This programme will give students an introductory overview of each topic. While the course will provide students with a balance of theoretical knowledge and practical skills in these fields, a major focus will be on real-world applications to current and future global challenges and associated policy responses. By the end of the programme, participants will have a well-rounded understanding of each field and its applications in various domains.
The Behavioural and Experimental Economics week
This week will introduce you to the experimental methodology, providing an overview of key theories and experimental frameworks for measuring preferences in economics. There will be an overview of different games, other regarding preferences and fairness, heuristics, biases, emotions, and framing in economic decision making. You will then see how to apply behavioural economics to the real world in leadership, cooperation and the role of reciprocity. You will also have the opportunity to participate in an experiment in the Birmingham Experimental Economics Laboratory (BEEL).
The Environmental Economics week
This week will explain the nature of environmental problems, such as externalities, public goods, the tragedy of the commons, property rights, and market failure. You will consider possible solutions to environmental problems, looking at different policy approaches like regulation, taxes and charges, and environmental markets. Empirical methods will be considered to estimate health and non-health effects of pollution, using case studies, with an emphasis on the challenges of causal inference. You will look at the challenges for valuing the environment, as well the economic analysis of climate, including integrated assessment models and simulations.
The Globalisation and Trade Economics week
This week will offer insight into the patterns of globalisation and international trade. You will cover trade theory including the Ricardian model, the specific factors model, the Heckscher-Ohlin model, and increasing returns to scale. You will learn about the effects of trade policy, the instruments of trade policy, the political economy of trade policy, gravity equations and preferential trade agreements, the US-China trade war, the impact of Brexit on trade, as well as new protectionism. You will also look at trade and firms, FDI and multinationals and consider inequality and the environment.
Academic Credits
In previous years, students who have successfully transferred credits from our courses have received up to 20 UK credits, 5 US credits, or 10 ECTS. Students who wish to gain external credit should speak to their own institution to see if they will accept credits.