Microeconomic Analysis

This course follows on from the Intermediate Microeconomics sequence taught at stage 2. The primary focus is on applying fundamental mathematical tools and techniques for modelling standard microeconomics problems involving consumers, producers and markets. Techniques in both algebra and calculus will be used. The main objective is to show students how a selection of standard microeconomics problems can be modelled in terms of constrained optimisation, solving those problems, and above all, analysing the solutions.

15 points

(1) ECON207; and (2) MATH102 or MATH199; and (3) 15 points from STAT RP: ECON208

Econometrics

This course teaches advanced skills in practical econometrics. Coverage will include the following topics: OLS, FGLS, robust standard errors, panel data, Stata programming, Monte Carlo experiments, time series, nonstationarity, and error correction models. While the course will present some theory, the emphasis in this class is on doing. A distinctive feature is that we will illustrate key concepts using computer simulations so that students can "see" the practical consequences of the issues they are studying.

15 points

(1) ECON213 or STAT202; and (2) MATH102 or MATH199

Macro and Monetary Economics

Derivation of the demand for money. Monetary policy under uncertainty. Analysis of alternative monetary rules. Taylor rules. Term structure of interest rates. Financial crises. Economic Growth.

15 points

(1) ECON206; (2) MATH102 or MATH199. RP: ECON207

Industrial Organisation

Imperfectly competitive markets and behaviour of firms. Monopoly models: standard, dominant firm, durable good, natural monopoly, perfectly contestable markets, price discrimination. Oligopoly models: Cournot, Bertrand, product differentiation. Measuring market power, competition policy.

15 points

ECON207 or ECON208 RP: ECON208

Public Economics

Economic theories for the role of government in a market economy and the role of economics in the formulation and evaluation of public policy.

15 points

ECON207 RP: ECON208

Internship or Consultancy Project

An internship or consultancy project is an opportunity to experience a professional work environment. Internships or projects taken for credit are usually unpaid. You are expected to develop a good understanding of a sector, market or organisation. The work you submit will show an application of the tools, ideas or concepts of economics. You will be required to reflect critically on the requirements of transitioning from an academic to a work environment and the skills valued in a professional workplace. As these are economics placements, priority is given to economics majors.

15 points

(1) ECON207 or ECON208; and (2) Subject to the Head of Department approval

FINC390, ARTS395, PACE395

Time Series Methods

Analysis of sequentially collected data including data modelling and forecasting techniques.

15 points

15 points from MATH102, EMTH118 or MATH199; and another 30 points from 200 level STAT or ECON213

ECON323, FINC323

Time Series Methods

Analysis of sequentially collected data including data modelling and forecasting techniques.

15 points

(1) ECON213; and (2) ECON207; and (3) MATH102

FINC323, STAT317

Advanced Macroeconomics

ECON325 studies the economy as a whole to understand the two main areas of macroeconomics: long-run growth in the standard of living and the general level of prices, and short-run fluctuations in employment and output. The course gives particular attention to the mathematical techniques that economists use to study these areas and the microeconomic foundations that underpin much of macroeconomic analysis.

15 points

(1) ECON206; and (2) MATH102; and (3) ECON207 or ECON208

Financial Economics

The economics of finance with applications to asset valuation, corporate finance, and portfolio management.

15 points

, (1) FINC201; and (2) MATH102 or MATH199; RP: MATH103

FINC331

ECON207

Financial Economics

The economics of finance, with applications to asset valuation, corporate finance, and portfolio management.

15 points

, (1) FINC201; and (2) MATH102 or MATH199; RP: MATH103

ECON331

ECON207

Health Economics Overview

An application of microeconomic and empirical tools to the study of health and medical care. The topics covered will include market failures arising from asymmetric information, the demand for and production of health, provision of health insurance, and government involvement in the medical care system.

15 points

ECON207 RP: ECON208

Development Economics

Economics 340 will examine some of the major economic issues faced by individuals and governments in poorer countries, and introduce students to the field of development economics. The course will study the concepts and measurement of development, poverty and growth, and how economists use theory, empirical analysis and experiments to address issues in these areas. Topics surveyed will include poverty and inequality, population growth, urbanization and migration, agriculture and rural development, investments in education and health and the role of women, governance and institutions, credit and insurance, foreign investment and aid, and international trade policy. In the process, students will be exposed to the ongoing debates in development economics.

15 points

ECON207 or ECON208 RP: ECON208

International Finance

This course provides an understanding of the fundamental concepts and issues in international finance. It develops a "tool-kit" of common approaches and applies it to many real-world examples in international finance. We cover topics such as the foreign exchange markets and exchange rate systems, balance of payments, international arbitrage and interest rate parity, exchange rate determination and forecasting, measuring and managing exchange rate risk, international debt and equity financing, currency derivatives, interest rate and currency swaps, and financial crises.

15 points

ECON206 or FINC201 or FINC203 RP: 15 points in MATH or Year 13 Math with Calculus

ECON 210 and FINC 315 and FINC344

International Finance

This course provides an understanding of the fundamental concepts and issues in international finance. It develops a "tool-kit" of common approaches and applies it to many real-world examples in international finance. We cover topics such as the foreign exchange markets and exchange rate systems, balance of payments, international arbitrage and interest rate parity, exchange rate determination and forecasting, measuring and managing exchange rate risk, international debt and equity financing, currency derivatives, interest rate and currency swaps, and financial crises.

15 points

ECON206 or FINC201 or FINC203 RP: 15 points in MATH or Year 13 Math with Calculus

FINC315, ECON344, ECON210

Special Topic: Economic Cost-Benefit Analysis

Economic cost-benefit analysis (CBA) involves the use of microeconomics to formally assess the costs and benefits of different projects or investments. CBA is frequently used as a key input into major policy decisions for government ministries and departments. Understanding the advantages and limitations of CBA, and being able to distinguish well-conducted from poor analyses, is an important skill for a public policy analyst, or for a professional analyst or consultant. This course provides you with the conceptual foundations and practical knowledge you will need to read and understand CBA reports, conduct a CBA, and to be a thoughtful consumer of policy research. An important part of the course is learning different economic methods to calculate and then estimate values of costs and benefits. The course draws on a mixture of economic theory and real-life case studies to examine both the theoretical and practical issues involved in CBA.

15 points

ECON207

Internship or Consultancy Project

An internship or consultancy project is an opportunity to experience a professional work environment. Internships or projects taken for credit are usually unpaid. You are expected to develop a good understanding of a sector, market or organisation. The work you submit will show an application of the tools, ideas or concepts of economics. You will be required to reflect critically on the requirements of transitioning from an academic to a work environment and the skills valued in a professional workplace. As these are economics placements, priority is given to economics majors.

15 points

(1) ECON207 or ECON208; and (2) Subject to the Head of Department approval

FINC390, ARTS395, PACE395

Internship or Consultancy Project

An internship or consultancy project is an opportunity to experience a professional work environment. Internships or projects taken for credit are usually unpaid. You are expected to develop a good understanding of a sector, market or organisation. The work you submit will show an application of the tools, ideas or concepts of economics. You will be required to reflect critically on the requirements of transitioning from an academic to a work environment and the skills valued in a professional workplace. As these are economics placements, priority is given to economics majors.

15 points

(1) ECON207 or ECON208; and (2) Subject to the Head of Department approval

FINC390, ARTS395, PACE395