MSc Economics

To provide students with practical experience of applied development research.

Provisional

Background: It is assumed that the students have the necessary background as far as the execution of the estimation stage is concerned, based on the quantitative methods courses they have taken in the first semester. However, supporting lectures will be given on aspects of estimation and the interpretation of results. In addition, the tutorials will cover the use of the STATA estimation package.

Supporting Lectures: A set of supporting lectures will be delivered in the first half of the semester.

The following topics will be covered:

Lecture 1   On Preparing the ADEP and examples of projects: Providing a set of guidelines on how to carry out applied work. Outlining the way of carrying out the projects and of testing hypothesis.  (Dr Yinfang Zhang, GDI, YZ).)

Lecture 2   Highlighting data problems relevant to developing countries and ways of tackling them  & Examples of Projects (YZ)

Lecture 3   Review of Ordinary Least Squares (OLS) and Specification Tests using STATA (Dr Katsushi Imai, Economics, KI)

Lecture 4   Selected Topics on Cross-Sectional Econometrics (Instrumental Variable) and an Introduction to Static Panel Data Models (KI)

Lecture 5   Panel-Data Models (An application of Static Panel Models)

Lecture 6    Review of time-series econometrics (YZ)

Lecture 7    Introduction to the Dynamic Panel Model with a review on how to carry out your project based on the actual project based on cross-section and panel data (KI)

Individual supervisions: Most students can expect to need some personal supervisory support. Please consult the lecturers.

 
Data Sources: The course has the World Bank Development Indicators database. Data on particular countries can be downloaded. In addition, there are an extremely large number of databases available within the university, both on-line and in the library. Those wishing to construct their own database (for which extra credit will be given) may find following data sources useful: (All development students should be familiar with these). See the lecture note 3 for more details.  

International Financial Statistics, International Monetary Fund  
Balance of Payments Statistics, International Monetary Fund  
Government Finance Statistics, International Monetary Fund  
World Development Report, The Word Bank  
World Development Indicators, The World Bank  
Global Economic Prospects and the Developing Countries, The World Bank  
Geographical Distribution of Financial Flows to Aid Recipients, OECD  
Development Co-operation Report, OECD  
Private and Public Investment in LDCs, IFC, The World Bank

Lectures and Tutorials

Proposal – 500-1,000 words. To include project title, key references, hypotheses, proposed data sources, preliminary analyses of the data or key variables (or a detailed summary of proposed data), and econometric specification/models (10%).

Final Report - 3,000 words (for text and footnotes, not including tables, graphs or appendices) (90%).