MSc in Economics MSc in Economics (Finance)

Programme Handbook 2013/2014

Contents INTRODUCTION .................................................................................................................................. 3 1 THE SGPE, THE UNIVERSITY, AND THE SCHOOL .............................................................. 3 2 PEOPLE ......................................................................................................................................... 4 2.1 Changing your Personal Tutor............................................................................................... 4 2.2 Programme Director .............................................................................................................. 4 2.3 Teaching staff ........................................................................................................................ 4 2.4 Programme Tutors ................................................................................................................. 5 2.5 Economics Departments and other staff: Contact Information ............................................. 5 3 PROGRAMME AIMS AND STRUCTURE ................................................................................. 7 3.1 Programme Overview ............................................................................................................ 7 3.2 Programme structure.............................................................................................................. 7 3.3 Course Weightings And Assessment Methods ...................................................................... 8 3.4 Degree Regulations and Programmes of Study ................................................................... 10 4 TEACHING AND LEARNING APPROACH ............................................................................ 10 4.1 Your responsibilities as a student ........................................................................................ 10 4.2 Email.................................................................................................................................... 10 4.3 Assignments and Tutorials .................................................................................................. 11 4.4 Consulting with Lecturing Staff .......................................................................................... 11 4.5 Learn .................................................................................................................................... 11 4.6 Timetable ............................................................................................................................. 11 5 ASSESSMENT REQUIREMENTS AND ACADEMIC FEEDBACK....................................... 12 5.1 Academic Feedback............................................................................................................. 12 5.2 The Board of Examiners and External examiners ............................................................... 12 5.3 Marking Standards............................................................................................................... 13 5.4 Examinations and Release of Exam Marks ......................................................................... 14 5.5 Final Assessment of the MSc and Diploma ......................................................................... 14 5.6 Resits and Revisions ............................................................................................................ 15 5.7 Special Circumstances and Exam Boards............................................................................ 15 6 PLAGIARISM ............................................................................................................................. 17 6.1 Use of plagiarism detection software .................................................................................. 17 7 COURSE DETAILS .................................................................................................................... 17 7.1 Foundations ......................................................................................................................... 18 7.2 Core Courses ....................................................................................................................... 19 7.3 Options Courses................................................................................................................... 24 8 The Dissertation ........................................................................................................................... 37 8.1 Length and Deadlines .......................................................................................................... 37 8.2 Dissertation Deadline .......................................................................................................... 37 8.3 Presentation of Dissertation ................................................................................................. 38 8.4 Role of Dissertation Supervisor ........................................................................................... 38 8.5 Students responsibilities regarding the Dissertation .......................................................... 39 8.6 Objectives of the dissertation .............................................................................................. 39 9 SUPPORT AND GUIDANCE ..................................................................................................... 41 9.1 Visa Information & International Office ............................................................................. 41 9.2 Bank Letters......................................................................................................................... 41 9.3 Matriculation Letters & Exemption from Council Tax ....................................................... 41 9.4 Graduation letters ................................................................................................................ 41 9.5 Student Attendance .............................................................................................................. 41 9.6 Transcripts and Marks Letters ............................................................................................. 42 9.7 Updating your personal details in MyED ............................................................................ 42 9.8 TEAM and Additional Help with English Language .......................................................... 42 9.9 Leave of Absence and Study Away During Your Dissertation ........................................... 42 9.10 Interruptions and Extensions ............................................................................................... 43 9.11 Medical treatment ................................................................................................................ 43 9.12 Illness and Personal Problems ............................................................................................. 44

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9.13 Student Counselling............................................................................................................. 44 9.14 Students with disabilities ..................................................................................................... 44 9.15 Advice Place ........................................................................................................................ 44 9.16 Careers Service .................................................................................................................... 45 9.17 Social Media ........................................................................................................................ 45 9.18 Complaints and Grievances ................................................................................................. 45 10 FACILITIES ................................................................................................................................ 46 10.1 Computing facilities ............................................................................................................ 46 10.2 Printing ................................................................................................................................ 46 10.3 Computer support ................................................................................................................ 46 10.4 Study Rooms ....................................................................................................................... 46 10.5 Library resources ................................................................................................................. 47 11 STUDENT FEEDBACK.............................................................................................................. 48 12 COMPLAINTS AND GRIEVANCES ........................................................................................ 49 USEFUL WEBLINKS .......................................................................................................................... 50 Appendix A - Personal Tutor (PS) Statement ....................................................................................... 52 Appendix B - Programme aims and learning outcomes........................................................................ 53 Appendix C - Plagiarism guidance for Economics students ................................................................. 54 Appendix D - Library Resources for Economics students .................................................................... 56 Appendix E - Institute for Academic Development .............................................................................. 58

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INTRODUCTION This Handbook is a guide to what is expected of you on the MSc in Economics1, and the academic and pastoral support available to you. Please read it carefully. It will help you to make the most of your time on the Programme. Some important general aspects covered in this handbook are amplified in the Universitys Code of Practice for Taught Postgraduate Programmes: An Appendix of URLs used throughout the handbook can be found on the last page, (page 51). Hardcopies of the above are available from the School of Economics and the College of Humanities & Social Science Postgraduate Office (David Hume Tower, first floor). This handbook does not supersede the University Regulations and it should be read in conjunction with the above. We have tried to ensure that the information in this handbook is accurate, but it does not constitute a definitive document. The information contained in this handbook was up to date when it went to press. However, some of the details on courses, staffing etc. are subject to change as the year progresses. It is therefore important that you check the website, Learn (the University Virtual Learning Environment) and your email regularly for any important changes. 1 THE SGPE, THE UNIVERSITY, AND THE SCHOOL

The Scottish Graduate Programme in Economics (SGPE) is a collaborative venture involving the teaching and research strengths of the Economics departments in the following universities2: University of Aberdeen University of Dundee University of Edinburgh Heriot-Watt University University of Glasgow University of St Andrews University of Stirling Strathclyde University Heads of Economics of all the Universities mentioned above meet regularly through the year to ensure that the programme provides graduate students with a high quality and thorough training in economics and to furnish them with all the skills of the modern professional economist. The MSc has been recognised by the ESRC as an advanced course for the purposes of research training for economic and the SGPE is the ESRC Economics Pathway in Scotland. University of Edinburghs Academic structure is based on 3 Colleges (Humanities and Social Science, Medicine and Veterinary Medicine, and Science and Engineering) containing a total of 22 Schools. The School of Economics, which hosts the MSc, is part of the College of Humanities and Social Sciences. The Head of School (Dr Simon Clark) has overall responsibility for the academic, administrative and financial management of the School and reports to Head of College. Further information about the School is available on the Schools website
1

In this handbook, references to the MSc in Economics also covers the MSc in Economics (Finance), unless otherwise specified. 2 Contact information for these departments is given in section 2.5

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PEOPLE

All taught students have a Personal Tutor, a Senior Tutor, and a Student Support Team in the School. Most questions you might have will be directed either at your Personal Tutor (if they are academic questions like how do I go about choosing a dissertation topic?) or the Student Support Team (if they are administrative questions like how do I get a letter confirming my status in the programme?); if youre not sure who to ask, just ask one of us at random and well get you sorted out. See the appendix for information on the meetings you can expect to have with your Personal tutor and how your tutor will help you during your time at Edinburgh. We aim to respond to all queries within one or two business days. Your Personal Tutor is: Dr. Sean Brocklebank (Sean.Brocklebank@ed.ac.uk) Your Senior Tutor& Programme Director is: Prof. Jonathan Thomas (Jonathan.Thomas@ed.ac.uk) Your Student Support Team is: Ms. Marie Craft and Ms Niki Konsta, Mrs. Lesley Mayn Email: sgpe@ed.ac.uk Telephone: 0131 651 1764 Office Hours are: Monday Fridays 10am - 4pm

2.1

Changing your Personal Tutor

If you would like to change your Personal Tutor, please email the Senior Tutor or the Programme Administrator. 2.2 Programme Director

Your Programme Director is: Prof Jonathan Thomas He is responsible for the smooth running of the MSc, including co-ordination of teaching inputs, programme evaluation, and curriculum development.

He is available for consultation on most days by prior email appointment. Simple queries can often be handled by phone or email.
His Office: Telephone: Email : Room 1.09, 31 Buccleuch Place. 0131 650 4515 Jonathan.Thomas@ed.ac.uk

2.3

Teaching staff

A full list of teaching staff from the eight Universities involved in teaching on the MSc is available on the SGPE website Their contact details are also included in the course descriptions in Section 7.

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2.4

Programme Tutors

Your tutors work closely with the teaching staff to prepare and run the core tutorials. They will also support you at our weekly helpdesks (during the core teaching). They are all PhDs who are knowledgeable and experienced, and most importantly they have all graduated from the MSc themselves and can offer much informal advice and support. Foundations: Tutorials: TBC Macroeconomics: Tutorials: Sergei Plekhanov and Carl Singleton Labs: David Pugh Microeconomics: Kimon Doulis and Burak Darbaz Econometrics Tutorials: Anna Babloyan and Erkal Ersoy Labs: Anna Babloyan, Erkal Ersoy, and Achim Ahrens

2.5

Economics Departments and other staff: Contact Information

This section gives details of participating universities. It should be your first point of reference when arranging a dissertation supervisor. You should read the staff members web page for full details of their research, etc. which may be accessed by selecting the appropriate link on the relevant Departments home page given in section below. Other members of staff in participating Departments not on this list may be approached about supervising your dissertation provided that such an approach is approved in advance by the Programme Director (contact the SGPE Office to request this, in the first instance.) A staff list from the eight Universities involved in teaching on the MSc is available on the SGPE website. This list may be updated from time to time it is correct at the time it is uploaded. Teaching staff and Potential Dissertation Supervisor List

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Participating Economics Departments:- Addresses and Contact Information University of Aberdeen Department of Economics Edward Wright Building Dunbar Street Old Aberdeen AB24 3QY Telephone: 01224 272167 http://www.abdn.ac.uk/economics/ University of Dundee Department of Economic Studies Nethergate Dundee DD1 4HN Telephone : 01382 344339 http://www.dundee.ac.uk/econman/ University of Edinburgh School of Economics 30 Buccleuch Place Edinburgh EH8 9JT Telephone 0131 650 8361 http://www.ed.ac.uk/schoolsdepartments/economics/ University of Glasgow Department of Economics Adam Smith Building Glasgow G12 8RT Telephone: 0141 330 4618 http://www.gla.ac.uk/subjects/economics/ Heriot-Watt University School of Management and Languages Economics Department Edinburgh EH14 4AS Telephone: 0131 451 3557 http://www.sml.hw.ac.uk/departments/accountancyeconomics-finance.htm University of St. Andrews School of Economics & Finance Castlecliffe, The Scores University of St Andrews Fife KY16 9AR Telephone: 01334 462420 http://www.st-andrews.ac.uk/economics University of Stirling Department of Economics Stirling FK9 4LA Telephone: 01786 467470 http://www.stir.ac.uk/Departments/Management/Ec onomics University of Strathclyde Department of Economics Sir William Duncan Building 130 Rottenrow Glasgow G4 0GE Telephone: 0141 548 3842 http://www.strath.ac.uk/economics/

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3 3.1

PROGRAMME AIMS AND STRUCTURE Programme Overview

The MSc in Economics is the first year of the SGPE. When taken full time it lasts for one year and leads to the award of either an MSc in Economics, or an MSc in Economics (Finance). At the end of the academic year, students will have sat nine final examinations and have written a dissertation in order to obtain the MSc degree. For those intending to proceed to a PhD Economics with the SGPE, the MSc also forms the compulsory first year of coursework for the Graduate Programme. In order to proceed to the PhD stage of the Graduate Programme, students must obtain a good pass (MSc*) in the MSc. The SGPE MSc is the only recognised ESRC pathway for doctoral study in economics in Scotland. The programme aims to provide a modern and comprehensive training in economics and finance that will equip students to move directly into a career as a professional economist or to undertake research for a PhD. More detail on the programme aims and learning outcomes are available in the Appendix. 3.2 Programme structure

Students taking the full-time MSc programme must: (i) Take the preliminary courses in Maths and Econometrics (September 2013); (ii) Take six core courses in Microeconomics 1 & 2, Macroeconomics 1 & 2, and Econometrics 1 & 2 (October 2013 to February 2014); (iii) Participate in the two day residential methodology programme (9th & 10th January 2014); (iv) Take three options courses (February 2014 to March/April 2014); (v) Write a dissertation (to be handed in August 2014). Please note: Asset Pricing and Corporate Finance are not available to MSc Economics students. Students taking the MSc in Economics (Finance) programme follow the same curriculum as the MSc in Economics except that they choose three options from: Asset Pricing, Corporate Finance, International Money and Finance, Advanced Time Series Econometrics, and Experimental Economics and Finance. Students taking the part-time MSc programme (timing mirror those above) Year 1 (i) Take the preliminary courses in Maths and Econometrics; (ii) Take four core courses in Macroeconomics 1 & 2, and Econometrics 1 & 2; (iii) Participate in the two day residential methodology programme (9th & 10th January 2014); (iv) Take one options course; Year 2 (v) Take two core courses in Microeconomics 1& 2 (vi) Take two options courses (vii) Write a dissertation. There is some flexibility in swapping core and options courses between years, and those part-time students wishing to do this should contact their personal tutor or Programme Administrator for advice. However all students MUST complete their studies within two years. Part-time students must attend the methodology conference in the year that they take Econometrics.

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3.3

Course Weightings and Assessment Methods

The tables below and on the following page list the courses, their assessment and weight in the MSc. (See section 7 for details on course content, reading etc.). Full details are given out at the beginning of each course. (*20 SCOTCAT points are roughly similar to 10 ECTS) Foundations of Mathematics Statistics and Econometrics Course Assessment method Formal and weighting contact hours Mathematics Econometrics 20 20 SCOTCAT Points* 0 0 Proportion of final MSc assessment

Class exam 0 Class exam & Lab 0 assignment

CORE COURSES Course Microeconomics 1 Microeconomics 2 Macroeconomics 1 Macroeconomics 2 Econometrics 1 Econometrics 2 Econometrics Project

Formal contact hours 36 20 36 20 36 20 4

Assessment method and weighting Class Exam 25% Degree Exam 75% Degree Exam 100% Class Exam 30% Lab Assessments 10% Degree Exam 60% Class Exam 30% Lab Assessments 10% Degree Exam 60% Class Exam 25% Degree Exam 75% Class Exam 25% Degree Exam 75% Group presentation 15% Group Project 85%

SCOTCAT Points* 20 10 20 10 20 10 10

Proportion of final MSc assessment 1 /9

1 1

/18 /9 /18 /9

/18 /18

OPTIONAL COURSES FOR MSc Economics Students

(Three courses to be chosen) Course Formal contact hours

Advanced Topics in Macroeconomics Advanced Topics in Microeconomics Advanced Microeconometrics Advanced Time Series Econometrics Development Economics The Development and 18 18 18 18 18 18

Assessment method and weighting Examination Examination Examination Examination Examination Examination

SCOTCAT Points* 10 10 10 10 10 10

Proportion of final MSc assessment 1 /18

1

/18

/18 /18

1/18

/18

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Methodology of Economic Thought Economic Policy Economics of Labour Markets Topics in Economic History Environmental and Natural Resource Economics Experimental Economics and Finance Industrial Organisation (not running in 13/14) International Money and Finance International Trade Health Economics

18 18 18 18 18 18 18 18 18

Examination Examination Examination Examination 50% Essay 50% Examination Examination Examination Examination Examination 70% Group work 30%

10 10 10 10 10 10 10 10 10

/18 /18 /18 /18 /18 /18 /18 /18 /18

OPTIONAL COURSES FOR MSc Economics (Finance) Students

(Three courses to be chosen) Course Formal contact hours

Advanced Time Series Econometrics Asset Pricing Corporate Finance Experimental Economics and Finance International Money and Finance DISSERTATION Topic to be agreed with supervisor by the last Friday of semester 2 OTHER COURSES Course 2 -day course 18 18 18 18 18

Assessment method and weighting Examination Examination Examination Examination Examination

SCOTCAT Points* 10 10 10 10 10

Proportion of final MSc assessment 1 /18

1/18

1/18

/18 /18

To be handed in by 12noon, Monday 19th August 2013

Word limit: 10,000 Words

50 SCOTCAT Points*

/18 of final MSc assessment

Formal contact hours

residential Various talks/sessions

Assessment method and weighting No formal assessment

Proportion of final assessment of MSc 0

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3.4

Degree Regulations and Programmes of Study

The Degree Regulations and Programmes of Study tables provide information on the regulatory framework by which the Programmes of study are governed, together with the regulations and codes that govern the general context of an academic career at the University. Degree Programme Table: Economics (Finance) (MSc) (Full-time) (PTMSCECNFI2F) Degree Programme Table: Economics (Scottish Graduate Programme) (MSc) (Full-time) (PTMSCECNSG1F) 4 TEACHING AND LEARNING APPROACH

The main method of teaching for the courses (for content see section 7) is via lectures, tutorials and computer laboratory work. All students will also write an applied (empirical) project as part of their core Econometrics course (see section 7.2.1). There will be a residential methodology conference at a hotel in Scotland in early January. All transportation, meals, and accommodation costs are covered by the programme. It is an essential part of your postgraduate training and attendance is compulsory. The dissertation which is written during the summer, involves a considerable amount of independent study under broad guidance from a chosen supervisor. Students rights and responsibilities during the dissertation stage are described in section 7 of the Code of Practice for Taught Postgraduate Programmes (see also section 8 of this handbook). 4.1 Your responsibilities as a student

The MSc is a rigorous and analytical programme which requires students to read and understand cutting edge research in textbooks and professional journals. As a result, you will undertake a significant amount of private study in addition to attendance at lectures, etc. You are also expected to Participate fully by contributing and listening in lectures tutorials, class and group discussions Participate fully in your assigned study groups Keep us informed of any circumstance that might affect your academic performance Seek advice as and when you need it Accept that you are responsible for the quality of all the academic work you submit. 4.2 Email

Email is the primary way that we will communicate with you and it is your responsibility to check your email regularly (e.g. at least once a day) for messages. Failure to read and manage your emails is not an acceptable ground for appeal. It is also the way we will let you know if a lecture has been unexpectedly cancelled or changed at the last minute. Using your University email is generally the most effective way for you to contact your course instructors especially when contacting instructors. Googlemail, Hotmail or Yahoo email addresses are often treated as spam by university servers and may not reach the intended recipient. To learn more, please read the full University statement which includes information on how to set up an auto forward on your University of Edinburgh email account

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University policy on the use of email 4.3 Assignments and Tutorials

Regular tutorials based on tutorial assignment work will be held throughout the core courses. Each study group will be expected to submit an answer to the tutor and a single sheet of A4 with each contributors signature on it. Each group will receive a mark, written feedback and an outline answer guide for each tutorial assignment and these materials will be distributed at the tutorial itself. Outstanding difficulties can be resolved at the tutorials themselves. Although the group assignments do not count formally towards your degree, completion of them is compulsory. The Board of Examiners may take into consideration both the submission rate and scores of non-assessed tutorial work in the cases of students whose results fall marginally below a pass mark. 4.4 Consulting with Lecturing Staff

Whenever possible, core course lecturers will also be available for consultation either during office hours or after/before the lecture. Students may consult lecturers as individuals or as study groups during this time. 4.5 Learn

We use Learn, the Universitys Virtual Learning Environment (VLE) to host all the course materials, lecture notes, occasional lecture recordings, the timetable; class exam results; past papers and much more. You are expected to use it regularly and check it frequently. Learn can be accessed through the MyEd Portal where you will be directed to the MyEd portal login screen. You will receive your login and password for MyEd when you register. The Learn site can be found in the Courses tab. You can also access Learn directly here You will still need to log in but once logged in; using the link will take you directly to Learn. 4.6 Timetable

A timetable is uploaded to Learn and is regularly updated with changes (you will be emailed to let you know if we have to make a change) You may also notice that you have a personalized timetable in MyEd, if there are ever discrepancies between the two, the timetable uploaded to Learn is the one that will be correct.

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ASSESSMENT REQUIREMENTS AND ACADEMIC FEEDBACK

It is your responsibility to ascertain and meet your assessment deadlines, including examination times and locations. As examinations may be scheduled at any time during the semester, you MUST be available throughout the semester, including the whole of the examination diet. Occasionally assessments may need to be rescheduled with very little notice. For further guidance see Regulation 14 of the Taught Assessment Regulations Registry exam diet information (relevant for May/June Exams) 5.1 Academic Feedback

Academic feedback is not just marks and the comments written on your exam scripts. Academic feedback is information which can help you to review what you know, understand and can do in your studies, and to help you to identify areas for improvement. Lectures, exam, quizzes, project work, labs, tutorials, helpdesks, exam review tutorials and assignment are all activities through which you will receive academic feedback. And academic feedback is also provided informally through activities that are not assessed, such as class discussions, group exercises, problem solving, and developing project plans and proposals. University information on feedback and assessment 5.2 The Board of Examiners and External examiners

The Board is made up of teaching staff from the University of Edinburgh and the SGPE Universities and external examiners from other UK Universities. It meets twice a year - once after the May exam Diet to confirm the final Marks of the taught courses and progression to Dissertation and again in September to confirm the Dissertation Marks and final classification of your award. NOTE: If you have queries about the Board or the External examiners, please contact the SGPE Office and not the external examiners. Exam Board Convener and Chair: Professor Ed Hopkins, School of Economics

His role is to call the board meetings and ensure that they are run in accordance to regulations. Our External Examiners are: Professor Ben Lockwood, University of Warwick Professor Richard Baillie, Queen Mary, University of London The External examiners role is to help ensure that our MSc is similar in standard to those of other comparable universities. They ensure that assessment is fair, and are also invited to comment on course content and structure.

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5.3

Marking Standards

All coursework and examinations are marked according to the following standard (the MSc* is the standard required by the rules of the SGPE to proceed to the PhD) which is based on the Common Postgraduate Marking Scheme: 90-100 A1 MSc with Distinction 80-89 A2 MSc with Distinction 70-79 A3 MSc with Distinction An excellent performance. Here the student shows a deep mastery and understanding of the subject, and a well developed ability to analyse and apply concepts, models, and techniques. The work is very well organised, and there is a clear awareness of how to bring the material learned to bear on a variety of issues, including those not previously encountered. 60 - 69 B (SGPE MSc*) A very good performance. Work in this class displays very good understanding of the material and a sound technical ability. In addition it should also demonstrate potential for research in either very good technical proficiency or a clear awareness of how to use the ideas that have been learned to address previously unencountered theoretical, policy, or empirical issues. 3 50 - 59 C MSc Pass A good performance, satisfactory for a Masters degree. Work in this class demonstrates a good knowledge and sound understanding of the material as reflected in an ability to explain the central ideas; however, there may be a heavy reliance on course materials. Work in this class should also demonstrate some basic technical ability, but not any great technical facility and it will be weak in the ability to use ideas, models and, techniques to address previously unencountered theoretical, empirical or policy issues. 40 - 49 D Diploma Pass Work in this class demonstrates an adequate knowledge of the material in the programme and an ability to present it in an orderly fashion in answering a question. However the work will reflect no real understanding or mastery of the subject; it will not display an ability to explain the central ideas and arguments themselves, tending instead to mechanically reproduce diagrams and mathematics etc. with no explanation. 30 - 39 E Marginal Fail Work in this class demonstrates some knowledge of the material in the programme relevant to the question being asked. However the work will reflect no real understanding or mastery of the subject; it will not display much ability to explain the central ideas and arguments themselves, tending instead to mechanically reproduce diagrams and mathematics etc. with little or no explanation. 20-29 F Clear Fail Work which shows some limited awareness of the problem or issue central to the question and which shows a limited ability to present clear and rational arguments in answering the question. 10-19 G Bad Fail Work showing only minor evidence of learning or understanding of the issues surrounding the question and an inability to formulate, use and communicate ideas. Answers will be characterised by irrelevance, brevity, rote learning and/or superficiality.

Note when applied to the final MSc mark, MSc* is a grade used by the SGPE for the purposes of determining PhD progression only. It is NOT a recognised University grade.

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0-9 H Bad Fail Marks in this range are generally given for students who show some knowledge of the course and give some evidence of having attended some lectures but there will be nothing in the answer that is relevant to the question at hand. Although aimed mainly at Undergraduate exchange students you might find this webpage useful when looking for equivalencies to other marking systems. http://www.ed.ac.uk/schools-departments/registry/exams/regulations/credit-allocation 5.4 Examinations and Release of Exam Marks

Class examinations are normally held in September, December, and February and are organized by the SGPE Office. Results are normally uploaded to LEARN (marks will be listed by exam number only) about 3- 4 weeks after the examination has taken place, but all marks are provisional until after the Exam Board has met in May/June. Class examinations offer academic feedback that can help you to prepare for the final exam and improve your final result. After the exam scripts have been marked and returned to the office the SGPE office will invite you to make appointment to come in and review your written exam scripts. Degree examinations are held in May and organised centrally by Registry. Progression decisions will be uploaded to LEARN two working days after the exam board has taken place and is subject to final ratification by College (which we expect). Final course Marks will be uploaded to MyEd AFTER ratification by College this process normally takes 2-3 weeks after the exam board has taken place. Students will not be invited to review their Degree Exam scripts as these are final exams and any review would not assist in improving their final taught course results. Academic judgements cannot be appealed and marks can only be amended if a clerical error is found. Examination scripts, or copies of such scripts whether class or degree are not returned to students under any circumstances as per University regulations. 5.5 Final Assessment of the MSc and Diploma

All significant elements of assessment are either marked double blind (this means marked separately by two different markers) or are marked and then moderated by a course coordinator. See Section 3.3 for course weightings used when calculating awards and progression. 5.5.1 Examination Diet in April/May

After the examination diet an aggregate coursework mark for each candidate is calculated by taking a weighted sum of the final marks (out of 100) for each of the nine courses using the SCOTCAT points as weights. This mark is computed to two decimal places. To be permitted to proceed to the dissertation, candidates must achieve an aggregate coursework mark of at least 50% in the taught courses and must have attained at least 80 credit units with a pass at 50% or more in the taught components of the course4. A candidate with an aggregate coursework mark of at least 40% but less than 50% and who has attained at least 80 credit units with a pass at 40% or more is awarded the Diploma, but will not proceed to the dissertation stage.

The Econometric Project is not included in the taught component

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A candidate with less than 40% aggregate coursework mark fails both the Diploma and the MSc. 5.5.2 Criteria for assessing marginal MSc students

Positive criteria that the Exam Board will use when assessing marginal MSc students (i.e. those with a GPA between 48.00 and 49.99%) are: (i) (ii) (iii) (iv) Positive progression in performance through the year; in particular a relatively better performance in degree exams than class exams a relatively good performance in the three core subjects (Microeconomics, Macroeconomics and Econometrics.) a profile of marks that have a high variance; and a good (non-assessed) assignment performance.

The external examiner is consulted on marginal papers, as well as being shown a representative sample of exam papers in order to monitor and validate marking standards. 5.5.3 Submission of the Dissertation

Once the dissertation has been submitted, the students work is complete and his/her marks are presented to the final Examination Board in September. There are two MSc grades recognised by the University of Edinburgh MSc Pass and Distinction. Candidates who have been permitted to proceed to the dissertation and who achieve 50% or more in the combined dissertation and econometrics project mark will be awarded the MSc pass. To be awarded the MSc with Distinction, candidates must: (i) achieve at least 70% in the dissertation; and (ii) achieve an aggregate coursework mark (including the Econometrics Project) of 70% or very close to, the 70% standard. In addition to these two University grades there is an SGPE MSc * grade or Merit. This does not appear on any University documentation but is recorded by the programme administrator and is recognised by the eight participating SGPE Departments as a necessary minimum entrance requirement for the PhD in Economics within the SGPE. To assess whether or not a student has reached this requirement an aggregate grade equal to 2/3rds the coursework aggregate plus 1/3rd of the combined econometrics project anddissertation mark is computed. Students achieving an aggregate MSc mark of 60% will be awarded the star/merit grade by the SGPE. 5.6 Resits and Revisions

IT is not possible to improve your performance by re-sitting exams. In short, NO RESITS are allowed. Also course-work such as essays cannot be resubmitted, nor can class exams be retaken. Revision and resubmission of Dissertations is also not permitted. In order to proceed to the dissertation stage, and to be awarded the MSc, candidates must meet all assessment requirements in the April/May diet of exams at the first attempt (see Code of Practice for Taught Postgraduate Programmes, Regulation 8.1.1) 5.7 Special Circumstances and Exam Boards

This is a formal process whereby students request (via the SGPE office) special consideration related to specific pieces of course assessment on the basis of a verifiable medical problem, bereavement, or accident. If you apply, you will need to write up a statement and take time to gather evidence to back

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your statement. It is not a form of insurance against poor marks. It is a labor -intensive process and will require considerable time for all involved (for you, your personal tutor, administrative staff and the Special Circumstances committee) so the decision to apply for Special Circumstances should not be taken lightly. A claim for special circumstances is more likely to be successful if: the circumstance itself is backed by evidence from a third party; it is specifically related to a piece of course work or assessment on a specific course; the request is submitted near to the time that the circumstances occurred.

A request in which it is claimed that all courses were adversely affected will have the sympathy of all involved but is unlikely to be successful. Also it is best to contact the SGPE office as and when you are ill or injured, rather than to wait until just before the exam board meets. Examples of special circumstances might be:

physical illness or injury depression or similar mental or emotional illness specific learning difficulty (such special circumstances may be referred to the Student Disability Office) bereavement or serious illness of a person with whom the student has a close relationship serious financial or accommodation difficulties

Examples of circumstances that are unlikely to be accepted include:

pressure of academic work employment commitments a short-term, self-certified illness, such as a common cold

If you wish the exam board to take any special circumstances into consideration when reviewing your exam or dissertation marks you must contact the SGPE Office at least one week before the Exam board meets. Detailed guidance and the form that you will need to complete will be uploaded to Learn or you can request it from the SGPE Office. If you are in doubt as to whether or not to request Special Circumstances, please speak to the SGPE office or your Personal Tutor. Email SGPE Office Access Learn University Special Circumstances Procedures University Special Circumstances Policy EUSA guidance on Special Circumstances

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PLAGIARISM

All students who progress to the dissertation component must attend a two hour lecture in early June (date, time and location to be announced several weeks after the final April/May exam diet timetable is released by Registry in Semester 2) which will give explicit guidance on how to avoid plagiarism in particular and on writing the dissertation in general. In the appendix you will find additional guidance on plagiarism more specifically related to Economics. It is very important that all students understand the Universitys rules about plagiarism. Students sometimes break these rules unintentionally because they do not realise that some of the ways in which they have incorporated other peoples work into their own before they coming to this University, may be against the rules here. Plagiarism is the act of copying or including in one's own work, without adequate acknowledgement, intentionally or unintentionally, the work of another, for one's own benefit. Plagiarism is a serious disciplinary offence and even unintentional plagiarism can be a disciplinary matter which is regarded as academic misconduct. Universitys general plagiarism guidance Please also see the Universitys Institute for Academic Development which gives details of workshops and resource materials about effective learning at university, some of which are relevant to plagiarism under study skills support for students. See appendix for further details. 6.1 Use of plagiarism detection software

Please note that computers may be used to detect plagiarism, whether by using something as simple as a search engine such as Google (it is as easy for a marker to find online sources as it is for you) or something more complex for specialized comparisons of work. All dissertations will be checked using the Joint Information Systems Committee (JISC) plagiarism detection service TURNITIN and students must upload an electronic copy to TURNITIN by the deadline. You will Submit your Dissertation and Econometrics Projects to TURNITIN via a Link in LEARN. We ask you submit the Econometrics to TURNITIN to give you the opportunity to understand how the software works. You may only submit your Dissertation once via Learn do NOT experiment by submitting your dissertation via a pseudonym or a different email address. More Information about TURNITIN Turnitin Company Website 7 COURSE DETAILS

COURSE DETAILS This section gives details of the dissertation and outlines of individual courses. The course outlines give basic information about each course offered on the programme. This information is provisional, in the sense that the particular course instructors, details of the course content, and the recommended texts and reading, are all subject to potential change. Updated and more detailed course outlines will be given to you at the start of each course by the relevant lecturer. Information on the option courses will be given in December in order that courses can be chosen by the end of January. The code after each course title is that given in the University Degree Regulations and Programmes of Study and is useful for checking exam timetables etc. * denotes Course Organiser
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7.1

Foundations

(Mathematics, Statistics and Econometrics ECNM11002) These courses take place during the first three weeks (including Freshers week) of the semester one and consist a course each on the foundations of mathematical economics course and on the foundations of statistics and econometrics. There are also a series of supporting tutorials and labs. The tutorials focus on solving homework questions and dealing with any issues which individual students might have, while the labs teach the use of the relevant mathematical and statistical software (currently Python and Stata, respectively). When the teaching is over, each course is examined by two, two hour class examinations and there is also an in-lab computer-based exam on the relevant software. Although the mark will appear on your final transcript, this assessment does not form a part of your final degree mark for the MSc; its main purpose is to enable us to provide you with feedback on your academic background. In particular, a poor performance will signal the need for extra studying and is an opportunity for students with a poor background to plan and undertake a systematic revision of the relevant materials. Students who badly fail these exams will meet with their Personal Tutor to discuss and plan their future studies and may also be asked to consider whether it is in their interests to continue with the MSc itself. 7.1.1 Mathematics component of ECNM11002 Dundee Y.F.Chen@dundee.ac.uk

Instructor Dr Yu-Fu Chen *

Objectives The main objectives of the course are to refresh knowledge in mathematical economics, to establish a common basic standard and to facilitate the start to the core courses in macroeconomics and microeconomics. Structure The course comprises 7 three-hour lectures over a period of approximately 2 weeks. Indicative Reading Simon and Blume, Mathematics for Economists, Norton Chiang, Fundamental Methods of Mathematical Economics, 3rd ed., McGraw-Hill Hoy, Livernois, McKenna, Rees and Stengos, Mathematics for economics, 2nd ed., MIT Press Adda and Cooper, Dynamic Economics: Quantitative Methods and Applications, MIT Press The scope of these books is much wider than the course itself and will be a useful tool throughout the MSc program. Additional reading will be recommended in lectures. Syllabus Review of One-Variable Calculus Multivariate Calculus Static Optimisation (1): Unconstrained Static Optimisation (2): Constrained Static Optimisation (3): Inequality Constrained Intertemporal Optimisation: Discrete-time Intertemporal Optimisation: Continuous-time

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7.1.2

Introductory Statistics and Econometrics component of ECNM11002 Edinburgh sean.brocklebank@ed.ac.uk

Instructor Dr Sean Brocklebank

Objectives To furnish students with the basic skills in probability, statistics and econometrics as well as the use of the Stata software which is the standard software used in the core and option Econometrics modules. Structure The course comprises 7 three-hour lectures over a period of approximately 2 weeks. Indicative Reading Stock and Watson, Introduction to Econometrics, 3rd ed. Pearson Schaums guide to Linear Algebra Syllabus Elements of matrix algebra Variables and descriptive statistics; basic probability and probability density functions Expectations and moments Bivariate distributions; elementary sampling theory Basic estimation and hypothesis testing; introduction to simple linear regression Simple linear regression model: statistical aspects, Gauss Markov theorem, sampling distributions Basic asymptotic theory with simple applications 7.2 Core Courses

There are six core courses; Econometrics 1, Macroeconomics 1, Microeconomics 1 and run throughout the first semester and Econometrics 2, Macroeconomics 2, and Microeconomics 2 run over the first half of the second semester. An asterisk beside a name indicates the course coordinator. 7.2.1 Econometrics 1 Strathclyde Heriot-Watt ECNM11043 r.l.alpine@strath.ac.uk M.E.Schaffer@hw.ac.uk

Instructors Mr Robin Alpine Prof Mark E. Schaffer*

Objectives Together with Econometrics 2, this module provides a thorough training in basic econometric methods to enable you to critically assess applied work as well as to undertake your own using appropriate econometric techniques. You will acquire the background required for research at the PhD level or in employment as a professional applied economist. Structure This module consists of approximately 38 hours of lectures which are supported by approximately weekly lab/tutorial sessions (2 hours per week) and a help-desk. Part A (Robin Alpine) 3 weeks An introduction to classical econometrics In this part we will cover the fundamentals of the general linear model: OLS; Gauss-Markov Theorem; inference; dummy variables; and other techniques. Part B (Mark Schaffer) 6 weeks Core econometrics The motivating framework for much of the second part of the course is GMM (the Generalized Method of Moments). Topics covered will include: OLS, IV and other GMM estimators; large

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sample theory; GLS; maximum likelihood (ML); robust covariance estimation; system estimation; basic panel data. Textbooks Hayashi, Econometrics, Princeton University Press. Verbeek, A Guide to Modern Econometrics, 4th ed., John Wiley & Sons Assessment The overall assessment consists of a class examination in December after the teaching is over (25% of the final mark); and a final degree examination in the April/May examinations diet (75% of the final mark). 7.2.2 Econometrics 2 Dundee Heriot-Watt ECNM11050 h.h.molana@dundee.ac.uk M.E.Schaffer@hw.ac.uk)

Instructors Prof Hassan Molana Prof. Mark E. Schaffer*

Objectives Together with Econometrics 1, this module provides a thorough training in basic econometric methods to enable you to critically assess applied work as well as to undertake your own using appropriate econometric techniques. You will acquire the background required for research at the PhD level or in employment as a professional applied economist. Structure This module consists of approximately 16 hours of lectures which are supported by weekly lab/tutorials sessions (2 hours per week) and a help-desk. Econometrics 2 is focused on time series econometrics and will cover: Stationary time series models; models with trend; and multi-equation time series models. Textbook Enders, Applied Time Series Econometrics, 3rd ed., John Wiley & Sons The textbooks from Econometrics 1 (Hayashi and Verbeek) can be used as supplements. Assessment The overall assessment consists of class examination (weighted at 25%) and a final examination (weighted at 75%) held during the April / May exam diet. The class examination is held in February, after the teaching is over. 7.2.3 Macroeconomics 1 ECNM11024

Instructors

Ric Holt* Atanas Christev

Edinburgh Heriot Watt

Richard.Holt@ed.ac.uk
A.Christev@hw.ac.uk

Objectives The aim of this module is to introduce you to the theoretical analysis of growth and income differences, consumption behaviour, labour markets and unemployment. By the end of the course you should be able to outline and manipulate a number of popular theoretical models, derive and analyse the relevant policy conclusions implied by them, and refer to the available evidence. Structure The course is delivered through 36 classroom lecture hours, plus tutorials and Computer Lab Work.

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Textbooks For a course at this level there is no single core text. The main textbooks used are: Romer, Advanced Macroeconomics, McGraw Hill. Heijdra, Foundations of Modern Macroeconomics, 2nd edition, Oxford University Press Acemoglu Introduction to Modern Economic Growth Pissarides, Equilibrium Unemployment Theory, 2nd Edition, MIT Press For each topic, a detailed reading will be provided by the respective lecturer. Course Outline The course is divided into two sections: -Economic growth and cross country income differences (Ric Holt, 16 hours) -Consumption, labour markets and unemployment (Atanas Christev, 20 hours) For each topic, a detailed outline will be provided by the respective lecturer. Assessment The final examination in the April / May diet counts for 60 per cent of the total grade. 10 per cent of the final grade is made up from lab-based assessments. The remaining 30 per cent of the final grade comes from a three-hour class test in December. The class examination paper comprises questions in two sections (one from each topic) all of which should be answered. 7.2.4 Macroeconomics 2 ECNM11022

Instructor Robert Zymek Course Coordinator Ric Holt*

Edinburgh Edinburgh

Sevi.Rodriguez@ed.ac.uk Richard.Holt@ed.ac.uk

Objectives The aim of this module is to introduce you to the theoretical and empirical analysis of economic fluctuations. By the end of the course you should be able to outline and manipulate the basic theoretical models, derive and analyse the relevant policy conclusions implied by them, and refer to the available evidence. Structure The course is delivered through 20 classroom contact hours. Textbooks For a course at this level there is no single core text. The main textbooks used are: -Romer, Advanced Macroeconomics, McGraw Hill. -Walsh, Monetary Theory and Policy, 3rd edition MIT Press For each topic, detailed reading will be provided by the lecturer. Assessment Final examination in the April / May diet counts for 60 per cent of the total grade. An additional 10 per cent of the final grade is made up from lab-based assessments. The remaining 30 per cent of the final grade comes from a two-hour class test in February.

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7.2.5

Microeconomics 1 Edinburgh Edinburgh

ECNM11023 Andrew.Clausen@ed.ac.uk ahmed.anwar@ed.ac.uk

Instructors Andrew Clausen Ahmed Anwar*

Objectives To give students a command of the main tools of microeconomic analysis, so that they can undertake advanced work in areas such as modern micro-founded macroeconomics, industrial economics, public economics, labour economics, environmental economics, international economics and finance; and to show how such microeconomic analysis can be applied in making the transition from theoretical models to policy models. Textbooks The basic textbooks to be used are: - Mas-Colell, A., M.D. Whinston and J.R. Green, Microeconomic Theory (OUP, 1995). - Varian, H.R., Microeconomic Analysis, 3rd ed. (Norton, 1992). - Jehle, G.A. and P.J. Reny, Advanced Microeconomic Theory, 2nd ed. (AWL, 2001). Course Outline 1. Consumption, Production and Equilibrium (A Clausen) 2. Uncertainty, Bargaining and Auctions. (A Anwar) Semester: Weeks 1:1-5 1:6-9

Assessment Class exam in December counting for 25 per cent of the final mark. Final examination in the in the April/May diet, counting for 75 per cent of the final mark. 7.2.6 Microeconomics 2 Edinburgh Edinburgh ECNM11025 sgpe@ed.ac.uk ahmed.anwar@ed.ac.uk

Instructor Prof John Hardman Moore

Course Coordinator
Ahmed Anwar* Objectives To give students a command of the main tools of microeconomic analysis, so that they can undertake advanced work in areas such as industrial economics, public economics, labour economics, environmental economics, international economics and finance; and to show how such microeconomic analysis can be applied in making the transition from theoretical models to empirical/policy models. Textbooks The basic textbooks to be used are: Mas-Colell, A., M.D. Whinston and J.R. Green, Microeconomic Theory (OUP, 1995). H.R. Varian, Microeconomic Analysis, 3rd ed (Norton, 1992) Course Outline Uncertainty, Information and Incentives (J Hardman Moore) Semester: Weeks 2:1-5

Assessment Final examination in the in the April/May diet, counting for 100 per cent of the final mark.

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7.2.7

Econometric Project Heriot-Watt M.E.Schaffer@hw.ac.uk

Instructor Prof Mark E. Schaffer*

The Econometrics Project is a group project in which students form small teams and work on a practical empirical topic using modern econometric techniques. Students (i) identify precise hypotheses that can be tested empirically, (ii) familiarise themselves with the relevant literature, (iii) work with a dataset which enables them to test their hypotheses, (iv) use appropriate econometrics software to analyse the data and test the hypotheses in question, (v) present their results to an audience, and (vi) write up the whole exercise as a group project. Student will present at the Methodology Conference at Crieff in January, and will later write up and submit their project for a mark later in Semester 2.

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7.3

Options Courses

Students choose three option courses from the list below at the end of September. Although you will have the opportunity to change your choices in January if necessary, you should take your initial option choice decision seriously. All options consist of six three-hour lectures. These lectures will run weekly from the mid February to early April. The information below is the most up-to-date at the time the handbook went to press but is mostly based on the courses as they were taught in previous year. There may be changes in personnel and course content nearer the time of their commencement. An asterisk beside a name indicates the course coordinator. Please check Learn for updates. Students taking the Economics (Finance) degree choose three from: Advanced Time Series Econometrics, Asset Pricing, Corporate Finance, International Money and Finance, and Experimental Economics and Finance. Students taking the Economics degree may not choose Asset Pricing or Corporate Finance. NB: We will do our utmost to run all of these options as advertised here. However there may be extenuating circumstances in which one or more option has to be withdrawn. Examples would be an option class with exceptionally low enrolment to whom the relevant teachers are not prepared to teach and unexpected last minute ill health of a key lecturer where no reserve was available. 7.3.1 Advanced Topics in Macroeconomics St. Andrews Glasgow Glasgow ECNM11005 LL5@st-andrews.ac.uk c.b.leith@lbss.gla.ac.uk Ioana.Moldovan@glasgow.ac.uk

Instructors Dr. Laurence Lasselle* Prof. Campbell Leith Dr. Ioana Moldovan

Objectives The course extends the core macroeconomics course to new developments in intertemporal macroeconomics, economic integration, and real business cycle theory. These are topics of key importance in contemporary macroeconomics, and should be taken by students who plan to do a PhD on mainstream macroeconomic theory or applied macroeconomics. Course Outline The course will be divided into three main components as follows: Component 1: (Dr Lasselle) The main aim of this component is to introduce the students to the most relevant issues and developments of dynamic modern macroeconomics based on a specific model: the Overlapping Generations Model. The key assumption in this model is the heterogeneity of the agents, i.e. at each instant of time there are two generations, the young and the old. This set up is useful for analysing the implications of introducing intergenerational issues into a simple neoclassical general equilibrium model, and for discussing the role of public policy (e.g. social security systems) on the allocation of the economys resources across generations. (6 hours). Component 2: (Professor Leith) This component offers an introduction to the New Keynesian analysis of monetary policy, where monetary policy has real effects due to the assumption of sticky prices. The first lecture will derive both the benchmark New Keynesian model and the quadratic approximation to the utility of the economic agents populating the economy. Utilising this benchmark model, and the micro-founded objective function, the second lecture shall explore a number of issues in optimal monetary policy design namely, the description of policy under discretion and full commitment, and the attendant problems of inflation and stabilisation biases. (6 hours).

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Component 3: (Dr. Moldovan) This component examines New Keynesian models of the business cycle. The first lecture will provide a detailed derivation of a state-of-the-art medium scale New Keynesian model that accounts for a variety of nominal and real frictions which are important for understanding the business cycle The second lecture will then consider: a) design of monetary policy in a medium-scale model; b) recent developments in the modelling of consumers behaviour (Rule of- thumb consumers), that pave the way for introducing unorthodox fiscal stabilisation policies. (6 hours). Textbooks and Reading The course will be mainly structured around a number of advanced graduate textbooks in macroeconomics. These will be supplemented with articles from recent issues of the main US, European and UK academic journals. Assessment One, two-hour final examination in April/May. Students will have to answer three questions, one from each of three sections (Section A Component 1, Section B Component 2, Section C Component 3).

7.3.2

Advanced Topics in Microeconomics tatiana.kornienko@ed.ac.uk e.hopkins@ed.ac.uk jozsef.sakovics@ed.ac.uk

ECNM11006

Instructors Dr. Tatiana Kornienko Edinburgh, Prof. Ed Hopkins Edinburgh, Prof Joszef Sakovics* Edinburgh

Objectives The course aims to widen and deepen the acquired knowledge in the core microeconomics course, especially including the vocabulary and tool kit for analysing economic situations involving conflict and interdependency. Course Outline Advanced Theory of Auctions, Contests and Tournaments Repeated Games Behavioural and Evolutionary Game Theory Indicative Reading C. Holt, Markets, Games, & Strategic Behavior, Addison Wesley, 2006. R. Gibbons, A Primer in Game Theory, Harvester/Wheatsheaf, 1992. V. Krishna, Auction Theory, Academic Press, 2002. M. Osborne and A. Rubinstein, A Course in Game Theory, MIT Press, 1995. E. Wolfstetter. Topics in Microeconomics: Industrial Organization, Auctions, and Incentives, CUP, 2002. Assessment One two-hour final examination 7.3.3 Advanced Topics in Microeconometrics Stirling ECNM11048 liam.delaney@stir.ac.uk

Instructors Prof Liam Delaney*

Prof Juergen Bracht

Objectives

Aberdeen

juergen.bracht@abdn.ac.uk

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This module explores further topics in applied econometrics. Students will be introduced to various tools that are part of the basic econometric training of professional economists. The course is intended for students who want to be professional economists or who want to go on to PhD study, i.e. at aspiring economists rather than aspiring econometricians. Course Outline The first part of the syllabus is devoted to the Generalised Method of Moments or GMM. GMM was introduced by Hansen (1982) and is now a key tool in the applied economists toolbox . GMM has a number of other attractive features: it accommodates problems and data structures that show up frequently in econometrics, such as endogeneity and causal effects, heteroskedasticity, autocorrelation, and time series and panel data; it often provides a way of linking priors from economic theory to specific estimation strategies; and it is flexible and extendable, i.e. various apparently complex estimation problems can be written down as simple GMM estimators. Other topics covered in this part of the course include specification testing in the GMM framework and the weak identification problem and weak-identification-robust estimation. The second part of the syllabus is devoted to selected advanced topics in econometrics. These topics vary from year to year. Past topics have included dynamic panel data models; estimators for heterogeneous treatment effects; differences-in-differences estimators; regression discontinuity design; and exact and propensity-score matching estimators. Selected Reading Bruce Hansen, Econometrics (2010). Available at no cost for educational or personal use at http://www.ssc.wisc.edu/~bhansen/econometrics/. Fumio Hayashi, Econometrics (Princeton University Press 2000). Angrist, Joshua D. and Jrn-Steffen Pischke, Mostly Harmless Econometrics: An Empiricist's Companion (Princeton University Press, 2009). Wooldridge, Econometric Analysis of Cross Section and Panel Data Assessment Assessment will be by a 2-hour exam in April / May. 7.3.4 Advanced Time Series Econometrics Strathclyde julia.darby@strath.ac.uk

Instructor Prof Julia Darby*

Objectives This module explores further topics in time series econometrics, beyond Econometrics 2. Students will be introduced to various tools that are part of the basic econometric training of professional economists. The course is intended for students who want to be professional economists or who want to go on to PhD study. It also is very relevant to those planning to work or research in finance and/or macroeconomics. Key Topics The class covers two key topics, with a practical focus. Modelling Volatility Financial time series, particularly when captured at high frequencies, often exhibit volatility clustering. For example, the variance of stock returns can be high for extended periods and then low for extended periods. When this occurs, making the assumption that residuals are iid is unconvincing. Our modelling techniques need to be capable of capturing both periods of turbulence and tranquillity. One way to model volatility clustering is to allow the residual variance to depend upon its own history, so that a large realisation of the current period disturbance increases the conditional variance

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in subsequent periods. ARCH and GARCH modelling techniques have this property. We will look at this class of estimators and investigate their practical application. Reading: Enders Chapter 3 and Verbeek Chapter 8, section 8.11. Cointegation and Error-Correction Models The concept of cointegration relates identifying equilibrium relationships among sets of nonstationary variables. The notion of equilibrium is best seen as a long-run concept, and has a clear interpretation in economics. Error correction models are a specific class of dynamic model in which short-run dynamic adjustment is influenced by deviation from equilibrium. Combining cointegration and error correction is intuitively appealing in that dynamics and the long-run are inherently linked. A key feature of a cointegrating relationship is that at least some of the variables involved must respond to deviation from equilibrium in a direction consistent with the system returning to equilibrium. We'll discuss these concepts and the modelling techniques that allow us to both test for cointegration and build and evaluate dynamic error correction models. We'll also look at some practical applications of the techniques. Reading - Enders Chapter 6 and Verbeek Chapter 9. Textbooks: Enders: Applied Time Series Econometrics, Wiley. Verbeek: A Guide to Modern Econometrics, Wiley. Timetable: Lectures and tutorials will together take up 3 hours per week throughout the six week options block (scheduling TBC). Assessment : 100% Final exam in the April/May exam diet. 7.3.5 Asset Pricing ECNM11049 Y.F.Chen@dundee.ac.uk o.klinkowska@abdn.ac.uk tim.worrall@ed.ac.uk

Instructors Dr Yu-Fu Chen* Dundee Dr Olga Klinkowska Aberdeen Professor Tim Worrall Edinburgh

Objectives The aim of the module is to provide students with a good foundation in asset pricing, by using a blend of theoretical concepts, empirical evidence and some applications of the theory. The intention is for the students to increase their knowledge and understanding of modern finance theory. Within this context, the module covers the following topics: mean-variance analysis, the Capital Asset Pricing Model, the Arbitrage Pricing Theory, derivatives pricing; market microstructure with respect to Efficiency Market Hypothesis, security exchanges, asymmetric information and noise traders; behavioural finance and Individual portfolio choices. Reading and further details will be uploaded to Learn in January/February. Assessment Final examination in the April/May diet 7.3.6 Corporate Finance Edinburgh Edinburgh ECNM11032 seth.armitage@ed.ac.uk tim.worrall@ed.ac.uk

Instructors Professor Seth Armitage Professor Tim Worrall*

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The aim of the module is to develop students knowledge and understanding of corporate finance theory and empirical evidence, specifically in the areas of capital structure, payout policy, corporate governance, and new equity issues. Course Objectives To overview the main theoretical and empirical developments in explaining firms decisions on capital structure, payout policy, equity financing, executive compensation, mergers and acquisitions, and other corporate finance issues. To overview the ways in which researchers have analysed these issues theoretically and tested their empirical predictions. Lectures The module consists of 18 lecture hours: Part 1 consists of a three-hour lecture on capital structure; Part 2 consists of two three-hour lectures on corporate governance; Part 3 consists of a three-hour lecture on new equity issues; Part 4 consists of a three-hour lecture on executive compensation and Part 5 consists of a three-hour lecture on payout policy. Reading: Individual readings for the separate parts of the course are provided below. There are a number of good texts on corporate finance. Four such books are: Brealey, R., Myers, S. and Allen, F., (2011), Principles of Corporate Finance, McGraw-Hill. Berk, J. and DeMarzo, P. (2011), Corporate Finance. Pearson. Smart, S.B., Megginson, W. & L. Gitman (2009), Corporate Finance, South-Western. Tirole, J., (2004), The Theory of Corporate Finance, Princeton University Press. Since each of these is a large book and we will only cover a very limited number of chapters they include, none are required purchases. Assessment: Final examination in the April/May diet. 7.3.7 Development Economics Heriot Watt Heriot Watt St Andrews ECNM11030 P.LeMay-Boucher@hw.ac.uk catherine.porter@economics.ox.ac.uk gff2@st-andrews.ac.uk

Instructors Dr Philippe LeMay-Boucher* Dr Catherine Porter Dr Gonzalo Forgues-Puccio

Objectives The course aims at providing students with an introduction to the recent research in development economics. As the following key themes indicate the focus will be on inequality and poverty, market imperfections, demographic changes, institutions, corruption and various governance issues in the context of economic development. Students will be exposed to a blend of theoretical models and empirical applications enabling them to get a better understanding of the obstacles to economic development. Key Themes:

Inequality and poverty. Demographic Changes. Households in developing countries. Informal insurance, microcredits. Corruption

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General Readings Acemoglu, D. and J. Robinson, Economic Origins of Dictatorship and Democracy, Cambridge University Press, 2006. Bardhan P. and C. Udry, Developments Microeconomics, Oxford University Press, 1999. Bardhan P., Scarcity, Conflicts and Cooperation, MIT Press, 2005. Ray D., Development Economics, Princeton University Press, 1998. Basu, K., Analytical Development Economics, MIT Press, 2002. Assessment Final examination in the April/May diet. 7.3.8 Development and Methodology of Economic Thought ECNM11008

Instructors Prof Rod Cross Strathclyde Dr Robert McMaster* Glasgow

rod.cross@strath.ac.uk robert.mcmaster@glasgow.ac.uk

Objectives The aim of this course is to promote an appreciation of how economic theory has evolved, in terms of the questions addressed, the types of theory developed to answer these questions, and the philosophical presuppositions of these theories. Lectures provide material on the background, content and assumptions of economic theories and on their comprehension of the appropriate methods of investigation into economic phenomena. The lectures provide guidance as to how particular economic doctrines and more general philosophical and methodological issues may be interpreted and judged. Students' own reading is an essential input to the course: through this reading students can develop their own interpretive and evaluative skills. Students can expect at the end of the course to be better equipped to make their own choices as to questions, theories and approaches, and to understand better the scope and limitations of economic theory. Outline: The course covers the history of economic thought and of ideas concerning the appropriate methods of enquiry in economics, from the pre Enlightenment period up to the present day with particular emphasis on important developments. The treatment will be roughly chronological, with historical and philosophical material interspersed in a relevant manner. The material will be accessible to those who have not previously taken courses in the history of economic thought or the theory of scientific method. The course is organised around six 3-lecture sessions. A lecture outline is set out overleaf with recommendations for initial and background reading. A more detailed outline then follows with topic specific reading recommendations. Recommended Initial Reading Milonakis, D. and Fine, B. (2009) From Political Economy to Economics: Method, the Social and the Historical in the Evolution of Economic Theory, Routledge: London Screpanti, E. and Zamaggni, S. (2005) An Outline of the History of Economic Thought, Oxford University Press: Oxford. Course Outline 1. Introduction to the Philosophy of Science Applied to Economics 2. Classic Contributions: Smith and Marx 3. The Shaping of Economics: Two Disputes and the Rise of One Giant Keynes 4. Economics and Method The Last Positivists, or the Re-ascent of Thorstein Veblen? 5. Theory Appraisal and Post-1945 Macroeconomic Theory.

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6. Theory Appraisal and Post-1945 Macroeconomic Theory. Assessment Assessment will be by a 2-hour final examination. 7.3.9 Economic Policy Strathclyde Strathclyde Strathclyde Scottish Government Scottish Government Scottish Government ECNM11016 r.e.wright@strath.ac.uk giuseppe.defeo@strath.ac.uk julia.darby@strath.ac.uk Simon.Fuller@scotland.gsi.gov.uk Andy.Park@scotland.gsi.gov.uk Kathy.Johnston@scotland.gsi.gov.uk

Instructors Robert Wright* Giuseppe De Feo Prof Julia Darby Simon Fuller Andy Park Kathy Johnstone

(NB Named Scottish Government economists participating in delivering this course may change) Objectives The aim of this course is two-fold. The first is to present the student with a series of topics that are currently policy relevant. The second is to provide the student with an understanding of how economics can be used to enlighten the debate surrounding these topics. The topics of this course will be reviewed annually in order to ensure that the course remains current. This course should be particularly of interest to those students interested in pursuing a career as an economist with the civil service. Topics taught recently included UK productivity performance, policy evaluation and the usefulness of social and natural experiments, UK housing and regional policy. Teaching The course consists of six 3 hour lectures each covering a distinct policy area. Each lecture will be delivered by a recognized expert. The lecturers will mainly be from the SGPE teaching staff but may also be from the Government, the Scottish Economic Policy Network, and other academic and research institutions. Background Reading Atkinson, B., P. Baker and B. Milward, (1996), Economic Policy, Basingstoke, Palgrave-Macmillan Assessment Final examination in the April/May diet. There will be one question from each of the six topics and students must answer any two but must not select the question corresponding to their chosen essay topic. Weight: 70 per cent of final grade

7.3.10 Experimental Economics and Finance Instructors Miguel Costa-Gomes* St Andrews Prof Juergen Bracht Aberdeen

miguel.costa-gomes@st-andrews.ac.uk juergen.bracht@abdn.ac.uk

Objectives: The course introduces experimental economics and finance, with an eye toward preparing students to design experiments they can run themselves. Course outline:

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Topics lie in two spheres: experimental methodology and major findings of strands in the literature on experimental economics and finance. * Experimental methodology: The goal is to enable students to design and run laboratory and field experiments successfully. This section comprises both procedures commonly recognised as good practice and issues for which there is - as yet - no clear consensus. Areas include ethical concerns involving human participants, motivation of subjects and statistical techniques. * Strands of experimental research: The goals are twofold. First, to give students an overview of the literature in experimental finance and economics. Second, to enable students to identify promising areas for future experiments. Areas include experiments designed to test economics and finance theories, experiments designed to discover stylised facts, experimental work applied to policy questions, as well as work seeking to unify experimental results. Assessment: Final examination in the April/May diet 7.3.10 Economics of Labour Markets Prof Tim Barmby* Ric Holt Aberdeen Edinburgh ECNM11009 tim.barmby@abdn.ac.uk Richard.Holt@ed.ac.uk

Course Outline The module will examine the theories and empirical evidence concerning the way that labour markets work. This is a very active area of current research, and will be of interest to students interested in the application of core theory to the real world. The first half of the module will examine theories and empirical evidence relating to human capital, labour supply, contracts and incentives. The second half of the module will examine theories and empirical evidence relating to impact of technical change and globalisation in understanding labour market inequality. Reading: Pierre Cahuc and Andre Zylberberg, Labor Economics, 2004 MIT Press and relevant journal articles. Assessment Final examination in the April/May diet 7.3.11 Environmental and Natural Resource Economics Instructors Mr. Roger Perman* Prof Nick Hanley Strathclyde Stirling ECNM11028

r.perman@strath.ac.uk n.d.hanley@stir.ac.uk

Objectives The course intends to provide students with an introduction to the application of economic theory to the subject area. There is a strong focus on policy issues and policy remedies to identified problems, and the course will be structured around an organising theme of sustainability. Students should have developed a good awareness of the major literature in the area and be able to apply the relevant tools of economic analysis (which in some cases they will have met in other parts of the course) to the identified problems. This extends to an appreciation of the policy implications of issues developed during the course and to the quality of available policy instruments. Assessment The course is assessed through a degree examination of two hours and a coursework essay. Each of these will account for 50% of the final class mark. Essential Reading

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R. Perman, Y. Ma, J. McGilvray and M. Common, Addison Wesley Longmans, 2003, Natural Resource and Environmental Economics (Third Edition). Hanley N, Shogren J and White B. Palgrave, Environmental economics in theory and practice. (2nd edition). Course Outline 1-2 Environmental and Natural Resource Economics: Efficiency and Optimality Sustainability 3 Environmental Pollution 4-5 Environmental Valuation, Cost-Benefit Analysis and Sustainability 6-7 Economics of Climate Change Assessment The course is assessed through a final examination in the April/May diet and a coursework essay. Each of these will account for 50 per cent of the final mark. 7.3.12 Health Economics Instructors Dr Marjon van der Pol* Dr Verity Watson Dr Paul Allanson Professor Bob Elliott Aberdeen Aberdeen Aberdeen Aberdeen ECNM11013 m.vanderpol@abdn.ac.uk v.watson@abdn.ac.uk p.f.allanson@dundee.ac.uk r.elliott@abdn.ac.uk

The course is coordinated from the Health Economics Research Unit (HERU) at the University of Aberdeen (http://www.abdn.ac.uk/heru). HERU is one of the leading health economics units. Objectives Health economics applies economic thinking to the analysis of health and health care. It is a relatively young sub-discipline but has grown rapidly. There are numerous graduate job and career opportunities in health economics nationally and internationally, in both private and public sectors. The course covers the core topics of health economics. It is not necessary to have studied health economics previously to benefit from this module and it will complement a broad range of other options. The course emphasises a participative and cooperative approach to learning, and so you will be expected to both present material and contribute to group work. Course Outline Session 1 Introduction to Health Economics, Markets and market failure in health care Preparation for Group Work Session 2 Economic Valuation of Life and Health Approaches to economic evaluation Utility measurement of health Session 3 Cost-benefit analysis in health

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Session 4 Reports on Group Work Economics of health behaviours Session 5 Health inequalities Session 6 Economics of the health workforce Readings Session 1 Culyer AJ, Newhouse JP (2000) Introduction: the state and scope of health economics. In Culyer AJ and Newhouse JP (eds), Handbook of Health Economics, p.1-7, Elsevier, Amsterdam. Arrow KJ. (1963) Uncertainty and the welfare economics of medical care. American Economic Review 53(5): 941-973. Session 2 Session 3 Session 4 Session 5
Zweifel P, Breyer F,Kifman M (2009) Health Economics, Second Edition. Dordrecht Springer, Chapter 2.

Session 6

Zweifel P, Breyer F,Kifman M (2009) Health Economics, Second Edition. Dordrecht Springer, Chapter 2. Cawley J, Rhum CJ (2011) Economics of Risky Health Behaviours. In Pauly MV, McGuire TG, Barros PP (eds), Handbook of Health Economics, p.95200, Elsevier, Amsterdam. O'Donnell, O., Wagstaff, A., Van Doorslaer, E., Lindelow, M. (2008) Analyzing health equity using household survey data: a guide to techniques and their implementation. The World Bank, Washington, D.C. Chapters 1, 79, 13. http://siteresources.worldbank.org/INTPAH/Resources/Publications/4598431195594469249/HealthEquityFINAL.pdf Nicholson S. Propper C. (2012). Medical Workforce. In Handbook of Health Economics, Elsevier, Amsterdam.

Detailed reading: a list of detailed reading for each session will be provided by the lecturers. Assessment Assessment for this option will be as follows: Group work presentation: 30% Final Examination during the main April May diet: 70% The exam will have three sections with two questions in each section. Students will be required to answer one question from each section. For any questions about the course please contact Marjon van der Pol (m.vanderpol@abdn.ac.uk) 7.3.13 Industrial Organisation NOT RUNNING IN 2014 Instructors Dr Alex Dickson Strathclyde TBC ECNM11014

alex.dickson@strath.ac.uk

Objectives The aims of the course are threefold: (a) to enable students to make intelligent access to the research literature in Industrial Economics; (b) to provide illustrations of areas of application of both advanced microeconomics and applied econometrics as developed in courses elsewhere on the programme; (c)
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to facilitate the cultivation of skills in industrial economics to a level which would lay the basis for research work within academia or industry. The focus is primarily on dynamic issues of Industrial Organisation relating to entry, product differentiation innovation etc. Course Outline Classic models of oligopoly: Cournot, Bertrand, Stackleberg Dynamic issues of entry: strategic entry deterrence and accommodation Excess Entry Theorem Consumer Models of Product Differentiation: Variety, Horizontal, Vertical Innovation: R&D, patents, Research Joint Ventures Indicative reading J. Tirole (1988) Industrial Organization. MIT Press. K.Basu (1993) Lectures in Industrial Organization Theory, Basil Blackwell (Paperback). S.Martin (1993) Advanced Industrial Economics, Basil Blackwell (Paperback). O.Shy (1996) Industrial Organization, MIT Press. See also: R.Schmalensee and R.Willig (eds.) (1989) Handbook of Industrial Organisation, Vols. I & II, North Holland Assessment Final examination in the April/May diet. The paper has two sections, with two questions in each section. Candidates must answer two questions, one from the first section and one from the second section. 7.3.14 International Money and Finance Instructors David Cobham* Boulis Ibrahim Rodolphe Desbordes Heriot Watt Heriot Watt Strathclyde ECNM11015 d.cobham@hw.ac.uk b.m.ibrahim@hw.ac.uk rodolphe.desbordes@strath.ac.uk

Objectives: The course aims to cover the major recent developments in the field of International Money and Finance. The course consists of a blend of theoretical, applied econometric and institutional material. Provisional Lecture topics: Exchange rate and monetary policy regimes since Bretton Woods II Real and nominal exchange rate behaviour The macroeconomic determinants of exchange rates Information transmission within and between international stock markets Determinants and effects of foreign direct investment (FDI) Reading: Most of the reading material recommended by lecturers will take the form of journal articles and will be distributed during lectures Assessment Final examination in the April/May diet.

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7.3.15 International Trade Instructors Dr Catia Montagna Prof. Ian Wooton * Dundee Strathclyde

ECNM11016 c.montagna@dundee.ac.uk ian.wooton@strath.ac.uk

Objectives This course is intended to explain the reasons that countries trade with each other and the benefits that arise from this trade; to demonstrate the role of governments in regulating international trade in order to promote national interests; to give an insight into the nature and causes of trade arising between and within imperfectly competitive industries; to provide an understanding of the determinants of the spatial location of production; to explain why industry may agglomerate; and to examine the economics of regional integration. Course Outline Trade and comparative advantage Bases for trade; gains from trade; impact on factor earnings Market structure and trade (IW) Bilateral monopoly and reciprocal dumping Trade policy and negotiations (IW) Effects of tariffs; incentives for trade liberalisation; institutional arrangements; strategic trade policy Monopolistic competition, increasing returns and industry location (CM) Intra-Industry Trade; Spatial agglomeration; core-periphery patterns of development Firm selection and industry reallocation effects of trade (CM) Cost heterogeneity; exporters, non-exporters and MNEs. Trade, FDI and the organisation of firms (CM) Outsourcing; integration strategies Reading: Markusen, J R., J R. Melvin, W H. Kaempfer, and K E. Maskus, International Trade: Theory and Evidence, McGraw-Hill International Edition, New York 1995, Free download from http://spot.colorado.edu/~markusen/textbook.html. Paul Krugman: Geography and Trade, MIT Press, 1991, ISBN 0-262-61086-8. Grossman, Gene M., (ed.), Imperfect Competition and International Trade, MIT Press, 1992. Barba Navaretti, G. and A. J. Venables, Multinational Firms in the World Economy, Princeton University Press, 2004. Additional sources for specific parts of the course will be recommended in the lectures. Assessment Final examination in the April/May diet

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7.3.16 Topics in Economic History Instructors Prof. Mark Schaffer* Dr. Gary Shea Heriot-Watt University St. Andrews University

ECNM11041 m.e.schaffer@hw.ac.uk gss2@st-andrews.ac.uk

Objectives This course explores selected topics in economic history. The specific mix of topics will vary from year to year, but will be drawn from a wide range of eras and subjects: prehistoric and pre-industrial revolution economies; the industrial and financial revolutions of the 17th-19th centuries; the economics of slavery in the US; financial and economic crises of the 20th century; energy policy since 1945; and natural experiments in economic history. Course outline and selected indicative readings: General: Gregory Clark (2007), A Farewell to Alms: A Brief Economic History of the World, Princeton University Press. Pre-industrial revolution/Malthusian economies: Clark (2007), op. cit., chapters 2-3. Richard Wrangham et al. (1999), The Raw and the Stolen: Cooking and the Ecology of Human Origins, Current Anthropology, Vol. 40, No. 5. Jared Diamond (1987), The Invention of Agriculture: The Worst Mistake in the History of the Human Race, Discover. The economics of the Roman Empire Peter Temin (2006), The Economy of the Early Roman Empire, Journal of Economic Perspectives, Vol. 20, No. 2, Winter. Walter Scheidel and Steven J. Friesen (2009), The Size of the Economy and the Distribution of Income in the Roman Empire, Journal of Roman Studies, Vol. 99. The economics of American slavery: Alfred H. Conrad and John R. Meyer (1964), The Economics of Slavery and Other Studies in Econometric History, Aldine Publishing Company, Chicago. Robert W. Fogel (1989), Without Consent or Contract: The Rise and Fall of American Slavery, W. W. Norton & Co. Robert W. Fogel and Stanley L. Engermann (1989), Time on the Cross: The Economics of American Negro Slavery, W.W. Norton & Co. Energy policy since 1945 Martin Chick (2007), Electricity and Energy Policy in Britain, France, and the United States since 1945, Edward Elgar Publishing. P. Joskow (2001), California's electricity crisis, Oxford Review of Economic Policy, 17 (3), 365-88 Natural experiments in economic history: J. Diamond and J.A. Robinson (2010): Natural Experiments of History, Harvard University Press. R. Morck and B. Yeung (2011), Economics, History, and Causation, NBER Working Paper No. 16678. Assessment Assessment will be by a 2-hour exam in the April/May exam diet.

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The Dissertation

The dissertation is an extended piece of scholarship in which you have the opportunity to study in depth a topic largely of your own choosing. It is the component of a masters programme which most clearly differentiates it as an advanced degree programme, and is the point at which the stud ent progresses from structured coursework to independent study. General guidance and advice about dissertations can be found in Section 7 of the Code of Practice for Taught Postgraduate Programmes: The remainder of this section gives more specific guidance and advice for SGPE students. 8.1 Length and Deadlines

You will have two deadlines one in Spring for your proposal and one for the final dissertation. 8.1.1 Guidelines and deadline for Submission of Topic, Supervisor and Bibliography

You must identify a topic and a supervisor who is both suitable and willing to supervise your dissertation over the summer (see here for a list of participating staff). You should prepare a proposal which covers the aims and justification of the dissertation, specific research questions, and a provisional outline of chapter titles and subheadings. There should also be a written plan or timetable indicating how the work is going to be undertaken and a rough timetable of either face to face meetings or email consultations (or both) with your supervisor that will take place over the summer at critical points. Be aware that supervisors are often away at conferences etc. during the summer months. Prearranging contact before the beginning of the summer, particularly email contact is essential. (See below for further guidance on your responsibilities and the role of the Dissertation Supervisor) Your title, a proposal and a short bibliography of indicative reading must be submitted to the Programme Administrator by 12pm on the last Friday of the spring options teaching (4th April 2014). This deadline is very important. A penalty of 1% of your dissertation mark per working day late may be applied to those students who submit their outlines after the deadline. 8.1.2 Change in Topic or title

A change of topic or proposal from that submitted may be possible but the change must be discussed with and approved by the Supervisor and Programme Director. After receive approval of the topic change you should email the programme office to let them know. If the topic will remain the same but you have a small change in title you should email the Programme office (and cc your supervisor) in advance of submitting your final dissertation. 8.2 Dissertation Deadline

The dissertation is to be handed in and a copy emailed to the SGPE office by 12pm on Monday 18th August 2014. Additionally you must submit your dissertation to the Turnitin Link in Learn. The dissertation must be between 8,000 and 10,000 words in length. Students are asked to submit two hard copies of their dissertation, one for each of the first and second markers, one electronic copy via

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email to sgpe@ed.ac.uk and must also upload an electronic copy to JISC for plagiarism detection.(See Section 6 of this handbook). As with the outline deadline the penalty for late submission of dissertations is 1% of your dissertation mark per working day late. 8.3 Presentation of Dissertation

The dissertation must be neatly typed or printed on a single side of A4 paper. It should be double spaced and using a 12 point font on a single side of A4. It should be accompanied by a cover sheet (which will be available on Learn) and should contain the following information: the Degree programme, the students name and matriculation number, the dissertation title and supervisor and a signed disclaimer stating that the dissertation is all the students own work and that all other works discussed or referred to have been cited. It does not need to be hardbound but it must be held firmly together by some means. It should also be word-processed. If this presents significant difficulties, then in the first instance, have a word with the your Personal Tutor, the Programme Administrator or the Programme Director The presentation of dissertations for taught masters programmes is governed by regulations the General Postgraduate Regulations, University of Edinburgh Degree Regulations and Programmes of Study (DRPS) and further information may be found in A Code of Practice for Taught Postgraduate Programmes 8.4 Role of Dissertation Supervisor

The supervisor will guide you to focus your studies; help you to plan and outline your dissertation; help to ensure that you have the resources you need to complete the work; advise you on the relevant literature; make constructive suggestions both at the planning stage and in response to material you give them. Having obtained his/her agreement to supervise you, you should have three kinds of meeting or email consultation sessions with your dissertation supervisor. (i) The first contact, which would typically be face to face rather than via email, should cover the dissertation subject. The subject should be closely related to the proposed topic for your PhD, if it is your intention to proceed to the PhD. You should agree the proposed scope and structure of the dissertation, and set out a general timetable for work over the summer, including dates for future meetings with your supervisor. The initial meeting should be set up as soon as possible after your exam results are known. At the end of this meeting, the student should be able to set out a formal planned structure for the dissertation, preferably in the form of a table of contents. The next series of contacts will typically be email and will enable the dissertation supervisor to monitor the progress of the student and will also address problems as they arise in the dissertation. In addition, some written work may be submitted either physically or via email attachment. The precise number of such meetings/contacts is a matter to be agreed between the student and the supervisor. IMPORTANT: your supervisor can give feedback on one completed chapter of the dissertation but is forbidden from reading and giving feedback on a final draft of the whole dissertation)

(ii)

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If students do not keep in contact with their supervisor and do not submit work as agreed, the supervisor should alert the SGPE office. 8.5 Students responsibilities regarding the Dissertation

It is the students responsibility arrange the meetings, plan their work, submit material at agreed times and record their progress and plan of work; It is the students responsibility to ensure that they know when their supervisor is available over the summer and make arrangements to contact him/her. Responsibility for the academic quality of the dissertation rests entirely with you, the student. Students encountering difficulties with supervisors should contact the SGPE office or their personal tutor as soon as any problems emerge. 8.6 Objectives of the dissertation

A principal role of the dissertation is to give the student the opportunity to write extensively on a subject cognate with the proposed topic for his/her PhD, or to explore in greater depth an issue cognate with the material covered in one of the option papers. Exceptionally students may investigate areas not covered in one of their options but should consult the Programme Director first before embarking on such a course of action. The dissertation will assist the examiners to assess the students ability to carry out economic research at the postgraduate level. The precise subject is a matter to be discussed with your supervisor, and the appropriate approach will depend on the subject chosen. However, you may find the following observations helpful. The dissertation should not simply be a broad survey of a large existing literature. Rather it should focus on a specific hypothesis or problem, and the relevant literature should not simply be replicated. The examiners will be looking for signs that the student can use the existing literature as part of a particular argument. The notion of originality is one of degree rather than one of kind, and frequently interesting results emerge from applying sound analytical reasoning to seemingly well-covered areas in the literature. A good dissertation is one that combines description with an analysis that is driven by a defined theoretical framework. The examiners will be looking for an ability to use, critically, the work already published in the field in question to draw some conclusions about the hypothesis or problem which your dissertation is confronting. These conclusions might include some (more or less) detailed suggestions about what further work might be done in the area, discussing both problems and relevance of such work. The dissertation should show progression in the sense that it should use and draw on MSc level materials. In particular, when assessing the dissertation, examiners ask themselves the key question could this dissertation have been written by someone who had not studied the MSc or its cognate literature? If the answer to this question is yes then the dissertation will not be awarded an MSc pass mark of 50%. Of the pitfalls the student could fall into the worse one of all is writing about something which, although tremendously interesting and important in some sense, does not involve displaying the skills or knowledge acquired during the MSc coursework to any great degree. If you have any doubts at all about the proposed subject matter of your dissertation you should consult the Programme Director for advice prior to getting started. Modern Economic investigation usually involves developing analytically well-defined theories and/or testing such theories.5 The dissertation may therefore contain empirical work but it is not essential. If empirical work is undertaken it is important to consult first with the supervisor or Programme
5

Some exceptions may occur in the area of economic methodology and economic thought where various modes of economic investigation are scrutinised at a philosophical and reflective level.

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Director to confirm that the ambition and scope of such work is not beyond normal time and work input constraints. Alternatively the dissertation could focus purely on theoretical work. In this case students should be careful to synthesise the models and theories they find in the literature in an original and concise way. In particular, writing something that appears to be a shopping list of theories should be avoided. You should also view the existing literature in a critical way pointing out what you believe to be its weaknesses and strengths and possibly making suggestions for improvements or new directions for future work. One further type of dissertation would focus on a topical economic issue or controversy that has been debated in the popular press and analyse this issue rigorously using the tools and knowledge acquired during the MSc programme. There could be no better way of displaying a deep understanding of what you have learnt than to apply it (correctly!) to solve or analyse the burning economic issues of the day. The pitfalls of writing journalese i.e. falling into the trap of failing to display the knowledge and skills you acquired on the MSc, referred to above, are even more dangerous for students attempting to write this type of dissertation. MEETING There will be a compulsory two hour lecture given by Professor Jonathan Thomas after the June exam board during which he will give advice on the writing of a dissertation and how to avoid plagiarism. Please read the advice above as well as the section on plagiarism and come prepared with any questions you may have.

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SUPPORT AND GUIDANCE

As mentioned previously, most questions you might have can be directed either at your Personal Tutor or the SGPE Office. If youre not sure who to ask, just ask one of us and well help you. There are also a number of links that may be helpful at the back of this handbook Information about other support services provided by the University Further information about support services is also provided by the University is given in Appendix IV of A Code of Practice for Taught Postgraduate Programmes The following is a list of various matters about which we think might be useful to you. 9.1 Visa Information & International Office

The International Office can answer all visa related questions. All students who are applying for a visa must seek advice from the International Office in advance of making their application and should not apply for a visa without their guidance. Immigration advice from the International Office 9.2 Bank Letters

To assist you to open an account, by providing proof of your accommodation in Edinburgh, the University can provide you with a Bank Introduction letter. If you are using University accommodation - after you have fully checked in to your University accommodation you can download and print a copy of the letter from MyEd. Look in MyEd for the Print Bank Letter facility. If you are not staying in University accommodation and are an international student you can still request a letter. Information on bank letters 9.3 Matriculation Letters & Exemption from Council Tax

A Certificate of Matriculation provides proof that a student is matriculated for a particular academic session. You must be fully matriculated before the registry will process a letter request. Registry can also provide information and any certificates needed for exemption from Council Tax. All certificates will be posted to eligible students within 14 working days of the request being received (21 days during September). Order documents from registry 9.4 Graduation letters

The Registry can also provide certificates to International students, who wish to have a relative attend the graduation. However, you must first confirm your intention to attend the ceremony before any certificates can be issued. The earliest you can request this certificate will be September (after the final exam board has met). Before September the SGPE office can provide you with a letter stating that you may be eligible to graduate. 9.5 Student Attendance

All students attendance must be recorded, this is particularly important with regard to overseas students who must comply with the UK Governments Points-Based Immigration rules. It has been

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agreed that any student within the College of Humanities & Social Sciences must have their attendance confirmed through various contact points throughout the year. In practice, we do this by checking your coursework submissions; exams, induction, and conference attendance and other compulsory meetings to be notified. 9.6 Transcripts and Marks Letters

Formal transcripts are only available from Registry after graduation in November. However in the interim the SGPE office can provide you with a marks letter that will listing your marks to date. Generally it is helpful if you can us a few days advance notice particularly at very busy times of year (which are September/October, January, May/June) Email SGPE office 9.7 Updating your personal details in MyED

You can amend personal details in EUCLID, which you accessed via your MyEd Student Personal Details channel. You are able to maintain: Personal email address and mobile phone number Preferred first name (the name they like to be known as) Current and future home and semester addresses Details of who the University should contact in the event of an emergency*

*this person will be contacted only in a real emergency and not for things like fees or attendance. User guide for student self-service 9.8 TEAM and Additional Help with English Language

Some international students will take the Test of English at Matriculation (TEAM test) and will therefore be eligible for free English language classes as part of the English Language Testing and Tuition (ELTT) programme. Any student who tested lower than 6.5 on any single section of the IELTS exam (or its TOEFL equivalent) or who did not submit a language certificate is required to take this exam and will have received notification about this when being made an unconditional offer. Your performance will have no impact on your matriculation or assessment of your MSc, and only serves to help the student identify his or language weakness. Information about TEAM One of the courses that may be offered through ELTT is Writing Exam Answers. If you are offered this course, we strongly advise you to take it. Those of you who do not take the TEAM test and are therefore not offered any ELTT courses can still access the course materials from the website free of charge to use on a self-study basis. We strongly advise any those international students who feel they could benefit from help with interpreting exam questions and composing answers to look at these materials. Independent study course on formal written examinations 9.9 Leave of Absence and Study Away During Your Dissertation

It is expected that you will remain in or near Edinburgh throughout your studies with us, however sometimes you might find that you need to be away for a short period of time. On these occasions you should request a Leave of Absence (LoA). Detailed guidance and forms are uploaded to Learn.

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IMPORTANT: You must not leave before telling us You remain enrolled in the Programme and are expected to continue your studies while you are away. A leave of absence cannot be used to request special circumstances or an extension. Wait for approval to be confirmed before making any travel arrangements. Leave of Absence is not normally permitted during the taught component of the Programme (September to May) student needing to be away unexpectedly during this time should contact the SGPE office. During the Dissertation period we are generally happy to approve leave of up to two weeks as long as you and your supervisor are confident with the progress that you are making towards your dissertation and it doesnt clash with any requirement that we might have for you to be on campus. 9.10 Interruptions and Extensions If you are needing a break (interruption) from your studies or need an extension we strongly recommend that you contact the SGPE office. These are only granted in exceptional circumstances and there are formal procedures and paperwork that you will need to undertake. This is particularly the case as the School has to apply on your behalf for approval from College for these concessions. Below please find some practical guidance, but for more detail you should contact the SGPE Office. An Interruption of Studies (IoS) may be suitable if you are unable to work towards your degree for a significant period of time due to circumstances beyond your control. (Common circumstances are often Medical or health problems, bereavement, financial issues, etc) If you seek an interruption during the taught component (September to May), we are likely to recommend that you opt to take a year away because it isnt practical for students to interrupt for less than this. If you seeking an interruption during the dissertation stage, a shorter period of time suitable to your circumstances can be considered. If you are a Tier 4 visa holder requesting an interruption of longer than 60 days, if the Interruption is granted you will be required to leave the UK and return to your home country. And Extension of studies may be suitable if you have compelling and exceptional reasons for needing additional time to complete your studies - it will not be granted simply because you are not progressing on your dissertation at the rate expected. You will need to provide details of the work you have completed so far, a detailed timetable for completion with interim deadlines, and where applicable additional supporting evidence as to why you have been delayed. There is also likely to an additional fee to pay, usually a prorate amount of the next years fees. As mentioned above, contact the SGPE office for further guidance and forms. IMPORTANT: Submission of the paperwork does not imply approval and you should not leave or make plans to leave before receiving formal confirmation from College. 9.11 Medical treatment All students on a full-time course of studies in Scotland are eligible for National Health Service (NHS) treatment. This includes international students and any dependents with you in the UK. NHS treatment is provided for free however, you may have to pay for dentistry and some more specialised services. How to Register with the NHS

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9.12 Illness and Personal Problems If illness or personal problems/circumstances interfere with your studies, class attendance, assignment deadlines or exams, you MUST inform your personal tutor and the SGPE Office in writing as soon as possible. In the unlikely event that neither are available, you should contact any other available member of the School or teaching staff. If this happens, follow up your initial contact by checking with the SGPE Office. For illness (or other medical condition), a medical certificate will be required if you feel your illness may have affected your marks or assessed performance on the programme and you wish to request consideration by the special circumstances committee (See Section 5.7) 9.13 Student Counselling There are times when even the best of students can get into difficulty and need short-term help in coping with the stresses of University life. Student Counseling aims help students work through their difficulty, understand themselves better and find ways of managing their situation. They offer short term counseling to matriculated students of the University and also provide a programme of workshops and groups for students during the semesters. More information about the student counseling service 9.14 Students with disabilities The Student Disability Service main focus is providing advice and support to disabled students. They offer support for students with dyslexia, mental health issues and students on the autistic spectrum, as well as those who have physical and sensory impairments. The Student Disability Service staff can advise on helping students to access a range of support including study skills support, specific examination/assessment arrangements and providing Student Support Assistants such as proof readers, library helpers etc. If students have a specific disability (including dyslexia, Aspergers Syndrome, autism and mental health issues) which might need to be taken into account during their studies they are urged to contact the Student Disability Service at the earliest possible opportunity. For general information on the Universitys support for disabled students and how to make an appointment to see and advisor please contact the Disability Office: Disability Office Website: http://www.ed.ac.uk/schools-departments/student-disability-service 9.15 Advice Place The Advice Place is an impartial, accessible, free, confidential advisory service for all University of Edinburgh students irrespective of race, gender, sexual orientation, disability, religious belief or age. They act on behalf of students and their interests, advising independently of the University of Edinburgh or any other organization or authority. Advice is offered on a walk-in basis at their offices or, by appointment for more specialist areas such as welfare benefits and academic issues (such as Special Circumstances, Appeals, and plagiarism). They also offer a proofreading service and help with accommodation. More information about the Advice Place

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9.16 Careers Service The University Careers Service offers a full range of support from job vacancies and employer database to career planning programme, career contacts, to career advice and guidance. A Duty Adviser is available at daily drop-in sessions to help with quick queries, while a Careers Adviser, a specialist in providing support to your School, can offer longer guidance interviews by appointment. The careers service is open throughout the academic year for any matriculated student and graduates of the University of Edinburgh can use the resources for up to 2 years after graduation. 9.17 Complaints and Grievances Please see Section 12 of the handbook. 9.18 Social Media Please be aware of your digital footprint when using social media. Social media allows easy exchange of information and ideas and can provide a powerful platform for discussion - all of which is within the control of the account owner. Do not be afraid to engage with debate but do remember that what goes on the internet stays on the internet you need to remember that a future employer may discover things about you that you would prefer to keep private. We expect you to be courteous in your postings and to not make personal or hurtful comments about other students or staff. You should ensure your comments are lawful, ie are consistent with legislatively protected areas of equality and diversity, and do not constitute a disciplinary offence under the Universitys code, which include offensive behaviour (in writing as well as actual) and bringing the University into disrepute

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10 FACILITIES 10.1 Computing facilities To use the computer labs, you need a central account, which is only activated after you have matriculated so you must register as soon as possible. All facilities are free, except printing. General introduction to IT services available at the University Please note that there is strictly no food or water allowed in the computer lab. All rubbish must be placed in the bin or taken away with you. Computer Labs: The main School of Economics postgraduate computer labs are located in the basement of 30 Buccleuch Place. There are 2 teaching labs and a photocopying/printing room, providing you with 18 PCs in total. In addition to MS-Office there is a wide range of statistical/econometric software available for use in these labs. Access codes for the basement doors will be given out at induction, if you have lost or forgotten the codes, please contact the SGPE Office. Wireless access is also available in the basement. Open access labs, run by Edinburgh University Computing Services, are available in the Main Library and at various locations (including Halls of Residence) throughout the University and have with a range of applications. Information on open access labs 10.2 Printing The SGPE provides an initial print credit of 10 to all MSc students which will allow you to use the printer in the MSc Lab in 30 Buccleuch. For printing centrally in the library and other places you can top up your card at the computer services desk in the library. It will also be possible to earn additional print credit for the basement printer through the year. 10.3 Computer support Edinburgh University Computing Service (EUCS): In addition to running the open access labs, EUCS provides computing support services for staff and students. Basic help and advice can often be obtained directly from the supervisors in computer labs. The main EUCS reception centre can be found in the Main Library. There is also some support available in the use of your own PC (though not other platforms like Macs) and Wireless Access is also available. IT information for students 10.4 Study Rooms Economics MSc students have 24 hours access to the computer labs in the basement of 30 Buccleuch Place which also includes a study room and tea-making facilities as well as a binding machine. Access codes for the basement doors will be given out at induction, if you have lost or forgotten the codes, please contact the Programme Office.

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There are whiteboards in all the rooms, including the tea room. However we recommended that at least one computer room should remain free of meetings so that other student may use the PCs. Additionally, if rooms in the Unveristy are not needed for teaching they are available for students to use as study space and can be booked via my ED. Booking student study space 10.5 Library resources Founded in 1580, Edinburgh University Library (EUL) is one of the largest academic libraries in the UK. The main university library is on the south side of George Square. It contains collections in all subjects except science, medicine and law. It also houses a large number of PCs for use by students, and a room with several photocopiers. Your matriculation card is a multipurpose card and will act as the card you need to enter the library and the card you need to borrow books. Information Services also houses an extensive collection of reference materials in print and electronic form. Information about the library Edinburgh University Library Catalogue Students are expected to make use of the online and physical Library to support their studies. Especially useful is the librarys e-journal collection, including JSTOR for articles published in most economics journals more than four years ago, as well as the latest years of a more reduced set of journals. Although it is well beyond the scope of this handbook to provide anything like a comprehensive guide to the vast and rapidly changing electronic information resources for economists, we have put some information that we think may be useful in the appendix.

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11 STUDENT FEEDBACK Student feedback is collected in many ways both formally and informally. The core programme are regularly evaluated and updated based on student feedback and performance. The programme we are concerned to reassure ourselves, and external assessors, that our programme is satisfactory and working well, and where problems are identified to find a feasible solution. Informally: (a) Observation by instructors - class attendance, alertness, participation, preparedness; (b) Most instructors welcome comments and feedback immediately after class; (c) Using email or office hours to comment on or discuss an aspect of the course with the instructor; (d) Class discussions - instructors will often ask for feedback in smaller option classes, if they dont, you can always raise an issue yourself. Informal feedback can be provided at any time during a course, avoiding the more rigid timetable of formal course evaluations, which tend to take place near the end of a course. Semi-formal mechanisms: (a) Channelling views on courses (both positive and negative) to student representatives ; (b) Sometimes instructors may issue interim questionnaires during a course to obtain feedback on a specific aspect of a course (e.g. a new topic or teaching format). (c) In options courses students can complete some non- assessed feedback assignments on a voluntary basis Formal mechanisms: (a) Complaints or grievances relating to any aspect of teaching or assessment (see below); (b) Staff-Student Liaison Committee (SSLC); (c) Course evaluation questionnaires (see below); (d) Postgraduate Taught Experience Survey (PTES) (e) Student performance in assessment (exams, essays) provides a different source of formal feedback on a course. Course and programme questionnaires: Standard course questionnaires are administered via Learn near the end of all courses. The questionnaire itself has a multiple choice format, but additional written comments are strongly encouraged. The questionnaire responses (together with responses from instructors and course coordinators) are reviewed in detail by the SGPE Executive, the Programme Director, and the Staff-Student Liaison Committee. All this feeds into the on-going programme review process. If you would like detailed information on how the programme is evaluated and the academic audit procedures that we follow both formally and informally contact the SGPE office or the Programme Director. The Edinburgh University Students Association (EUSA) can also offer information and represents the view of students to the University.

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12 COMPLAINTS AND GRIEVANCES While we hope that you enjoy your studies with us, we recognise that, on occasion, there will be legitimate complaints that you may wish to raise. In the first instance you should try to sort out the problem with those who are directly involved at an early stage. In practice this often means approaching the SGPE Office, your personal tutor or the programme Director. The Schools procedures follow the established Edinburgh University Student Complaints Procedure and can be found online and in print from the various offices of The Advice Place. Edinburgh University Student Complaints Procedure

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USEFUL WEBLINKS
School/SGPE Information

School of Economics website http://www.ed.ac.uk/schoolsdepartments/economics SGPE Teaching Staff http://www.sgpe.ac.uk/about-us/teaching-staff/ SGPE Current Student Information http://www.sgpe.ac.uk/current-students/msc-students/ Teaching Staff /Potential Dissertation Supervisors http://www.sgpe.ac.uk/about-us/teaching-staff/ Regulations, Degree Programme Timetable and Code of Practice

Policies Regulations and code at the University http://www.ed.ac.uk/schools-departments/academic-services/policies-regulations Code of Practice for Taught Postgraduate Programmes, External Examining http://www.ed.ac.uk/schools-departments/academic-services/policies-regulations/codes Assessment Regulations (including Postgraduate Taught) http://www.ed.ac.uk/schools-departments/academic-services/policies-regulations/regulations/assessment University Degree Regulations and Programmes of Study (DRPS) http://www.drps.ed.ac.uk/13-14/regulations/postgrad.php#a16 MSc Economics (Full-time) Degree Programme Timetable (DPT) http://www.drps.ed.ac.uk/13-14/dpt/ptmscecnsg1f.htm MSc Economics (Finance) (Full-time) Degree Programme Timetable (DPT) http://www.drps.ed.ac.uk/13-14/dpt/ptmscecnfi2f.htm IT Help/Facilities

MyEd portal https://www.myed.ed.ac.uk Learn Guidance https://www.learn.ed.ac.uk/webapps/portal/frameset.jsp Statement for students on the use of email http://bit.ly/use-of-email Statement on university use of email as a method of contacting students http://www.ed.ac.uk/polopoly_fs/1.70917!/fileManager/Contacting_Students_by_Email.pdf Instructions on Forwarding Emails onto Private Email Account http://www.ed.ac.uk/schools-departments/information-services/services/computing/comms-andcollab/email/webmail/help/imp/filters/forwarding Open Access Labs http://bit.ly/open-access Computing Essentials

http://www.ed.ac.uk/schools-departments/information-services/computing

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Student Study Space http://bit.ly/StudySpace Online library catalogue http://catalogue.lib.ed.ac.uk/ Research Data Support http://bit.ly/data-library English Language Assistance

TEAM Test http://www.ed.ac.uk/studying/international/english/postgraduate/test-english English Language Testing and Tuition (ELTT) http://www.ed.ac.uk/schools-departments/english-language-teaching/courses/academic-purposes/in-session/eltt Student Resources

Course materials for the Writing Exam Answers course http://www.ed.ac.uk/polopoly_fs/1.54647!/fileManager/ELTT3.pdf. Institute for Academic Development http://www.ed.ac.uk/schools-departments/institute-academic-development/postgraduate/taught Plagiarism Guidance for Students http://www.ed.ac.uk/schools-departments/academic-services/students/postgraduate-taught/discipline/plagiarism Further plagiarism guidance http://dissc.tees.ac.uk/Plagiarism/Plag-4.htm http://deanofstudents.utexas.edu/sjs/acint_student.php Academic Feedback and Assessment http://www.ed.ac.uk/schools-departments/academic-services/staff/assessment/feedback International Office www.ed.ac.uk/international-office The Advice Place http://www.eusa.ed.ac.uk/advice/ Careers Service http://www.careers.ed.ac.uk/ Bank Account Advice http://www.ed.ac.uk/schools-departments/finance/students/bank-accounts Bank Letters http://www.international.ed.ac.uk/forms/banking/ Registry Ordering documents http://www.ed.ac.uk/schools-departments/registry/order-documents Feedback Standards Guiding Principles http://www.docs.sasg.ed.ac.uk/AcademicServices/Policies/Feedback_Standards_Guiding_Principles.pdf

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Appendix A Personal Tutor (PS) Statement One-to-one Meetings: As a postgraduate taught student you will have two individual meetings with your Personal Tutor in the taught part of your degree programme and one individual meeting in the research part. The one-to-one meetings are focused on your individual resultshow youre doing, what you might be doing well in or struggling with, your plans after the degree, and so on The first one-to-one meeting will take place in mid-to-late October, once the results from your September exams are available The second one-to-one meeting will take place in January, once the results from your December exams are available The third one-to-one meeting will take place in June or July, once you have started working on your dissertation The meetings will be arranged by your personal tutoryou will receive an email asking you to sign up online for a time that suits you Meetings will be scheduled for 10 15 minutes, but you are free to ask for more time if you feel that you need it If you wish to arrange an additional meeting, just email your Personal Tutor

Group Meetings: You will also be involved in several group meetings (in the taught part of your degree programme) and other activities designed to support your development as a member of an academic community. There will be a series of induction meetings over the course of September and October; these are designed to make sure that everyone knows each other and understands what they need to about the programme, the university, and the city. The induction meetings vary in size and duration: some will be small group meetings and some will take place in a lecture theatre and involve the whole class; some will last for 10 20 minutes and some for hours (but dont worry, the long ones are actually fun) There will also be a set of group meetings that take place at the two-day SGPE Annual Residential Research conference in January There are two types of group meetings at the conference: there will be one mandatory 30 minute progress report about a group project that you will be working on, and there will also be a set of optional meetings on careers and the possibility of PhD study at the various Universities involved in the Scottish Graduate Programme in Economics. All group meetings are scheduled centrally and you will be notified of them by email.

Working in partnership with your Personal Tutor you will have the opportunity to: Become a confident learner in your discipline and play an active part in your academic community. Reflect on your academic progress and your effective use of academic feedback. Develop the range of skills and attributes required for success at university and beyond.

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Appendix B - Programme aims and learning outcomes The MSc programme provides: a structured progression from undergraduate work to independent research; a sound basis in economic theory and an understanding of recent theoretical advances in the subject; the range of mathematical and econometric skills required by todays professional economist; the opportunity to acquire a range of transferable skills, including: mathematical and quantitative skills; data extraction and manipulation skills; IT skills; and communication and presentation skills; subject specific training, enabling students to develop specialisms relevant to their intended research or employment; exposure to techniques and issues at the forefront of academic development. Programme Learning Outcomes By the end of the programme you should (if you have worked hard!) be able to demonstrate knowledge and understanding of: the core elements of microeconomic theory and selected topics in applied microeconomics; the core theoretical approaches and analytical techniques of macroeconomics, enabling you to derive and manipulate key macro models and to consider their relevance to macroeconomic policy debates. econometric methods for both time-series and cross-sectional data analysis, enabling you to critically assess applied work and utilise standard econometric techniques in your own research applications of core economic theory and analytical and quantitative techniques, together with further specific techniques and on-going research activity relating to your chosen options. You will also develop a range of skills: Intellectual skills: Critical analysis and assessment Reasoning adaptably and systematically Problem-framing and problem-solving skills Numeracy and quantitative skills Exercising informed independent thought and critical judgement Practical skills: Obtaining and processing information from a variety of sources Presentation and communication skills Computer and IT literacy Decision-taking skills Transferable skills: Independent action and initiative Managing tasks and time Coping with stress Interpersonal and group skills In addition, core economics principles and concepts (e.g. opportunity cost, incentives, strategic thinking, marginal considerations, expectations and surprises, risk management, intertemporal decision-making) are transferable to most decision contexts.

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Appendix C - Plagiarism guidance for Economics students The guidance given below is intended to clear up any misunderstandings you may have about plagiarism in relation to Economics. See the University website for general guidance for students about plagiarism. This includes the Universitys procedures for dealing with different kinds of plagiarism and advice about what to do if you are accused of plagiarism. Universitys general plagiarism guidance The key to avoiding plagiarism is to make sure that you give correct references for anything that you have taken from other sources to include in your academic work. This might include, for example, any ideas, theories, findings, images, diagrams or direct quotations that you have used. You should signal via citation, within the text of your work, the origins of any material taken from another source, even if you have put it into your own words. If you take any material word for word from another source it is essential that you make it clear to your reader that this is what you have done. If you take material from another source, change a few words and then include the reference you may still have committed a plagiarism offence because you have not made it clear to your reader that you have essentially reproduced part of the original source. You should either express the ideas fully in your own words and give the reference or else use clearly labelled direct quotes. Bear in mind that if you include too many direct quotes in your work this may reduce your grade, as the marker will find it difficult to see evidence of your own understanding of the topic. You must also include a references section at the end of your work that provides the full details of all of the sources cited within the text. You should be aware that, for work done in your other subject areas, you might be expected to use a different referencing system. As referencing is something which students often find confusing, you might want to read online information about referencing using the plagiarism guidance link above. Guidance for students on more subtle forms of plagiarism can be found here Is it Plagiarism? Academic Integrity If this is new to you, this process of referencing may seem rather complicated and arbitrary, but it will make more sense as you progress through your studies here. In order to assess your work and to give you useful feedback your marker needs to have a clear sense of what ideas you have developed for yourself and what comes from elsewhere. To be fair to all of the students on the course it is important that each student is given grades that accurately reflect their own efforts. As you learn to produce work at a university standard, you are developing the skills that will allow you to participate within wider communities of scholars. In these communities new knowledge and understanding is often developed by building on the work of others. By properly acknowledging earlier work you give credit where it is due and help to maintain the integrity and credibility of academic research in this area. Clear referencing also allows readers to learn about the wider literature through your work. It is often the case that understanding the ways in which particular scholars have contributed to the development of the literature makes it much easier to make sense of the current state of play. In Economics there are certain facts which are so well known that it is not necessary to provide references for them in your work. This is what is known as the common knowledge of this subject area. At first it can be difficult to know what is and is not common knowledge and it is better to err on the side of giving references if you are in doubt.

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Sometimes, even when students know what plagiarism is, they find it hard to know what to do instead. In other words, it can be hard to understand how to develop and express your own ideas in an appropriate manner for your assessed work. You may wonder, for example, what you can add to the debate on a topic when the authors whose work you are reading seem to know much more than you do. This is something you will be learning to do gradually over the course of your studies. One way to learn about this is to pay close attention to the ways in which your lecturers generate arguments or support their points. You might also want to read about current debates in for example the Economic Journals Economic Forum section to see how claims and counter-claims are made. To start you off, here are some questions that you could ask yourself to help to develop your own views about a topic Can I learn anything from comparing and contrasting these rival points of view? What do I find particularly convincing about this authors argument? Could the criticism made by author A of the work of author B also be applied to author C? Do I believe the claims made from this study, given the sample with which it was conducted? What is the author's purpose in writing this article? What has the author focused on and what is left out? Does what the author is saying fit with my own experiences? Have any claims or predictions been tested? Is the evidence given to support the arguments convincing? Is the author trying to argue by unfair means, for example, by oversimplifying or misrepresenting an opposing viewpoint? Students sometimes wonder where to draw the line between discussing their ideas with their peers (which can be an excellent learning experience) and unacceptable collusion. The time to be particularly careful is when you are preparing work for assessment. You need to be certain that the work you submit represents your own process of engagement with the task set. You may get into difficulty if, for example, reading another students plan for their work influences you, or if you show them your plan. Assisting another student to plagiarise is a cheating offence. See the Universitys general plagiarism guide for more information. In addition to giving references for all of the materials that you have actually included within your assignments, it is important to appropriately acknowledge other sources of guidance you have used when preparing your work. Accidental plagiarism is sometimes a result of a student not yet having fully come to terms with how to study effectively at university. For example, the ways in which students take their notes sometimes makes it difficult for them to later distinguish between verbatim quotes, paraphrased material and their own ideas. For more advice on study skills and workshops related to plagiarism please see: INSTITUTE FOR ACADEMIC DEVELOPMENT

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Appendix D Library Resources for Economics students The Main Library at George Square holds the main collection of Economics books and journals. The main collection of Economics books and journals are shelved on the 4th floor. The one week loan Economics collection is located separately on the fourth floor. The high use 3 hour loan collection is located in Reserve at RR (Economics) on the ground floor. Multiple copies of heavily used journal articles and book chapters (where copyright regulations allow) are held in the offprint collection in the Reading Room. Current journals are located in the Current Periodicals room on the first floor. In most cases journals remain current until a years worth of issues builds up; they are then removed for binding and relocation on the fourth floor. If you need to consult an issue of a journal that has been removed for binding you should enquire in the Serials Office, located in the Current Periodicals room. One service to bear in mind is interlibrary loans (ILL). If a book or journal article is not held by the Main Library or elsewhere in the University it can be ordered by completing a form available from Information Services on the second floor of the Main Library. You will also require a letter from the course instructor or supervisor stating that you need to use this facility. It is important to make sure that you check that the item is not available in Edinburgh (using the library catalogue and SALSER). The cost to the reader per ILL request is currently 3.00. The book or a copy of the article usually arrives within two or three weeks. The library catalogue is available here. Information Services also houses an extensive collection of reference materials in print and electronic form. Students may also use the National Library of Scotland. This is a reference library (no borrowing) and is supposed to take all books and journals published in the UK. The main building is located on George IV Bridge. This library provides a major alternative source of information on some topics. Student use of the National Library is restricted; if you think you need to use the National Library your first step should be to make enquiries at the service desk in the Main Library. It is well beyond the scope of this handbook to provide anything like a comprehensive guide to the vast and rapidly changing electronic information resources for economists. You may wish to use a search engine to find the following sites which have been useful in the past: The UK Treasury: includes daily news releases, budget information (including the Red Book), economic forecasts, consultation documents, the tax ready reckoner, and ministers speeches). The Bank of England: provides access to full electronic versions of Bank of England publications and press releases as well as time series data on monetary aggregates and other financial statistics. Federal Reserve Bank of Minneapolis: Access to electronic versions of FRB Minneapolis reports and working papers; useful links to US data sources and other Feds. Economic and Financial Resources and Data: this website at the Economics and Finance Department, University of Durham, has links to economic country data services and associated pages. (A useful source of data for dissertations) International Monetary Fund: Complete texts of key IMF documents and publications. National Bureau of Economic Research: Information on NBER working papers, abstracts are available free, full text for a fee. The Penn World tables (country level comparative economic indicators 1950-92) along with other mostly US data bases can also be accessed here. Resources for Economists on the Internet: An annotated and extensive set of links to over 700 sites.

Selected electronic data sources available from the University Data Library: The Data Library purchases several economic datasets for use in research, teaching and learning. Valuable networked CD-Rom datasets include: International Financial Statistics an IMF database OECD Statistical Compendium

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World Development Indicators - published by the World Bank Datastream Advance company and financial data Access to other useful data sources is also available via the Data Library. For example Eurostat (European time series data) Family Expenditure Survey 1996-97 OECD Economic Indicators ONS Databank (UK Economic Time Series) For information on access see the Data Librarys website or visit the Data Library in person (contact details are on their website). Bibliographic information: EconLit (an invaluable resource for essay and dissertation preparation) can be accessed on-line via the search function on the University of Edinburgh website. It also contains various other useful bibliographic data bases. Information on access and use of these (and other data bases such as BIDS and EDINA) can be obtained from the Library website via telephone or email (contact details are on their website). The Library catalogue and Blackwells stock list are also accessible on-line, enabling you to check on the availability of books and journals to borrow or buy. Selected Electronic Journals: Recent (in most cases 1997 onwards) editions of a number of leading economic journals are accessible on-line. For further information and a comprehensive list, see the Librarys website. Examples include: The Economic Journal Economic Policy Economica Journal of Economic Surveys Journal of Economic Theory Oxford Economic Papers Oxford Review of Economic Policy Scottish Journal of Political Economy Electronic Newspapers: CD-ROM versions of a number of major newspapers are available in the Reference section of the Main Library, these may include available: The Financial Times The Economist The Times The Independent The Guardian The Scotsman Le Monde The New York Times

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Appendix E - Institute for Academic Development The Institute for Academic Development (IAD) provides a number of workshops and resources for University of Edinburgh postgraduate taught students, to help you gain the skills, knowledge, and confidence needed for studying at postgraduate level. The workshops are free of charge to students and are organised by the IAD or in conjunction with the Schools and College. Workshops can be booked via MyEd or the IAD website. Workshops Workshops may vary from the list below and Schools may offer additional workshops, arranged in conjunction with the IAD: Study Skills Dissertation Writing & Planning Presentation & Speaking Skills Exam Preparation Poster production Project Planning & Ethics Problem Solving Resources There are various resources available on the IAD website, including: Preparing for your studies Studying at postgraduate level Developing your English Literature searching Managing research workloads Writing a postgraduate level Assignments: planning and drafting Critical thinking Using digital media Guides and codes

Contact Details: Institute for Academic for Academic Development 7 Bristo Square Edinburgh EH8 9AL Blog: http://iad4masters.wordpress.com/ Website: www.ed.ac.uk/iad/postgraduates Email: iad.masters@ed.ac.uk

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