MSc in
Applied Economics

The module equips students with optimisation to study and evaluate microeconomic issues at postgraduate level. The focus is primarily on the behaviour of consumers, firms, labour and capital markets using mathematical tools from calculus, algebra and integration. From utility maximisation to cost minimisation, micro-level models are central to the study of all areas of economics. In addition, the module covers the production function, firms’ profit maximization, and the impact of wages on employment using micro-level models.

Assessment: An individual coursework on a selected topic and final take-home time-constrained test assessing students’ understanding of applying economic concepts and theories to analyse contemporary economic issues in a short period of time.

Students will learn about modern short-run macroeconomic theories and policies. The module covers topics such as business cycles and their causes, aggregate demand and aggregate supply, price rigidity, consumption and investment, inflation and monetary policy, budget deficits and fiscal policy, asset prices and bubbles, and global financial and macroeconomic crisis.

Assessment: To assess real-world application of the subject, students are assigned an individual coursework that requires them to analyse and present real-world economic data. Additionally, class presentations are used to assess the students’ ability to communicate their ideas and understandings to the class. The take home test assesses a students’ overall knowledge and understanding of the course’s content, as well as their ability to analyse and apply the material to real-world scenarios.

The module will cover a range of econometric techniques frequently encountered in the analysis of economic data. The module is designed to give students the opportunity to use these techniques in hands-on applications in the form of homework assignments, and a short research paper. The course will begin with a brief review of the classical regression model and its underlying assumptions. Then we will move on to cover topics including instrumental variables, panel data models, discrete response models, time series analysis.

Assessment: In this module two types of assessment are used: individual written coursework with presentation; time-constrained closed-book final examination.

The module addresses development issues from the perspective of long-run macroeconomics. This module covers the most critical issues in growth and development by providing in-depth exposure to current thinking and research in this area. In particular, it widely applies methods of policy evaluation, used in economics, sociology, political science, demography and other related fields.

Assessment: The module consists of two assessment methods: Group coursework and Final examination.

The module will introduce a systematic approach to data analysis by introducing related theory and tools. You will learn a general framework that will help you identify the business’ “growth engine” and related data that you need to collect to produce most relevant analysis. You will also learn about industry standard tools and other emerging data analytics tools that will help you make data driven decisions.

Assessment: The assessment consists of two parts: Individual Coursework (An individual write-up for reviewing and assessing a business or government) and Group coursework (A business or government policy proposal following the template provided by the instructor).

The module requires students to undertake a piece of independent empirical research in applied economics to be submitted in the form of a report at the end of the course. The work is supervised, primarily through workshop groups and individual academic supervision sessions, by a member of staff with expertise in that area. Module’s aims, content and manner of execution reflect the integrative nature of projects at Master’s level. In addition to applying theories studied in the different modules, students will be able to undertake an intensive study into a specific area of Economics of their choice.

Assessment: Assessment for this module comprises three elements: Progress report, Final dissertation report, Viva. The assessment methods are designed to ensure that students acquire and demonstrate proficiency in framing, developing, and executing a research project in the field of economics. The submission of progress report and the oral presentation are also mandatory parts of the assessment, without which the mark for the final dissertation will be annulled.

The module examines the organisational relationship between business and government. The core of this module is to train students to gauge their potential to excel in integrative business and government policy analysis, with perspectives from business decision making, business strategy analysis, economic analysis, and evidence-based analysis. The module will introduce students to how the government policy making process will influence business decision making and business strategies among firms and individuals in a globalised business environment, and how the business leaders will communicate their feedback with the government decision makers.

Assessment: The assessment consists of two parts: Individual Coursework and Group coursework. The goal of the assessments is to assess students’ ability to understand pressing business and government policy issues and critically assess business and government policies from the point of view of modern business and economic theory and apply the concepts, frameworks and techniques of business and government policy analysis and monitoring and evaluation to real-world policies.

Green Economy and Sustainability are becoming increasingly important nowadays, as economic growth in many cases led to environmental problems. This module explores economics from environmental and sustainability perspectives studying interactions between firms, regulations, and norms. The module considers a range of Green Economy ideas including carbon markets, payments for ecosystem services, green taxes, environmental subsidies, green supply chains, and conservation finance. Special emphasis is placed on the theory of change underlying the models, the key debates in the field, and assessing to what extent these ideas produce needed changes.

Assessment: The module will be assessed by an individual report (coursework) and a take-home test. The coursework assesses students’ understanding of key concepts of green growth and green economy, conducting comparative research and presentation of various relevant policies in the economy. The take home test will provide more general assessment of students’ ability to analyse and discuss key concepts and issues of Green Economy.

The module provides a comprehensive introduction to contemporary finance, focusing on core valuation principles, advanced corporate finance topics, and emerging market trends. It emphasizes the practical applications of financial theory, covering traditional security analysis, portfolio management, derivatives, risk modelling, and financial decision-making, with consideration of recent innovations including digital finance and sustainability issues. Designed specifically for Applied Economics students with varying finance backgrounds, the module bridges economic theory with financial practice through hands-on experience with industry-standard tools like Bloomberg Terminal and R. Students will develop robust analytical skills applicable to real-world financial challenges in diverse market environments.

Assessment: Two summative assessments will be used to formally examine the extent to which students are able to demonstrate they have gained the required knowledge and abilities. The coursework requires students to solve real financial problems using actual market data and produce comprehensive working financial models alongside a detailed analysis report. The second assessment is a Group Case Study assignment. Students will be presented with a hypothetical company or portfolio featuring complex financial scenarios that require systematic analysis, solution development, and critical evaluation of alternative strategies.