For your final year you will return to Nottingham. Your economics studies will focus on a dissertation and some optional modules, while you refine your newly fluent language skills in a final language module and your choice from a list of optional modules.
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.
- 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.
Advanced Development Economics
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.
Advanced Econometric Theory
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.
Advanced Experimental and Behavioural Economics
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.
Advanced Financial 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
Advanced Industrial Economics
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.
Advanced International Trade I
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.
Advanced Labour Economics
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.
Advanced Monetary Economics
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.
Advanced Political Economy
The module will cover the following:
- 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
Advanced International Trade II
This module covers:
- Models of intra-industry trade
- Trade policy in oligopolistic industries
- Multinational Enterprises
- Testing trade theories
- The WTO and "new issues"
Advanced Mathematical Economics
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.
Economic Policy Analysis I
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.
Economic Policy Analysis II
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.
International Money and Macroeconomics
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
- regression discontinuity
German Colonialism: History, Literature, Memory
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.
Mythology in German Literature
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.
Translating Culture: Cultural Issues in Translating between English and German
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.
Twentieth Century German Theatre: From Avant-garde to Virtual World
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.
Vergangenheitsbewaltigung und Nationale Identitat: Geschichte und Gedachtnis nach dem Holocaust
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.