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MPhil in Economic Research - Optional Modules

Optional Modules


 

  • S500 : Development Economics

    This course is on development economics and deals with the economic problems of poor countries. It considers some of the main theoretical and analytical issues in development economics as well as the historical development process of now-developed countries. The topics covered are growth, development, poverty, inequality, education, technology, innovation, mutual insurance, finance, savings, weather, climate, health, pandemics, representative democracy, religion, social capital and conflict.

  • S140 : Behavioural Economics

    This course offers an introduction to the behavioural approach to economics. Among the topic covered are behavioural game theory, intertemporal decision making, neuroeconomics, cognitive biases, decision-making heuristics and addiction. The course includes both theoretical and empirical material, but a recurring theme is the importance of experimental findings both in the laboratory and in the field.

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  • S150 : Economics of Networks

    The course introduces students to the economics of networks. This area of research has emerged in the last two decades and it has introduced a set of tools for economists to incorporate network structure in the analysis of individual behaviour and economic outcomes. Topics covered include the formation of networks, the provision of local public goods, coordination, learning, trading, and financial networks. A central focus of the course is the interplay between theory and experiments.

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  • S170 : Industrial Organisation

    This course provides a rigorous treatment of the main concepts in industrial organisation. The course covers both theory and applications.

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  • F500 : Empirical Finance

    This course is an introduction to some major topics in empirical finance. It aims to endow the student with an understanding of the current issues, methods, and conclusions of empirical research on financial markets. The focus is primarily on equity markets. There will be an emphasis on empirical results and their interpretation. Econometrics required background.

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  • F520 : Behavioural Finance

    In this course we examine how the insights of Behavioural Finance complements the traditional paradigm and sheds light on the behaviour of asset prices, corporate finance, and various Wall Street institutions and practices. Behavioural Finance combines behavioural and cognitive psychological theory with conventional finance to provide understanding how people make financial decisions. It represents a collection of different approaches which seek to explain the existing findings and puzzles. This typically involves relaxing the assumption of fully informed and rational agents.

    We start by briefly reviewing the efficient markets hypothesis, rational choice and expected utility theory. We will aim to understand observed deviations from the predictions of the efficient market hypothesis with the goal of providing better insights into the functioning of financial markets. We will consider alternative models of decision making, in particular Prospect Theory and the distinction between risk and Knightian uncertainty. We will then consider evidence from psychology on the biases that arise in individual decision-making and in particular the role of herding and investor sentiment. We review recent research on limits to arbitrage.

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