MA Economics with Public Policy

Program Overview

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Are you fascinated by both economic and political processes behind public policy decision-making? Do you wish to develop a critical understanding of government processes and their results? Would you like to combine your interests in economics and politics? In our MA Economics with Public Policy, you’ll build an in-depth understanding of the key areas of economics and all aspects of public policy through studying topics such as: the foundations of public policy, microeconomics and econometrics methods and evaluating public policy. You’ll also have the option to explore topics in public policy related to core economics issues, such as policy surrounding financial markets. Through studying MA Economics and Public Policy, you’ll be equipped with an indispensable skillset in critical thinking, communication and argument development and analytics, which are highly sought after by employers today. You will work with experts from within our Department of Economics. We are 4th in UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021). In addition to our Department of Government, who are 6th in UK for research power in politics and international studies (Times Higher Education research power measure, Research Excellence Framework 2021). Why we're great.

• We connect our research with our teaching so what you learn about is relevant today.
• Benefit from academic expertise from both the Department of Economics and Department of Government.
• We are 4th in UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021).

Our expert staff

You’ll learn from and contribute to world-leading research in our Department of Economics and Department of Government. Our economic researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us, whilst the Department of Government boasts some of the biggest names in their field of work, giving you unparalleled access to some of the best minds in politics.

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Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:

• Extensive software for quantitative analysis is available in all computer labs across the university
• Work with researchers to learn how to conduct experiments from start to finish, as a lab assistant in ESSEXLab, our state-of-the-art social science experimental lab
• Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

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Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study. Alternatively, our MA Economics with Public Policy will help you develop key employability skills which will make you attractive within both public and private sector roles, including analytical awareness, critical thinking, research and communication skills. Our recent Master’s level Economics graduates have gone on to work for a range of high-profile organisations like the Bank of England and the International Monetary Fund. We also work with the university’s Student Development Team to help you find out about further work experience, internships, placements, and voluntary opportunities.

Program Outline

Course structure

We offer a flexible course structure with a mixture of core/compulsory modules, and optional modules chosen from lists. Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The course content is therefore reviewed on an annual basis to ensure our courses remain up-to-date so modules listed are subject to change. We understand that deciding where and what to study is a very important decision for you. We’ll make all reasonable efforts to provide you with the courses, services and facilities as described on our website. However, if we need to make material changes, for example due to significant disruption, or in response to COVID-19, we’ll let our applicants and students know as soon as possible.

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Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose. Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

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Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits. In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available. Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code . For example, the module code HR100-4-FY means:

HR	100	4	FY
The department or school the module will be taught by. In this example, the module would be taught by the Department of History.	The module number.	The UK academic level of the module. A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course. A standard postgraduate taught course will comprise of level 7 modules. A postgraduate research degree is a level 8 qualification.	The term the module will be taught in. AU : Autumn term SP : Spring term SU : Summer term FY : Full year AP : Autumn and Spring terms PS: Spring and Summer terms AS: Autumn and Summer terms

Year 1 What interests you? Undertake a research project of your choosing, studying a specific economic issue or set of problems in depth, with supervision from our world-leading academic staff. Gain experience of original and independent work, making use of and building on skills that you have acquired during your Masters. View Dissertation on our Module Directory Microeconomics studies the economic behaviour of individual economic decision makers such as consumers, workers, firms, or managers. You will be looking at decision-making and markets when all agents have perfect information about goods and prices and individual agents cannot affect prices through their own actions. Later in the module you will turn to the concept of market equilibrium with more detailed understanding of demand and supply in order to derive properties of market behaviour. View Introductory Microeconomics on our Module Directory This module provides an introduction to the econometric methods commonly used to analyse economic data and the application of these methods. The focus of the module is on linear regression and the ordinary least squares (OLS) estimation procedure. This is introduced after a review of basic probability, random variables, simple descriptive statistics and the concept of the null hypothesis. View Introductory Econometrics on our Module Directory This module equips you with the tools commonly used in economics to critically assess the efficacy of current policies and the effects of policy changes. You will put theoretical knowledge into practice, closely reviewing canonical applications of these tools in the economics literature as well as performing evaluations yourself. View Public Policy Evaluation on our Module Directory This module introduces you to key concepts and theoretical approaches to studying and analysing public policy as well as applying these concepts and approaches to real-world public policy areas. This includes the economic, theoretical and normative foundations for public policies, theories of the public policy process and the actors and institutions involved in this process as well as approaches to studying the politics and political dilemmas regarding public policy. You will also be introduced and apply these concepts to real-world policy areas including education, pollution and taxation. View Foundations of Public Policy on our Module Directory This module introduces the main political arenas and actors that shape public policy in democratic states and beyond. You will analyse and debate political conflicts around policymaking in the core arenas of democratic government including elections, parliaments, governments, the bureaucracy, and the judicial system. You will examine the public policy role of interest groups and civil society and explore policymaking beyond and outside of formal governmental arenas as well as in non-democratic states. View The Politics of Public Policy on our Module Directory This policy-oriented module probes the role and limits of government interventions in the microeconomic management of developed economies. In so doing, the analysis emphasises: (i) examination of the most common market failures and evaluation of options available for government to address them; and (ii) the factors that determine the choice and design of economic and regulatory policies to address these market failures given governments' political objectives. The module then goes on to explore the emergence of government failures and the reasons why the interactions between economics and politics impose constraints on the design of public policies, thereby enabling you to appreciate the associated policy issues and trade-offs. View Lectures in Economic and Public Policy on our Module Directory COMPONENT 08: OPTIOL Option from list (20 CREDITS) COMPONENT 09: OPTIOL Option from list (20 CREDITS)

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Teaching

• Core components can be combined with optional modules to enable you to gain either in-depth specialisation or a breadth of understanding across several topics
• Our postgraduates are encouraged to attend conferences and seminars

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Assessment

• Each module is assessed with a final examination and a coursework component
• Coursework is taken in the form of a term paper or a midterm test

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Dissertation

• You undertake an individually supervised research project that involves the in-depth study of a specific economic problem or issue