Economics

Development Economics applies basic tools of economics to key policy issues in developing countries and transition economies. This specialization discusses topics like: the role of constraints (for example through exposure to risk) on the ability of households to escape from poverty through asset accumulation; the potential for sustainable land use in areas with rapid population growth; the economic implications of migration. and the scope for economic growth through industrial development. These topics, along with aggregate aspects of growth and inequality, and broader issues of human development, shape the curriculum of the Development Economics specialization.

The approach of the specialization is strongly empirical, using case studies or survey data for individual households or firms to test competing theories and to evaluate the impact of implemented policy initiatives and specific development projects.

This specialization studies economic aspects of pressing global issues. Course work straddles areas of environmental policy, global warming and climate change, but also the division between developed countries and the developing world, affecting life and decisions of billions (poverty, access to health and education, migration). All courses feature the application of relevant theoretical and empirical insights to practical issues. You will learn to use modern tools of analysis to investigate potential solutions and formulate policy recommendations. Global challenges are much wider, and thesis work can further delve into issues of, for instance, global diffusion of technical change and innovation, international tax and welfare competition, or international political economy.

The specialization is jointly supported by teaching staff from the Department of Economics and of Spatial Economics. Both host internationally renowned staff, all actively participating in national and international economic policy debates. After completing course work and thesis you are well equipped for a career as a policy economist in international or national government agencies such as the European Commission or ministries, policy analysis institutions, internationally operating consultancy firms, or NGOs.

The specialization International and Macroeconomic Policy focuses on trade, growth and coordination of fiscal and monetary policy. This specialization builds upon foundations of advanced macroeconomics: What determines long-run growth and productivity; what is the use of fiscal and monetary policy for economic stabilization?

Specialization courses discuss, inter alia, strategies in coordination and cooperation needed to maintain and promote the integration of Europe: How are tasks divided between EU and national authorities, can the Euro area be stabilized and is further expansion desirable? Another area focuses on growth in developing nations: What role do institutional (social and political) factors play in promoting growth, how do incentives affect savings and investment of households and firms, and what is the impact of foreign aid on development?

In the programme, you will also gain insight into the drivers of growth in industrialized countries, specifically the strategies of firms to boost innovation and growth, and the role of policy.

Our highly reputable teaching faculty has an international track record in academia, central banking, and policy advice.

The specialization studies in market analytics focuses on various aspects relevant for understanding economic markets. This specialization discusses both theoretical concepts on measuring for example market power and competition as well as methods for data driven analysis of relevant processes. The theoretical analysis uses techniques from microeconomics on firm behavior, price setting and innovation, but also considers public policy of market authorities that aim at reducing market power of a firm within a single market. The empirical part focuses on how the effectiveness of public policy can be evaluated and introduces students with big data and machine learning techniques that can be used to analyze processes relevant for firms. A thesis in this specialization can be theoretical or empirical and can focus on firm behavior or on public policy.

After completing this specialization you are well equipped to work either for a market authority or for a firm using data science techniques which can for example be found in the financial and tech sector.

Public Policy studies the main societal challenges of today and tomorrow, including the future of the welfare state, aging of society, global environmental challenges, urbanization of our societies, globalization, and economic development and inequality. The programme addresses questions on market performance and failures, and associated policies, studied from the perspective of incentives and economic behaviour of individual firms and households. It also covers macroeconomic policies directed at aggregate growth and employment.

Read more about the Economics: Public Policy programme and admissions on the programme page