Published: 9th May 2014
A MASTERS degree in Economics shaped by the lessons of the financial crises has been launched to help students learn about the post-crash world.
The new MSc in Applied Economics aims to equip postgraduates with traditional theory but also post-crises economics knowledge to prepare them for employment as advanced analysts and professional economists.
Students will become skilled in industry-standard software and analytical tools, drawing on MMU’s experience in training senior civil servants at HMRC in fiscal policy design and analysis, and the University’s focus on career-ready graduates.
The course will probe the banking crises and post-crash economic landscape, focusing on micro and macroeconomics applied to real-life scenarios - and the cutting-edge field of Behavioural Economics informed by the University’s ongoing research into the physiological indicators of bankers’ behaviour.
Richard Whittle, Senior Lecturer in Economics, said: “The programme provides a post-crisis postgraduate economics education, with a focus on the human aspect. This is a significant shift away from outdated models to those in keeping with reality and an understanding of the contemporary web-based economy.
“The course design draws heavily from the lessons learned from the recent economic crisis and aims to provide students with a degree in economics that is focused on today.
“Students will gain valuable practical experience with policy analysis, scenario modelling, data sourcing and move away from the traditional economic models - criticised as being too far removed from reality - to contemporary models much more in keeping with the modern economy.”
Topics include: an overview of the (post-crisis) global economy; an investigation into financialisation and its macro impacts; an analysis of growth and environmental sustainability; fiscal policy - austerity debate and after; the usefulness and role of macro models/data; international economic institutions; financial reregulation; macroprudential and monetary policy from a post-crisis perspective.
The role of the market and the web-based economy will also be studied.
Richard added: “The demand for economists trained in real-world applied economics is high and the options are varied, from traditional economist roles in government to analyst positions in banking and finance.
“The Behavioural Economics component of the course has opened options and opportunities for previous students in further research, economic consultancy and regulation, to name a few.”
The University also offers an MSc in Economic and Financial Analysis.