Applied Economics

Module Code: EC4150

Module Title: Applied Economics

• ECTS Weighting: 15
• Semester/Term Taught: Michaelmas + Hilary Term
• Contact Hours: TBC
• Module Personnel: Lecturer - Ronan Lyons / Lecturer - Gaia Narciso

Learning Outcomes

Part A – Urban Economics
On successful completion of this course, students will be able to:

• Explain the economics of city development, urban structure and land use
• Apply their economic training to key issues facing urban policymakers, including unemployment, crime and poverty
• Outline the economics of housing market bubbles and the nature of house price variation across space and over time

Part B – Topics in Applied Microeconomics
Having successfully completed this module, students will be able to:

• Solve theoretical models;
• Discuss empirical results models;
• Confidently discuss papers in the field of Economics;
• Critically evaluate contributions to the field of economics.

Module Content

Part A – Urban Economics
Cities matter. They account for just a small fraction of land use but over half the world’s population and almost all economic activity. Therefore, to understand modern economies, we need to understand cities and the forces of agglomeration and clustering that sustain them. This semester will focus on urban economic theory and how that relates to choices faced by policymakers in a range of areas.
Structure:

1. City development & land use
2. Urban labour markets
3. Crime & poverty
4. The housing market
5. Local government

Part B will cover a range of topics in applied microeconomics, in particular in the fields of Political Economy and Development Economics. It begins by introducing the experimental approach to Economics. We will then cover some benchmark theories of democratization and institutions. Next, we will analyse recent contributions on colonial origins, natural resource curse, corruption, and civil conflict. We will then study how informal markets operate in developing countries and we will discuss the functioning of credit and insurance sectors, with an emphasis on how social norms can affect economic outcomes. Next, we will cover issues related to health and migration. There will be a strong emphasis on experimental settings. Active participation of students will be sought.

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Recommended Reading List

Part A
A detailed reading list will follow. It is likely that the core text will be Arthur O’Sullivan, Urban Economics. A useful primer for interested students is Ed Glaeser, Triumph of the City (2011).
Part B
Part B of the module will cover state-of-the-art contributions in the fields of Political Economy and Development Economics. A detailed reading list will follow.

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Module Pre Requisite

EC2010

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Assessment Details

To be advised

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Module Website

TBC

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