focuses on the social, economic and political-ideological structures which shaped domestic and foreign policy between 1933 and 1945. We will begin by examining the process through which Weimar democracy was overthrown and the structures of dictatorship imposed. We will then turn to the social, economic and ideological factors which shaped the transformation of Germany into a Volks-gemeinschaft before examining the development of Nazi foreign policy and the genesis of the Holocaust. Throughout the module we will consider political, social, economic and ideological factors in shaping Nazi policy at home and abroad.

In this module we will examine a selection of approaches to modernity, beginning with Kant’s assertion of individual reason as the founding stone of enlightened social organisation. We will move on to examine how Marx and Engels, Nietzsche and Freud all interrogated Kant’s position in their work. Our discussions will touch on the nature of the individual subject, the role of culture, as well as competing ideas of the status of reality as based in social conditions, or the product of the will, drives, or ideology.

This module is a general introduction to the economic problems of developing countries. The module will cover such topics as:

• the implications of history and expectation
• poverty, income distribution and growth
• fertility and population
• employment, migration and urbanisation
• markets in agriculture
• agricultural household models
• risk and insurance
• famines

This modules will look at:

• market failure and the need for environmental policy - the Coase theorem
• instruments of environmental policy - efficiency advantages of market instruments
• applications of market instruments, especially the EU Emission Trading Scheme
• fisheries - the open access problem and rights-based policies
• valuation of the benefits of environmental policy
• biodiversity and its benefits
• international trade in polluting goods
• mobile capital: race to the bottom?

This module provides a foundation in behavioural economics and the role of experimental methods in economics. The traditional approach in economics is to explain market outcomes and economic decision-making using simple theoretical models based on perfectly rational, self-interested agents who maximise their well-being by carefully weighing up the costs and benefits of different alternatives. Behavioural economics, on the other hand, aspires to relax these stringent assumptions and develop an understanding of how real people actually make decisions.

The module will introduce you to behavioural and experimental economics, discuss these fields from a methodological perspective and examine several areas of economic analysis in which they are applied. This will include individual choice under risk and uncertainty, decision-making in strategic situations and competition in markets.

This module will offer an introduction to some theoretical concepts related to the allocation of risk by financial institutions. Then it will apply these concepts to the analysis of financial and banking crises.

This module provides an economic analysis of the theory and practice of organisation of firms and industries. It explores the nature of competition among firms and their behaviour in various markets, with the specific emphasis on imperfectly competitive markets. Tools for both empirical and theoretical approaches to the analysis of industries are covered.

Starting from a detailed analysis of market structures, the module goes on to discuss various aspects of firms' behaviour and their influence on market outcome. Among the behaviours covered in the module are price discrimination, vertical integration, advertising, research and development activities and entry and exit of firms. Government regulation of industries is also discussed.

This module is an introduction to international trade theory and policy. It covers the core trade theories under perfect and imperfect competition and applies them to understanding the pattern of trade, gains from trade and modern topics like foreign outsourcing. On the policy side, it examines the effects of different government trade policy instruments and the role of international trade agreements.

This module provides an introduction to the economics of the labour market. We will look at some basic theories of how labour markets work and examine evidence to see how well these theories explain the facts.

Particular attention will be given to the relationship between the theory, empirical evidence and government policy. The module will refer especially to the UK labour market, but reference will also be made to other developed economies.

This course will provide a foundation for the monetary economics modules in the third year and is a complement to financial economics for the second and third years. It will cover topics such as the definitions and role of money, portfolio choice, financial markets and banks, central banks and monetary policy, and the monetary transmission mechanism. 

Under these headings the module will address issues of theory, policy and practice relating to recent experience in the UK and other countries. The module will feature some current debates and controversies based on recent events.

This module is concerned with the effect of political and institutional factors on economic variables as well as with the study of politics using the techniques of economics.

This module looks at:

• public finances in the uk
• market failures
• fundamental theorems of welfare economics
• social welfare functions
• externalities
• public goods
• natural monopolies
• public choice
• social insurance: social security, taxation and equity
• excess burden of taxation and tax incidence

An independent research project, involving the application of techniques of economic analysis to a self-chosen research topic and the presentation of a written report. There will be lectures to provide general guidance on economic research methods and writing an undergraduate dissertation in economics.

Topics include:

• introduction to the dissertation
• types of dissertation
• literature reviews
• sources of data
• writing up your dissertation
• data entry and data management
• an introduction to STATA
• descriptive statistics
• practical issues in regression analysis
• model selection
• endogeneity bias

This advanced German language module will further enhance your practical command and effective understanding in writing, reading, listening and speaking. Working with the support of native speakers, we will use seminar time to engage in class discussions as well as work on texts and practise writing skills in a variety of registers.

You are encouraged to reflect on your year abroad. We will also work on translation skills in this module. Classes will use a variety of authentic German texts to develop your translation skills towards professional standards for translation into English.

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.

The 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 and trade policy reform.

The 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

The 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.

The module will cover the following:

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 applied political economy

This module covers:

• Models of intra-industry trade
• Trade policy in oligopolistic industries
• Multinational Enterprises
• Testing trade theories
• The WTO and "new issues"

The 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 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.

The module will cover post-crisis monetary policy; controlling money markets with excess reserves; spillovers of QE; effects of QE on asset and credit markets; low real equilibrium interest rates; uncertainty in monetary policy.

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

Although Germany only had overseas colonies between 1884 and 1918, German, Austrian and Swiss involvement in European colonial history permeates literature and culture to the present day.

This module uses short novels, stories and poems written between 1800 and the present to look at a range of themes in German postcolonial studies: for example, the exotic fascination with Africa; slavery and Afro-German history; anti-colonialism and nostalgia for Germany’s lost empire; political anti-imperialism and anti-racism; the German writing of African immigrants; and the rise since the 1990s of a critical postcolonial memory of Germany’s often forgotten colonial history.

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.

The module examines the problems inherent in translating source-culturally significant materials. Cultural transfer is considered in both directions (English-German and German-English).

The module focuses on two areas of cultural transfer: in literature and in TV- and film scripts. The module is assessed in English.

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.