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Economic Research

MPhil Economic Research

The MPhil Economic Research is the first year of a 4-year route to a PhD and runs from
mid-September to the end of August. The MPhil Economic Research is the foundation
year for the PhD programme and involves a thorough study of the core areas of
economics and the requirement to explore one area in detail in order to begin the process
of choosing a PhD research topic. However, please note that it is not necessary to have a
detailed proposal for PhD research at the time of applying. The Faculty recognises that
some applicants will not be completely sure at the time of applying whether they do or do
not wish to pursue a PhD. Applicants will have the opportunity of switching between MPhil
Economic Research and MPhil Economics during the first half of the first term.

Each student will take eight modules plus a dissertation. One module is equivalent to
eighteen hours of lectures.

Requirements:

to attend the maths preparatory course in mathematics and statistics

two compulsory modules in each core area of microeconomics, macroeconomics
and econometrics [6]
one additional module from the core areas [1]
one either from the core areas or from the list of additional options [1]
a dissertation of up to 10,000 words

Preparatory Course in Mathematics and Statistics

The compulsory three-week preparatory course in mathematics and statistics runs from
mid-September to early October. The aim of this is to review and develop the required
technical methods for the compulsory core modules in macroeconomics, microeconomics,
and econometrics. The topics covered are: linear algebra; statistics; static optimisation;
dynamic optimisation; differential and difference equations. The preparatory course also
includes a two hour examination.

Core Areas

Microeconomics

MicroeconomicsI [Compulsory]
Microeconomics II [Compulsory]
Topics in Economic Theory
Applied Microeconomics

Macroeconomics

Macroeconomics I - Macroeconomic Analysis [Compulsory]

Macroeconomics II - Macroeconomic Theory [Compulsory]
Applied Macroeconomics
Advanced Topics in Macroeconomic Theory

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Econometrics

Econometric Methods [Compulsory]

One of the following can be taken as the second compulsory module

Time Series Econometrics and Financial Econometrics

Cross-Section and Panel Data Econometrics
Applied Econometrics

Additional Options

PLEASE NOTE that these are all modules which may be offered, but the Faculty reserves
the right to alter, omit or add optional modules within the overall framework described
above. Full details of the content of each module will be available in due course.

Behavioural Economics
Economics of Networks
Political Economy
International Finance
International Trade
Asset Pricing
Development Economics
Poverty Environment & Sustainable Development
Historical Perspective to Financial Crises
British Industrialisation
Industrial Organisation

Assessment

Students will be examined on Microeconomics I, Macroeconomics I and Econometrics I in

January and on the remaining five modules in the middle of May. Each module accounts
for 10% of the overall mark and the dissertation accounts for 20% of the overall mark.
Dissertation

During the second term, each student is allocated a supervisor for the dissertation
(maximum length 10,000 words). The topic of the dissertation should be closely related to
the subject of the proposed PhD research, and must be formally approved by the Faculty.
During the second and third terms the student will meet the supervisor to discuss an
outline of the topic, a bibliography, the use of appropriate data and methods of analysis,
and a draft of the dissertation. After the written examinations in the third term, students
can concentrate entirely on their dissertations and will be provided with up to two contact
hours of supervision. The deadline for submitting dissertations is the end of August.
Continuation to PhD

Continuation to the first year of the PhD will depend on meeting the continuation grade
and finding a suitable supervisor.

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