|07255171||Faculty of Economic and Management Sciences|
|Minimum duration of study: 1 year||Total credits: 210|
|Miss SC Magwaza|
The MPhil in Economics programme is designed to prepare students to enter into a research-based PhD degree programme in Economics. The programme focuses primarily on the core microeconomic and macroeconomic theory principles, as well as the theoretical econometric fundamentals necessary for the student to understand the extant economic literature and to contribute to the international economic debate.
EBW 801 is a prerequisite for the mini-dissertation (EKN 895). Although the module does not carry any credits, the module mark makes up 20% of the mini-dissertation mark.
The Department of Economics is serious about the need to develop students from previously disadvantaged backgrounds, and accepts that it has a responsibility to provide its own students with a seamless educational experience.
The weight of the mini-dissertation (EKN 895) contributes 57% towards the total requirements for the degree. Where possible, the mini-dissertation for the MPhil should be a fully-fledged PhD proposal.
Dissertations/mini-dissertations/research reports, curricula and modules
Article for publication
There is no expectation that an article be published from the research conducted in the mini-dissertation. Students interested in pursuing a PhD, however, should work with their supervisor to submit an article.
Minimum credits: 210
The module will first expose students to knowledge related to how individual consumers and firms behave under a very strict set of circumstances. Toward the end of the semester, the module will then begin to examine behaviour under less strict assumptions. The module covers in detail, firm behaviour, consumer behaviour, general equilibrium, behaviour under uncertainty and risk, strategic behaviour, information, game theory and to a lesser extent, the interaction between the government and the individual.
The basic framework for this module will be infinitely-lived dynamic stochastic and non-stochastic macro models in both discrete and continuous time frames. Overlapping generation models will also be used to deal with certain topics. Topics include:
• The Lucas Critique
• Growth models
• Business cycles
• Basics of a new Keynesian business cycle model
• Overlapping generations models
The module is devoted to microeconomic theory, and the relevant econometric theory needed to apply that theory to data that is readily available. Students will be expected to read a broad selection of published papers, learn about recent advances in both theory and econometrics, and start writing their own microeconomic research. Students will be graded through coursework and tests, as well as on their research.
The module is devoted to macroeconomic theory, and the relevant econometric theory needed to apply that theory to data that is readily available. Students will be expected to read a broad selection of published papers, learn about recent advances in both theory and econometrics, and start writing their own macroeconomic research. Students will be graded through coursework and tests, as well as on their research.
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