-A +A

Economics

Visiting Students who do not have a strong background in the study of Economics are required to select from the core courses, provided they have had some exposure to economics and sufficient mathematical and statistical studies background. Oxford core courses cover material beyond standard intermediate level, including applications and policy analysis and evaluation.

Visiting Students who have already covered standard US intermediate level microeconomics and macroeconomics courses in economics (or equivalent elsewhere), and have sufficient mathematical and / or statistical methods skills, are welcome, in consultation with tutors at their home institutions, to select any courses from the list below.

Every effort will be made to provide you with your chosen options, but please be aware that we reserve the right to withdraw courses or change the timing of tutorials over the academic year should the need arise.  The Department of Economics organises all relevant lectures centrally and timing of these might also change in a particular academic year, and some course may be withdrawn depending on teaching resources.

Economics courses can only be taken as primary courses. Please note also that because most lectures for optional courses take place in Michaelmas Term, we very much prefer Economics candidates for the whole academic year.  Lectures are only given in a particular term, are an integral part of an Oxford Economics course and will not be repeated during one particular academic year.

Availability of Economics tutorials also varies according to term of study. It is not uncommon in Oxford that lectures are given in another term than tutorials are taken. Please note the term in which relevant lectures take place and in which term(s) tutorials may be taken for a particular course. This information is noted in brackets after the course title.

Core Courses

Microeconomics (Both lectures and tutorials in Michaelmas Term only)The course aims to introduce students to some of the fundamental ideas and tools of modern microeconomic theory, including analysis and use of theory of welfare economics, game theory, uncertainty and asymmetric information. Applications to policy issues, such as competition and environmental policies, are integral part of the course. This provides a foundation for many of the subsequent optional courses, as well as core Macroeconomics and core Quantitative Economics.
Macroeconomics (Both lectures and tutorials in Hilary Term only)The focus of this course is on the core theoretical ideas that are relevant for contemporary macroeconomic policy making. This will involve, for instance, introduction to intertemporal microfoundations of modern macroeconomic modelling, to alternative theories of business cycles and to the idea of time inconsistency in policy making.  The relevance of these ideas is illustrated with the UK and other international experience.
Quantitative Economics (Both lectures and tutorials in Trinity Term only)This course is designed to give students a good understanding of the rationale for and intuition about the application of statistical methods and econometrics to the analysis of a range of applied economics issues, such as income inequality, the economic effects of education,  the behaviour of inflation, and determinants of aggregate consumption.

 

Optional Courses

British Economic History (Lectures in Trinity Term; Tutorials in Michaelmas, Hilary or Trinity Terms)The aim of this course is to provide an analysis of the British economy since 1870 from an economist's perspective.  Much of the course will examine the macroeconomics of the period, and the analysis will involve a focus on the international context, including analysis of relative decline of Britain from its position as global industrial leader in the beginning of the period.
International Economics (Lectures in Michaelmas Term; Tutorials in Michaelmas, Hilary or Trinity Terms)This course has much to offer in helping students to think about global economics developments by providing an understanding of, for example, the determinants of international trade and rationale (or otherwise) for protectionist policies, the fundamental determinants of the balance of payments and exchange rates and the international context within which domestic macroeconomic policy is designed and conducted.
Economics of Developing Countries (Lectures in Michaelmas Term and Hilary Term; Tutorials in Trinity Term)The objective of the course is to introduce students to key areas of development economics, analysis of conditions in developing countries, and exploring some of the major economic policy issues relating to developing countries, for instance, poverty, health and industrialisation policies.
Public Economics (Lectures in Michaelmas Term; Tutorials in Michaelmas, Hilary or Trinity Terms)Public Economics is a wide-ranging discipline concerned with most microeconomic aspects of economic policy. This course covers both principles and applications, for instance, the welfare theoretic foundations of policy analysis, the design of specific taxes, and the economic rationale for the major categories of public spending.
Money and Banking (Lectures in Michaelmas Term; tutorials in Michaelmas, Hilary or Trinity Terms)This course covers a range of topics in modern monetary economics, starting from microeconomic explanations for the existence of money and then proceeding to aggregate models of price and output fluctuations, the monetary transmission mechanism, the conduct of monetary policy, explanations for hyperinflation episodes and the relationship between monetary policy and asset returns.
Labour Economics (Lectures in Michaelmas Term; tutorials in Michaelmas, Hilary or Trinity Terms)The aim of the course is to understand: the behaviour of employees and employers and of collective groups which they may form; how the labour market works and the macroeconomic and distributional outcomes it produces; the policies and practices of organisations towards their employees; government policy towards labour issues.
Economics of Industry (Both lectures and tutorials in Michaelmas Term only)This course is concerned with the behaviour of firms, and the welfare implications of this. The objective is to provide students an in-depth understanding of the theoretical foundations of firm decisions regarding pricing, product differentiation, advertising, entry, mergers and takeovers, innovation, vertical integration, and organization, from a perspective of strategic firm behaviour. Policy responses to anti-competitive practices by firms will be critically assessed in these areas.
Advanced Econometrics (Both lectures and tutorials in Michaelmas Term only)Econometrics is concerned with the application of statistical theory to the analysis of economic data and the estimation of economic relationships. This course covers both an introduction to econometric theory and methods, and a range of applications, including the use of computer software packages.  A necessary prerequisite for this course is knowledge of statistical methods and applications equivalent to Oxford Core Quantitative Economics course.
Advanced Microeconomic Theory (Both lectures and tutorials in Hilary Term only)The course provides a technically rigorous treatment of core elements of microeconomic theory (except Game Theory), in particular the economics of general equilibrium, risk and uncertainty  and asymmetric  information. A necessary prerequisite for this course is knowledge of microeconomic theory at the level equivalent to Oxford Core Microeconomics course, and sufficient command of mathematical methods.
Advanced Game Theory (Both lectures and tutorials in Hilary Term only)The course covers the following topics: Strategic-form games and extensive-form games. Applications and topics may (but not necessarily) include bargaining, auctions, global games, evolutionary games, cooperative games, learning, and games in political science. A necessary prerequisite for this course is knowledge of microeconomic theory at the level equivalent to Oxford Core Microeconomics course, and sufficient command of mathematical methods.