Economics and Politics - BA (Hons)

This module builds on the Stage 1 teaching of microeconomics to provide an intermediate course, which takes full account of the policy issues and controversies in the application and understanding of microeconomic issues. It introduces the fundamental theoretical foundations of microeconomics and provides examples of their application.

The module provides an analysis of the way in which the market system functions as a mechanism for coordinating the independent choices of individual economic agents. It addresses the behaviour and decision making of consumers and firms, and evaluates the efficiency and equity implications of competition and other market structures. The role of government in incentivising types of economic behaviour and addressing market failure is also explored.

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This module builds on the Stage 1 teaching of macroeconomics to provide an intermediate course, which takes full account of the policy issues and controversies in the world macroeconomy.

Autumn Term considers the basic methodology of macroeconomic models and examines how macroeconomic theories of aggregate demand and aggregate supply are derived. It is important to be aware that there are many theories of aggregate demand and supply and that consideration of these theories involves studying the markets on which they are based. The Autumn Term develops and extends use of the IS-LM model to derive a theory of aggregate demand in both open and closed economies. It also scrutinises the labour market to derive a theory of aggregate supply and study the relationship between inflation and unemployment.

Spring term starts with studying the long-run, that is, what determines the standard of living of countries in the long term, as opposed to short-run economic fluctuations. It then considers microeconomic fundamentals of macroeconomics to understand in-depth the determinants of consumption, investment, and labour supply decisions. These considerations and the ideas developed in the autumn term are then used to extensively examine macroeconomic demand management policies (fiscal and monetary) and their shortcomings. Finally, we consider the role of the financial system in the macroeconomy and the causes behind some financial crises. Particular focus is given to the 2008/09 global financial crisis.

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The module helps prepare students to acquire and develop the employability and transferable skills necessary to search and successfully apply for work experience and graduate opportunities in the commercial and public sector and postgraduate study.

The curriculum builds on employability support offered at Stage 1 providing intermediate level knowledge and exercises in application writing, CVs, careers advice, interview and assessment centre techniques, numeracy and competency tests, and psychometric evaluation. The aims here are to support students in obtaining long internships across the Summer Vacation.

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This course builds on students' knowledge of the approaches and methods used in the study of politics and international relations introduced in the first year of the degree program and the foundation in the analysis of quantitative data established in the second year. Students will be asked to consider the nature and purposes of descriptive and causal analysis in politics and international relations. Students will develop skills in choosing, using and evaluating the research designs, and techniques for the collection and analyses of data used by researchers in these fields. Emphasis in the course will be placed on a mixed methods approach to political analysis that enables student to integrate, analyse and evaluate both qualitative and quantitative data. In addition to developing a conceptual and theoretical understanding of different approaches to evidence gathering and analyses and how they can be combined, students will also have the opportunity to extend their skills in practical data analyses.

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The quantitative estimation and evaluation of economic models is an essential feature of the study and application of economics. This module provides an introduction to econometric theory and the application of econometric techniques to economic models and data. This is achieved by explaining key economic and econometric issues using applications of econometrics that quantify and evaluate economic theory and which provide an empirical evaluation of economic behaviour and the assessment of economic policy.

The module provides both an analytical and practical introduction to econometric theory, equipping students with the analytical tools to carry out applied econometric work and to explore more advanced areas of econometric theory at later stages of their chosen degree programme. The practice and application of econometrics is achieved using both Microsoft Excel and specialist econometric software (e.g. Eviews &/or Stata).

The topics considered in the module include:

• Models and data; ordinary least squares (OLS), properties of OLS, simple and multiple linear regression, inference, confidence intervals, hypothesis tests, multicollinearity, heteroscedasticity, autocorrelation, dummy variables, functional form, linear restrictions, diagnostic testing and basic panel data.

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The module provides an analytical introduction to time-series econometrics and the challenges that present themselves with the analysis of time-series economic data. Traditional econometric techniques such as Ordinary Least Squares (OLS) are poorly suited to the estimation of economic models or data which exhibit non-stationary processes. This module provides an introduction to econometric methods that are suitable for stationary and non-stationary time-series analyses.

The module is both analytical and practitioner based providing students with the knowledge, understanding, application and interpretation of time-series techniques using specialist econometric software. The module equips students with the analytical tools to carry out advanced time-series econometrics work at a later stage of their degree programme.

The topics considered in the module include:

• Stationary and non-stationary data; trend- and difference-stationary processes, stationary autoregressive models, multivariate stationary models, spurious regression, cointegration, ADF tests, forecasting.

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This module explores the origins, evolution and role of the United Nations (UN) in world politics. The aim is to understand how and why states and other actors participate in the UN. The module further explores the extent to which the United Nations is able to achieve its stated goals of maintaining peace and security, achieving cooperation to solve key international problems, and promoting respect for human rights. The module examines the work of key UN organs, agencies, and member states in a variety of issue areas, with the aim of critically assessing the successes, challenges, and failures of the United Nations.

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How do nation states decide on their foreign policy? Is there a difference in the content of foreign policy between large and small states or liberal democracies and authoritarian regimes? This module examines the foreign policies of nation states and how to study them in a rapidly changing international environment. The module examines the foreign policies of different types of states from 'great powers' to smaller states, explores major events and crises in international politics and the dynamics of foreign policymaking, Specific case studies will vary from year to year, but are likely to cover issues of diplomacy, war and security, economic competition, and institutional cooperation.

It provides insight into the complex relationship between the analysis and practice of foreign policy. It does so by exploring shifting approaches to making and examining foreign policy. Case studies of foreign policy practices are examined through exploring different international actors (including states but also examining the role of specific leaders), the foreign policy environment they inhabit (internal and external, structural and institutional), and the motivations that inform state and policy makers actions and their interactions with others. The module compares and contrasts different theories, critically assessing their analytical advantages and weaknesses in applying them to 'real world' examples.

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This module aims to provide students with a critical introduction and review of China's political development from 1949 to today. Following a brief historical review of the evolution of the Chinese political system since 1949, this module is designed around two core blocks of study.

The first block looks at the principal political institutions. They include the Communist Party, the government (State Council), the legislature (National People’s Congress) and the military (People’s Liberation Army). The second block examines the socio-political issues and challenges the country is facing in its ongoing development. They range from political participation and state-society relations, the cost of economic growth to environment and public health, tensions with ethnic minorities, the issues of nationalism and the relationship with Taiwan and Hong Kong, irredentism and territorial disputes with neighbouring countries, and finally China’s grand strategy of the Belt and Road Initiative.

A theme running through various lectures of this module is to ask why post-Mao China has performed better than many other authoritarian regimes in achieving both economic growth and political stability and acquiring international influence, despite the fact that China faces numerous mounting development challenges.

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This module addresses a key question in the study of European politics and international organisations: why did a diverse group of states embark on a process that has led to the world's most extensive example of international integration? In this module you will learn and understand how the European Union has reached where it is today, how its political system works, how it makes policy, its strengths and weaknesses and how it has driven both the politics and economics of its member states and the global system at a time of both continuity and change. There has certainly never been a more challenging or interesting time to learn about the EU and its politics.

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This module provides an introduction to some of the major developments in Western political thought from the seventeenth century onwards by discussing the life, work and impact of key figures such as Nicolo Machiavelli, Thomas Hobbes, John Locke, Jean-Jacques Rousseau, Mary Wollstonecraft, JS Mill, and Karl Marx. While these thinkers will be studied mostly in terms of their respective self-understanding, the overall concern of these studies is to examine the problems which 'modernity' poses for political theory in Western societies.

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This module introduces students into the study of terrorism and political violence, and thereafter deepens their knowledge of the controversial aspects of this subject. The initial lectures will deal with definitional problems involved in the concept of "terrorism" and various theories about the causes of political violence in its different forms. With a point of departure in a chronological review tracing the origins of the phenomenon long back in history, the module will later study the emergence of political terrorism during the second half of the 19th century. This will be followed by a study of state and dissident terrorism in different parts of the world. The module will also address the relationship between religious radicalism and different forms of political violence, including “new terrorism” and possible use of weapons of mass destruction. Then, the focus of attention will be shifted to implications of various counter-terrorism strategies and “The War on Terrorism” for democracy and human rights. These issues will addressed with a special focus on methodological problems involved in the study of terrorism and political violence.

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How can we understand the Middle East? Why have states in the region experienced conflict and instability? Should the solution to violence come from outside the region, or can problems only be resolved from the inside? This module aims to answer these questions by introducing students to the societies, cultures, spaces and political systems of the Middle East and North Africa (MENA), with their diversity, histories and complexities. As such, the module will explore different themes related to MENA politics, using different states and societies from the region as case studies. It will provide students with insights into the root causes of conflicts; the persistence of authoritarian regimes; the rise of youth protest movements; tradition versus modernity; and urbanism versus periphery. The module will apply an interdisciplinary approach to the study of the region, bringing in insights and methods from politics, geography and anthropology. Furthermore, the module will take a comparative approach, placing the MENA region in a broader context and applying lessons from other parts of the world to better understand the region.

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The module examines the nature of political behaviour in Britain today. It focuses on two key issues. The first is the way that citizens participate in politics. The module explores the nature of political participation, and how this has changed in the last few decades. It also examines the characteristics of people who participate, and the factors that motivate individuals to engage in different forms of political participation. The second key issue examined is voting behaviour. The module considers how far electoral decisions are shaped by stable 'sociological' factors, and how far voters today are less closely aligned with parties and more open to the influence of particular policy messages, personalities and media coverage. Alongside this focus on the behaviour of citizens, the module also considers the activities of key intermediary organisations, such as legislators. Throughout, the module seeks to develop students’ understanding and analytical skills, by considering theories and models of political behaviour along with the way data and other evidence can be brought to bear in testing the validity of these models.

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This module aims to investigate the different roles and experiences of human beings at and in war. Following an introduction to approaches to agency in social and political theory, the course will examine the roles of combatants (both state and non-state), civilians (men, women and children), and third parties (peacekeepers, humanitarian workers, journalists, and academics). Engaging with the fluidity of each category (a human being can be a woman and a combatant at the same time and all categories are interlinked by a complex web of social, economic, and political relations), the categories will first be analyzed as a social group (examining questions such as age brackets, income brackets, education, life expectancy), then investigated in terms of their political functions and roles. Finally, the experiences of each category will be examined through testimonies (using written, audio and video material and guest speakers) in an attempt to access some degree of experiential knowledge of war and peace. Due to the sensitive nature of the material examined, the module will not be using lecture capture.

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A thread running through this module is a belief that to understand today's China we have to know how it has come to the present, as present-day China is a product of its deep imperial past and of its revolutions in the 20th century, the Republican, the Nationalist and the Communist. Before studying the 'rise' of contemporary China, we must therefore understand the decline collapse of imperial China from the mid-19th to the early 20th century. We can perceive the said rise of China as the process of regaining its rightful place in the Western-dominated international system and of mutual accommodation between China and the rest of the world.

The narrative of modern China starts from the late 16th century when China, ruled by the Ming dynasty (1368-1644), was the regional hegemon. The demise of the Sino-centric regional order began in the early 19th century. Since then, Chinese rulers, officials and intellectuals have repeatedly groped for ways to modernise their country to counter mounting pressures from the West. Seen in this perspective, this module will be primarily focused on how China adapted itself to the modernising West in order to be accepted as a full and respected member of the international society while preserving its own non-Western identity. With this, you should be able to understand towards the end of this module why China now values the respect for national sovereignty, territorial integrity and the right of all nations to freely choose their own paths to development. Also, for many students of International Relations, China’s entry and integration into the international society since the 1970s has been strikingly non-violent. A secondary focus of this module will be on how China and other key members of the world have been mutually accommodating to each other and whether China’s 'peaceful rise’ can continue.

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The course provides an overview of the broad field of international conflict analysis and resolution. Students have the opportunity to explore the motivations driving different forms of conflict, including interpersonal, group and civil violence. Students will also be exposed to a range of theories and approaches used to understand violent conflict, and a number of different methods of conflict resolution (e.g. negotiation, mediation, peacekeeping operations, and transitional justice.) The approach is interdisciplinary and juxtaposes traditional approaches used to study conflict management with new scientific studies of conflict and cooperation.

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This module introduces students to the complex set of questions surrounding religion in international politics. The module begins by exploring contending political and sociological understandings of religion at the turn of the 20th century. It looks, in particular, at the constructed nature of the categories of the 'religious' and the ‘secular’, and at the limits of the secularization thesis, which anticipated the privatization, decline and ultimately disappearance of religion in modernity. The discussion then turns to the relation between religion and secularism in Europe – with a focus on the question of European identity, multiculturalism, the relation between Europe and Islam and the numerous controversies surrounding Islam in Europe – and in the United States – with a focus on the concept of civil religion and the role of religious rhetoric and thinking in US foreign policy, particularly in the so-called ‘war on terror’. The module then explores the relation between religion and violence by looking at the role of the 16th and 17th wars of religion in the process of modern state formation and by asking whether there is a genuine connection between religion and violence. The concluding part of the module focuses on the emerging concept of the ‘postsecular’, its contending meanings, understandings and possible applications by focusing on the case of the 2011 Egyptian revolution.

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One of the most striking developments in established Western democracies has been the electoral growth of extreme right and radical right-wing political parties. In this module students will investigate the nature and rise of extreme and radical right-wing parties, while also exploring other related issues such as right-wing extremist and racially-motivated violence and/or terrorism. This module will introduce students to the academic literature that has followed a resurgence of support for the extreme right. The module will familiarise students with conceptual and theoretical debates within this literature, and introduce students to some of the associated methodological debates. Students will be encouraged to think critically about concepts, classifications, ideologies, electoral behaviour and the broader implications of the rise of these parties and social movements in areas such as public policy and social cohesion.

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This module will address the major milestones in the politics and international relations of East Asia since 1945. We will analyse the causes and significance for East Asian countries of events such as the Korean War, the Cultural Revolution, the economic take-off of both Japan and South Korea, China's economic reforms, democratisation across the region, and US-China competition.

A central theme of the module will be analysing the decisions that leaders take in order to hold onto power – from repression and liberalisation to corruption, purges, and propaganda – and how these decisions continue to influence the domestic and international politics of East Asian countries. We will explore differences in the countries’ domestic political systems to help understand major historical and contemporary policies, and the influence of economic and security considerations.

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In this module, we seek to understand the most urgent security issues in the Indo-Pacific region, and develop the knowledge and skills to provide nuanced and concise policy advice on them. We will start with an overview of the history, security, economics, and institutions in the region, and consider how to use International Relations theoretical approaches to help us understand countries' foreign and security policies. We will then analyse three key security challenges in the region in depth: the Taiwan Straits; nuclear proliferation on the Korean peninsula; and territorial disputes in the South China Sea. Students will develop skills writing policy advice on these challenges, while working towards developing their own in-depth but concise policy briefing. We will close the module by thinking about the future of politics, economics, and security in the region, and ask whether or not great-power confrontation is inevitable.

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Research methods are – together with theoretical frameworks and empirical material – one of the three main pillars of the study of politics and international relations. Politics and international relations are methodologically very diverse and apply a number of different approaches that can be summarised under the quantitative and qualitative research methodologies. The module provides a basic introduction to the use of these methods for students from a variety of educational backgrounds (no statistical knowledge is necessary). The module aims to enable students to read, interpret and critically assess arguments and data drawing on quantitative and qualitative methods in political science and international relations. Students will be introduced to the logic of empirical research in the social sciences, to basic concepts and techniques of descriptive and inferential uni-, bi- and multivariate statistics, as well as qualitative comparative studies and interpretive approaches. Students will be able to apply their methods skills to empirical evidence commonly found in policy and academic work.

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This module provides an overview of key theories, concepts and debates in the discipline of international relations: examples of such theories include liberalism, realism, international society approaches, Marxism, critical theory, post-structuralism and feminism. The theories will be introduced and evaluated in terms of their weaknesses and strengths. This will require some discussion of how theories contribute to the formation of knowledge and how they are to be 'tested' or evaluated.

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The module helps prepare students to acquire and develop the employability and transferable skills necessary to search and successfully apply for work experience and graduate opportunities in the commercial and public sector and postgraduate study.

The curriculum builds on knowledge and experience gained in related employability modules delivered at Stages 1 and 2, providing further guidance and more advanced practical exercises in application writing, CVs, careers advice, interview and assessment centre techniques, numeracy and competency tests, and psychometric evaluation. The aims here are to support students during their final year in applying for good graduate jobs and MSc degree programmes.

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This module is a one-term placement opportunity that allows you to teach aspects of your degree subject in a local school. Launched to coincide with Kent's 50th anniversary in 2015, it highlights the longstanding excellence of human and social science research and teaching at the University, and the important role the institution has in contributing to the local community.

If selected for this module you will spend approximately 6 hours in a Kent secondary school in the Spring term (this session excludes time to travel to and from the School, and preparation and debrief time with the teacher). Generally, you will begin by observing lessons taught by your designated teacher and possibly other teachers. Later you will act somewhat in the role of a teaching assistant by working with individual pupils or with a small group. You may take 'hotspots': brief sessions with the whole class where you explain a topic or talk about aspects of university life. Finally, you will progress to the role of "teacher" and will be expected to lead an entire lesson. Throughout the module you will be given guidance and support by a local convenor based in your academic school as well as the overall module convenor.

You will be required to keep a log of your activities and experiences at each session. You will also create resources to aid in the delivery of your subject area within the curriculum. Finally, you will devise a special final taught lesson in consultation with the teacher and with your local module convener. You must then implement and reflect on the lesson.

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This module develops your ability to solve economics problems and to analyse economic data using computational techniques. It will teach you to apply numerical optimisation methods to a range of economics and econometrics problems, develop an understanding of numerical and computational methods through their practical applications, and develop an ability to assess the strengths and weaknesses of different methods for different applications. The module builds upon the Level 4 modules Introduction to Object Orientated Programming (CO320), and Programming for Artificial Intelligence (Python programming) (CO359) and will further develop students' understanding of programming languages commonly used in economic analysis, including at least one of Python, R and/or Julia.

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This module applies economic theory and statistical methods to the understanding and critical assessment of economic policy. It focuses on the policy application of economic concepts and provides an introduction to material that may be studied in greater depth at Stage 3. A key aspect of this module is the relationship to contemporary policy issues.

The module introduces students to a variety of microeconomic policy issues. Alongside formal lectures, workshops and seminars are designed to develop academic research skills and the ability to communicate ideas both verbally and in writing. This focus provides opportunities to develop a range of highly transferable skills and to develop as autonomous learners.

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The module provides a starting point for understanding financial markets. It attempts to link models of money, banking and finance into one generic, or foundation, view and provides insight into what determines the set of equilibrium prices required to provide an appropriate level of savings in an economy to finance the expected level of expected activity. It considers how financial and economic innovations have evolved over time, and explores why and how it seems to be that when finance fails, so does the modern market economy.

Important considerations within the module include:

• How can we analyse the appearance of money in an economy?

• What is the link between money and finance?

• What explains bank runs?

• Can we explain the occurrence of financial crises?

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This module introduces students to the skills of economic reasoning and argument by exposing them to critical debates within the discipline. It is designed for students who have completed Stage 1 Economics.

The module draws on current and past controversies to give students a critical insight into theoretical and empirical differences of opinion and approach to economics in the real world. The curriculum provides an insight into the academic and professional development of the discipline, and provides opportunities to develop a range of highly transferable skills. It also lays the foundations to many of the skills required for modules taught at Stage 3.

Four controversies will be covered each drawn from a range of topics pertinent to the discipline and relevant sub-disciplines. Students must study two controversies.

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Development Economics is a sub-field of economics that focuses on the unique problems of poor countries. In the course we will use economic analysis to understand the structure of poor economies and the behaviour of individuals within them. The goal is to better understand why the world looks the way that it does so that one can make more informed opinions and decisions about policies meant to improve global welfare. The topics considered in the module will include:

• The development gap in the world economy and the measurement of poverty

• Characteristics of underdevelopment and structural change

• Models of the growth and development process

• The role of agriculture and surplus labour in the development process

• Industrialisation

• Dualism and vicious circles of poverty

• Trade and Development

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This module introduces students to applied econometrics using a general-purpose statistical software package (e.g., Stata or R), which is suitable for those intending to undertake postgraduate training in economics and/or becoming professional economists.

The module assumes a basic knowledge of statistics and quantitative methods and is designed for students who have followed Stage 1 modules in mathematics and statistics and who have taken relevant Stage 2 modules in econometrics.

What distinguishes this module is the adoption of the modern learning-by-doing approach to teaching econometrics, which emphasises the application of econometrics to real world problems. The focus is on understanding the theoretical aspects that are critical in applied work and the ability to correctly interpret empirical results.

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This module presents a systematic and operational approach to the econometric modelling of economic time series, which gives an understanding of the techniques in practical, appropriate, analytical and rigorous manner. Econometric analysis is a core skill in modern economics.

The module gives an introduction to univariate time series analysis, dynamic econometric modelling and multiple time series, linking theory to empirical studies of the macroeconomy.

All topics are illustrated with a range of theoretical and applied exercises, which will be discussed in seminars and computer classes. As such, the module emphasises the development of practical skills in the use of software for empirical research, and introduces you to the research methods used by macroeconomists in academia, government departments, think tanks and financial institutions. It also helps you to prepare for the quantitative requirements of a master programme in economics.

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The market for labour is the crucial mechanism that determines the distribution of income, work and opportunities. Macro factors such as globalisation, (im)migration, technological change and government policy will affect and be affected by the structure of labour markets. Rather than trying to cover the entirety of this very broad subject, the aim of this course is to focus on a few areas of topical interest and importance. We will examine the issues like the following:

1 The relationship between unemployment and wages

2 The impact of immigration on the resources of the lower skilled

3 The differences in pay and opportunities between men and women

4 Government policy towards skills and education

5 Executive pay

Throughout we attempt to integrate theoretical issues, empirical evidence and questions of policy, drawing on research covering a range of OECD countries.

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The module provides an introduction to game theory and its use by economists as a professional tool for understanding and analysing economic decision making under uncertainty. The module introduces students to topical and important research areas of microeconomic analysis, and develops their skills in setting up and solving games that arise in business and economics.

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The module introduces students to the field of Industrial Economics and studies why and how firms and industries behave and interact with each other. Understanding firms' behaviour is relevant not only to the firms but also to the governments that design industrial policies in order to favour consumers without decreasing firms' efficiency.

The module is designed for students who have taken intermediate microeconomics and addresses issues that are present in everyday news: anti-competitive practices, the effect of market power on consumer welfare, incentives for product innovation, and the private and public effects of mergers.

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The module introduces students to the theoretical underpinnings that constitute international finance and the nature and extent of monetary and financial relations between countries.

The module introduces basic concepts of international macroeconomics such as the balance of payments and exchange rates, and arbitrage conditions. It then proceeds to analyse the impact of opening up the economy on the alternative macroeconomic policies available. The main factors that determine exchange rates between currencies, and the power of different models are also considered. Finally, the module explores 'hot topics' in international finance including the benefits and drawbacks of fixed and floating exchange rates, the concept of a speculative attack, current account imbalances from an inter-temporal perspective, and how world macroeconomic imbalances drove the 2008/09 international financial crisis and recent sovereign debt crisis in Europe.

The module has both a theoretical and an applied emphasis in order to apply available theories into the real problems of the world economy. It does not analyse the detailed workings of international financial markets or questions related to firm financial management in international capital markets but students interested in these aspects can acquire basic foundations that are fundamental in understanding the context in which firms and governments work.

The topics covered in the module include:

• Open economy macroeconomics and policy.

• Exchange rates determination theory and empirics.

• Microfounded models of the current account.

• International financial flows.

• International indebtedness.

• International financial crises

• International monetary arrangements.

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This module provides students with an in-depth understanding of current issues and theoretical debates in international trade, together with their policy implications. It also provides the knowledge and skills necessary for interpreting related studies of countries at different levels of development.

International trade is a key issue on the world agenda and has considerable effects on countries' economies. The effects occur at the micro level of firms and households as well as at the macro level, where they are the subjects of government policy debates. International Trade takes advantage of the tools of economic analysis, which are common to other areas in economics, to study the issues raised by the economic interaction between sovereign states.

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This module introduces students to monetary and macroeconomic issues from a theoretical perspective. The following topics are considered:

• Structural macro and monetary modelling

• Reduced form macro and monetary modelling

• Short-run analysis of the aggregate economy

• Long-run analysis of the aggregate economy

• Policy interventions.

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The module focuses on the role of the government in the economy. It uses the tools of microeconomics and empirical analysis to study the impact of government policies on individual behaviour and the distribution of resources in the economy. The module explores the economic arguments for and against government intervention in the economy, also introducing insights from behavioural economics into the analysis and design of public policies.

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This module provides an overview of the main instruments in financial markets, the motivation for trade in these assets and the pricing of these assets. Specifically, we show how the economics of uncertainty motivates trade in a wide range of financial assets. This helps us determine how the risk and maturity of different assets affects the demand for those assets.

First, the module introduces the key principles of asset pricing: discounting, diversification, arbitrage and hedging. Second, the module introduces and motivates the use of debt, equity and derivative instruments in financial markets. Third, the module applies the key principles of asset pricing to help understand the behaviour of prices across these asset classes. While different classes of assets expose their holders to different types of risks, the key principles of asset pricing are common to all asset classes. This concept is formalised by the Fundamental Theorem of Asset Pricing.

While focusing on financial applications, the module does speak more widely to methodological challenges encountered when testing economic theories against data. These challenges are particularly relevant in financial economics. While the literature has developed a range of innovative techniques to more effectively test competing theories against the data, the answers to a number of key questions remain contested.

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The module develops skills in asset pricing and an understanding of the theoretical basis of the theory behind it. The module requires knowledge of some mathematical techniques but stresses practical training in asset pricing with a focus on the intuitions and heuristics behind theorems and formulae, rather than their rigorous derivations and semantic definitions

There are three key topics; (i) investors' optimisation, (ii) discrete time models and (iii) option Greeks and option strategies. For (i), the module first introduces the basic financial economics, and, based on it, we establish the basis of the risk-neutral probability. For (ii), the module discusses how to construct the tree model based on the historical price data, and shows that the model can be used to find the fair prices of a wide range of financial derivatives. For (iii), the module investigates the Black-Scholes-Merton (BSM) formula, and then how to use it to find the optimal hedge ratio for delta hedging. In this respect, the module also discusses how to use the return correlations to find the optimal hedge ratio.

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The module provides an alternative to students carrying out an economics research project in the dissertation module. Some students lack the necessary analytical, quantitative and research skills necessary for a piece of original research. This module will give such students the opportunity to investigate an area of economics in depth by critically reviewing the literature on a chosen subject.

Students will be given a set of questions with readings. They can also construct their own question so long as it is approved. Each student would write a different essay. Examples of questions are: what evidence exists on the success(es) of micro lending schemes? Can active labour market policies reduce long term unemployment? Can economists explain voting behaviour? Students are taught about what is required for an extended critical review of the literature and advised about what should be contained in an essay on their topic. They are also advised about how to present a poster session.

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This module covers a variety of growth issues from both empirical and theoretical views. The first part of the course deals with basic concepts of economic growth, including how to measure growth and the core theories of economic growth. The second part deals with productivity; how to measure productivity and analyse different sources of productivity growth. The third part deals with economic fundamentals, including the relationship between government policies, income inequality, and growth.

The aim of the module is to teach the basic principles of economic growth in order to answer such questions as:

• what are the determinants of growth?

• how can we improve productivity?

• what kind of role does the government play on growth?

• why are there differences in the level of income among countries?

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The quantitative estimation and evaluation of economic models is an essential feature of the study and application of economics. This module provides an introduction to econometric theory and the application of econometric techniques to economic models and data. This is achieved by explaining key economic and econometric issues using applications of econometrics that quantify and evaluate economic theory and which provide an empirical evaluation of economic behaviour and the assessment of economic policy.

The module provides both an analytical and practical introduction to econometric theory, equipping students with the analytical tools to carry out applied econometric work and to explore more advanced areas of econometric theory at later stages of their chosen degree programme. The practice and application of econometrics is achieved using both Microsoft Excel and specialist econometric software (e.g. Eviews &/or Stata).

The topics considered in the module include:

• Models and data; ordinary least squares (OLS), properties of OLS, simple and multiple linear regression, inference, confidence intervals, hypothesis tests, multicollinearity, heteroscedasticity, autocorrelation, dummy variables, functional form, linear restrictions, diagnostic testing and basic panel data.

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The module provides an analytical introduction to time-series econometrics and the challenges that present themselves with the analysis of time-series economic data. Traditional econometric techniques such as Ordinary Least Squares (OLS) are poorly suited to the estimation of economic models or data which exhibit non-stationary processes. This module provides an introduction to econometric methods that are suitable for stationary and non-stationary time-series analyses.

The module is both analytical and practitioner based providing students with the knowledge, understanding, application and interpretation of time-series techniques using specialist econometric software. The module equips students with the analytical tools to carry out advanced time-series econometrics work at a later stage of their degree programme.

The topics considered in the module include:

• Stationary and non-stationary data; trend- and difference-stationary processes, stationary autoregressive models, multivariate stationary models, spurious regression, cointegration, ADF tests, forecasting.

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The module will introduce students to the topic of political economy using microeconomic analytical tools. In particular, the module will provide students with an overview of microeconomic theories and empirical methods that have been used to bring new insights to issues related to political economy. The module will also explore how these issues relate to themes in development, public and environmental economics. The following topics will be covered in the module.

1. Electoral rules, voting and their economic implications

2. Political Reforms and their Economic Impacts

3. Institutions and Development

4. Ethnic and Civil Conflict

5. Climate Agreements

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This module covers a variety of the mathematical methods and their application to economic theory. The module starts off with a review and extension of stage 1 calculus, including integration. We examine production functions, returns to scale and their relation to firm profits. The module then covers dynamic systems where students learn to solve second-order difference equations, and, in so doing, learn about complex numbers. We use this analysis to generate insights about monetary policy. Matrix algebra is explored and used to analyse multiple equation dynamic systems. We then cover more optimisation theory, using Lagrangians to solve problems with equality and inequality constraints. Building on matrix algebra, we use Hessians to examine when we have found a genuinely desired optimum. Some of the further economic ideas we analyse are efficiency wages and monopsony power in the labour market, the duality theory of cost minimisation, and consumer theory, including Roy's identity and Shephard's Lemma.

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The aim of the module is to introduce the students to the evolution of the financial crises from a historical perspective. Since financial crises are infrequent (though often occurring) events, a long-run perspective is necessary to understand their causes and consequences. This module will look at financial crises from the Tulip mania in 1636 to the financial crisis of 2008, and combine theoretical approaches to understanding financial crises with critical discussion of historical episodes.

The module will cover the following topics:

1. Financial crises in historical perspective: long-run facts

2. Theories of financial crises

3. The severity of financial crises in historical perspective

4. Financial crises in the 17th and 18th Centuries

5. Early 19th century financial crises

6. The 1890s

7. The banking panic of 1907 and the emergence of Fed

8. The Great Depression I – Florida housing bubble, FED and 1931 banking crises

9. The Great Depression II – US banking crisis

10. The Great Depression III – Germany, Eastern European crisis, sterling crisis

11. Financial crises in the 1990s

12. The Great Recessions – housing bubble, contagion, banking crisis.

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This module applies various aspects of environmental economic theory in combination with mathematical and statistical methods to provide students with an understanding of the link between economic theory and policy application. It introduces students to fundamental key skills used by environmental economists in the application of economics to real world environmental issues.

The main focus will be on how economic theory is applied to real world environmental issues and how this can be demonstrated using EXCEL. Therefore, it continues the development of students' use of information technology within a structured environment. This module will provide students with an enhanced understanding of how economic theory can be translated into practical policy advice.

The module introduces students to a variety of environmental economic practical issues. Alongside formal lectures, computer workshops and seminars are designed to develop academic research skills and the ability to communicate ideas both verbally and in writing.

Examples of topics the module may cover include:

• Pollution control instruments – will consider taxes and permits using market simulation and potentially the development of equilibrium displacement models;

• Non-market evaluation – will consider stated and revealed preference approaches to non-market valuation, consider experimental design, survey design and delivery and data analysis using linear regression and binary choice models;

• Renewable resource management – will consider fisheries and/or forestry management as a dynamic programming problem using the EXCEL solver; and

• Non-renewable resource management – will consider oil reserve management as a dynamic programming problem using the EXCEL solver.

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This module explores the origins, evolution and role of the United Nations (UN) in world politics. The aim is to understand how and why states and other actors participate in the UN. The module further explores the extent to which the United Nations is able to achieve its stated goals of maintaining peace and security, achieving cooperation to solve key international problems, and promoting respect for human rights. The module examines the work of key UN organs, agencies, and member states in a variety of issue areas, with the aim of critically assessing the successes, challenges, and failures of the United Nations.

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How do nation states decide on their foreign policy? Is there a difference in the content of foreign policy between large and small states or liberal democracies and authoritarian regimes? This module examines the foreign policies of nation states and how to study them in a rapidly changing international environment. The module examines the foreign policies of different types of states from 'great powers' to smaller states, explores major events and crises in international politics and the dynamics of foreign policymaking, Specific case studies will vary from year to year, but are likely to cover issues of diplomacy, war and security, economic competition, and institutional cooperation.

It provides insight into the complex relationship between the analysis and practice of foreign policy. It does so by exploring shifting approaches to making and examining foreign policy. Case studies of foreign policy practices are examined through exploring different international actors (including states but also examining the role of specific leaders), the foreign policy environment they inhabit (internal and external, structural and institutional), and the motivations that inform state and policy makers actions and their interactions with others. The module compares and contrasts different theories, critically assessing their analytical advantages and weaknesses in applying them to 'real world' examples.

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This module aims to provide students with a critical introduction and review of China's political development from 1949 to today. Following a brief historical review of the evolution of the Chinese political system since 1949, this module is designed around two core blocks of study.

The first block looks at the principal political institutions. They include the Communist Party, the government (State Council), the legislature (National People’s Congress) and the military (People’s Liberation Army). The second block examines the socio-political issues and challenges the country is facing in its ongoing development. They range from political participation and state-society relations, the cost of economic growth to environment and public health, tensions with ethnic minorities, the issues of nationalism and the relationship with Taiwan and Hong Kong, irredentism and territorial disputes with neighbouring countries, and finally China’s grand strategy of the Belt and Road Initiative.

A theme running through various lectures of this module is to ask why post-Mao China has performed better than many other authoritarian regimes in achieving both economic growth and political stability and acquiring international influence, despite the fact that China faces numerous mounting development challenges.

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This module addresses a key question in the study of European politics and international organisations: why did a diverse group of states embark on a process that has led to the world's most extensive example of international integration? In this module you will learn and understand how the European Union has reached where it is today, how its political system works, how it makes policy, its strengths and weaknesses and how it has driven both the politics and economics of its member states and the global system at a time of both continuity and change. There has certainly never been a more challenging or interesting time to learn about the EU and its politics.

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PO617 offers a comprehensive introduction to the politics and national government of the United States. The course is divided into four inter-linked parts. In Part I students will be introduced to the 'foundations' of the US political system. Students will examine the history of the republic, its economy and society, the values and beliefs American people subscribe to, and the basic structure of the political system. Part I therefore provides essential knowledge upon which the rest of the course builds. In Part II students will examine those ‘intermediate’ institutions (interest groups, parties, elections and the media) that link people to their government. We will look at why Americans vote the way they do; at the role US parties play and their relevance to Americans’ lives; at whether interest groups have usurped the role of parties; and at whether the media exacerbate cynicism about politicians and the wider political system. In Part III students focus on the three institutions of the federal government: the Congress, Presidency and Supreme Court. We will examine both the institution that is Congress and the individuals that are elected to it and ask whether they have compatible goals or not, and whether Congress has usurped some of the roles and power of the presidency. Similarly, we will examine the extent to which the Presidency is an institution in decline or resurgent in the new century. Finally, we will examine the political and legal role that the Supreme Court plays in the modern US political system. In the fourth and final part of the course, students focus on the policymaking process in the US. We will look at how and why policy is made, and examine the extent to which the policy solutions produced by the political system are optimal.

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This module provides an introduction to some of the major developments in Western political thought from the seventeenth century onwards by discussing the life, work and impact of key figures such as Nicolo Machiavelli, Thomas Hobbes, John Locke, Jean-Jacques Rousseau, Mary Wollstonecraft, JS Mill, and Karl Marx. While these thinkers will be studied mostly in terms of their respective self-understanding, the overall concern of these studies is to examine the problems which 'modernity' poses for political theory in Western societies.

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This module introduces students into the study of terrorism and political violence, and thereafter deepens their knowledge of the controversial aspects of this subject. The initial lectures will deal with definitional problems involved in the concept of "terrorism" and various theories about the causes of political violence in its different forms. With a point of departure in a chronological review tracing the origins of the phenomenon long back in history, the module will later study the emergence of political terrorism during the second half of the 19th century. This will be followed by a study of state and dissident terrorism in different parts of the world. The module will also address the relationship between religious radicalism and different forms of political violence, including “new terrorism” and possible use of weapons of mass destruction. Then, the focus of attention will be shifted to implications of various counter-terrorism strategies and “The War on Terrorism” for democracy and human rights. These issues will addressed with a special focus on methodological problems involved in the study of terrorism and political violence.

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How can we understand the Middle East? Why have states in the region experienced conflict and instability? Should the solution to violence come from outside the region, or can problems only be resolved from the inside? This module aims to answer these questions by introducing students to the societies, cultures, spaces and political systems of the Middle East and North Africa (MENA), with their diversity, histories and complexities. As such, the module will explore different themes related to MENA politics, using different states and societies from the region as case studies. It will provide students with insights into the root causes of conflicts; the persistence of authoritarian regimes; the rise of youth protest movements; tradition versus modernity; and urbanism versus periphery. The module will apply an interdisciplinary approach to the study of the region, bringing in insights and methods from politics, geography and anthropology. Furthermore, the module will take a comparative approach, placing the MENA region in a broader context and applying lessons from other parts of the world to better understand the region.

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The module examines the nature of political behaviour in Britain today. It focuses on two key issues. The first is the way that citizens participate in politics. The module explores the nature of political participation, and how this has changed in the last few decades. It also examines the characteristics of people who participate, and the factors that motivate individuals to engage in different forms of political participation. The second key issue examined is voting behaviour. The module considers how far electoral decisions are shaped by stable 'sociological' factors, and how far voters today are less closely aligned with parties and more open to the influence of particular policy messages, personalities and media coverage. Alongside this focus on the behaviour of citizens, the module also considers the activities of key intermediary organisations, such as legislators. Throughout, the module seeks to develop students’ understanding and analytical skills, by considering theories and models of political behaviour along with the way data and other evidence can be brought to bear in testing the validity of these models.

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This module aims to investigate the different roles and experiences of human beings at and in war. Following an introduction to approaches to agency in social and political theory, the course will examine the roles of combatants (both state and non-state), civilians (men, women and children), and third parties (peacekeepers, humanitarian workers, journalists, and academics). Engaging with the fluidity of each category (a human being can be a woman and a combatant at the same time and all categories are interlinked by a complex web of social, economic, and political relations), the categories will first be analyzed as a social group (examining questions such as age brackets, income brackets, education, life expectancy), then investigated in terms of their political functions and roles. Finally, the experiences of each category will be examined through testimonies (using written, audio and video material and guest speakers) in an attempt to access some degree of experiential knowledge of war and peace. Due to the sensitive nature of the material examined, the module will not be using lecture capture.

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A thread running through this module is a belief that to understand today's China we have to know how it has come to the present, as present-day China is a product of its deep imperial past and of its revolutions in the 20th century, the Republican, the Nationalist and the Communist. Before studying the 'rise' of contemporary China, we must therefore understand the decline collapse of imperial China from the mid-19th to the early 20th century. We can perceive the said rise of China as the process of regaining its rightful place in the Western-dominated international system and of mutual accommodation between China and the rest of the world.

The narrative of modern China starts from the late 16th century when China, ruled by the Ming dynasty (1368-1644), was the regional hegemon. The demise of the Sino-centric regional order began in the early 19th century. Since then, Chinese rulers, officials and intellectuals have repeatedly groped for ways to modernise their country to counter mounting pressures from the West. Seen in this perspective, this module will be primarily focused on how China adapted itself to the modernising West in order to be accepted as a full and respected member of the international society while preserving its own non-Western identity. With this, you should be able to understand towards the end of this module why China now values the respect for national sovereignty, territorial integrity and the right of all nations to freely choose their own paths to development. Also, for many students of International Relations, China’s entry and integration into the international society since the 1970s has been strikingly non-violent. A secondary focus of this module will be on how China and other key members of the world have been mutually accommodating to each other and whether China’s 'peaceful rise’ can continue.

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The course provides an overview of the broad field of international conflict analysis and resolution. Students have the opportunity to explore the motivations driving different forms of conflict, including interpersonal, group and civil violence. Students will also be exposed to a range of theories and approaches used to understand violent conflict, and a number of different methods of conflict resolution (e.g. negotiation, mediation, peacekeeping operations, and transitional justice.) The approach is interdisciplinary and juxtaposes traditional approaches used to study conflict management with new scientific studies of conflict and cooperation.

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This module introduces students to the complex set of questions surrounding religion in international politics. The module begins by exploring contending political and sociological understandings of religion at the turn of the 20th century. It looks, in particular, at the constructed nature of the categories of the 'religious' and the ‘secular’, and at the limits of the secularization thesis, which anticipated the privatization, decline and ultimately disappearance of religion in modernity. The discussion then turns to the relation between religion and secularism in Europe – with a focus on the question of European identity, multiculturalism, the relation between Europe and Islam and the numerous controversies surrounding Islam in Europe – and in the United States – with a focus on the concept of civil religion and the role of religious rhetoric and thinking in US foreign policy, particularly in the so-called ‘war on terror’. The module then explores the relation between religion and violence by looking at the role of the 16th and 17th wars of religion in the process of modern state formation and by asking whether there is a genuine connection between religion and violence. The concluding part of the module focuses on the emerging concept of the ‘postsecular’, its contending meanings, understandings and possible applications by focusing on the case of the 2011 Egyptian revolution.

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One of the most striking developments in established Western democracies has been the electoral growth of extreme right and radical right-wing political parties. In this module students will investigate the nature and rise of extreme and radical right-wing parties, while also exploring other related issues such as right-wing extremist and racially-motivated violence and/or terrorism. This module will introduce students to the academic literature that has followed a resurgence of support for the extreme right. The module will familiarise students with conceptual and theoretical debates within this literature, and introduce students to some of the associated methodological debates. Students will be encouraged to think critically about concepts, classifications, ideologies, electoral behaviour and the broader implications of the rise of these parties and social movements in areas such as public policy and social cohesion.

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This module prepares students both to think about the ways in which the landscapes are evolving and being shaped by contemporary developments in technical, scientific, and theoretical fields; and to think about how they want to take part in these developments in their own lives, through professional activity or further study. It will prepare students to think critically about the opportunities and dangers that come with the future, notably through the changes taking place in production techniques (through three-dimensional printing), ecological change and planning, scientific advancements and their impact on the humanities and social sciences (such as quantum theory's challenge to historical studies). By building on bodies of work that have already discussed the potential impact of new technologies and scientific innovations on our understanding of the human, this module will demand intellectual reflection on the potential for change and transformation, with reference to past events and how transformation has occurred to this day. In additional, the module will provide practical guidance on how to think about the student’s own future, whether professionally or for further studies. It will guide students through the possibilities open to them, and give them practical skills to secure an interview and present themselves successfully.

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This module will address the major milestones in the politics and international relations of East Asia since 1945. We will analyse the causes and significance for East Asian countries of events such as the Korean War, the Cultural Revolution, the economic take-off of both Japan and South Korea, China's economic reforms, democratisation across the region, and US-China competition.

A central theme of the module will be analysing the decisions that leaders take in order to hold onto power – from repression and liberalisation to corruption, purges, and propaganda – and how these decisions continue to influence the domestic and international politics of East Asian countries. We will explore differences in the countries’ domestic political systems to help understand major historical and contemporary policies, and the influence of economic and security considerations.

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In this module, we seek to understand the most urgent security issues in the Indo-Pacific region, and develop the knowledge and skills to provide nuanced and concise policy advice on them. We will start with an overview of the history, security, economics, and institutions in the region, and consider how to use International Relations theoretical approaches to help us understand countries' foreign and security policies. We will then analyse three key security challenges in the region in depth: the Taiwan Straits; nuclear proliferation on the Korean peninsula; and territorial disputes in the South China Sea. Students will develop skills writing policy advice on these challenges, while working towards developing their own in-depth but concise policy briefing. We will close the module by thinking about the future of politics, economics, and security in the region, and ask whether or not great-power confrontation is inevitable.

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POLI6880 allows students to do independent, original research under supervision on a political science, or liberal arts topic close to their specialist interests. The dissertation module gives them the opportunity to further these interests and acquire a wide range of study and research skills in the process. All dissertation topics have to be approved by the module convenor as well as by an academic supervisor. The module takes students through the entire process of writing a dissertation (8,000 words long): from the original 'problem' to a suitable research ‘question’, to choosing a method, to designing the research, to conducting the research; from taking notes to drafting the dissertation, to revising and writing the dissertation, and finally to submitting the dissertation. Lectures, supervision and a conference help students along the way. The curriculum includes structured opportunities for students to discuss their research ideas with each other as well as mock panel presentations in preparation for the student conference.

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The main title can be read in two ways. On the one hand, it is an appeal to reflect on the conditions of our subjectivity. On the other hand, it can be read as the expression of a judgement upon a subject's ability to act/speak/feel etc. In this module, both of these aspects will be explored: 'what are the conditions of our identity, and how do these relate to differences between us?’, and ‘what is the nature of judgement and when, if ever, is it legitimate to judge others?’. This will then form the basis for a third part of the module which will consider the extent to which reflection on oneself and the judgement of others are related or not. This nexus of issues is at the heart of contemporary debates about identity politics and the primary literature for the module will draw from these debates. Equally importantly, however, is that these contemporary debates speak directly to concepts and theories first developed within the canon of critical work within modern European philosophy. The module, therefore, will explore contemporary debates with reference to this philosophical background to assess the ways in which the critical tradition can inform the debates as well as considering the ways in which the contemporary debates can help redefine what we understand by the critical tradition.

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This module provides an overview of the degree to which cyberspace continues to revolutionise the operations of both state and non-state actors, and the challenges of governing this 'fifth sphere' of power projection. Whilst this module is not entrenched in International Relations or Security Studies theory, students will have the opportunity to apply both traditional and non-traditional approaches to the politics of cyberspace. Key themes include: 21st century technology, cyber warfare, espionage, surveillance, deterrence theory, cyberterrorism, and representation of threatening cyber-entities. Students will develop a toolkit to critique the existing state and NGO-based governance regime for cyberspace, and will convey arguments both for and against a ‘Geneva Convention’ for cyberspace.

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The aim of the module is offer an understanding of nationalism as a political phenomenon, approached from different perspectives and appreciated in its manifestations across time and space. The module first introduces and discusses the concepts of nations and nationalism and their distinctions from related concepts such as state, ethnic group, region etc. It then charts the emergence of nationalism, its success in becoming the dominant principle of political organisation, and its diffusion around the world. Subsequently, it engages with the main theories seeking to account for this process, discussing their respective strengths and weaknesses. It then explores the tensions between state and regional nationalism and some of the theories put forward to explain the latter. In a further step, it discusses some of the key aspects of nationalism, such as nation-building, national identity, nationalism and state structures, nationalism and secession, and the challenge of supra-national integration. It concludes by discussing some of the key normative questions raised by nationalism and assessing the likely trajectory of nationalism in the foreseeable future. By so doing, the module offers an analysis of the past, present, and future of nationalism and its significance in contemporary politics.

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