| source London School of Economics (X) |
level |
department |
The course examines the inter-relationships between the development of the international economy and the growth of national economies since the late nineteenth century. The course is designed to introduce students not only to a wide variety of topics and issues, but also to the wide variety of approaches used by historians. The course includes analyses of the original leading nation, Britain, and its replacement, the United States, we well as the catch-up of areas such as continental Europe, and the failure to catch-up of earlier well-placed areas such as Latin America. The effects of major events - such as wars and debt crises - are investigated, and we also consider the implications of changing global economic institutions, such as the Gold Standard and IMF, as well as the effects of sometimes rapid changes in product and process technology.
Score: 6.5770254 Details | Listing | Web page
The course examines in outline the European financial history between the ninth and the mid-eighteenth centuries, taking the students from the simple beginnings of medieval European monetary history to the more complex arrangements that emerged toward the end of the early modern age. Developments in the major European countries (England, Spain, Italy, France and Germany) will be discussed and compared. The course emphasises both the many features shared by these countries and their often considerable differences, places monetary history in the context of more general economic history and discusses how money influenced the wider economy.
Score: 6.5770254 Details | Listing | Web page
The course examines in outline the social and economic history of European towns between the mid-15th and the mid-18th centuries. Towns and economic development; the urban economy: manufactures, services and domestic and international trade; town-country relations, towns and rural industry; towns and the state; capital cities; urban hierarchies and networks; social structure and social mobility; standards of living; social conflict, crime and criminal repression; population structure; women, family and work; poverty and welfare; medicine and health; religion, education and literacy.
Score: 6.5770254 Details | Listing | Web page
The course surveys the economic development of Russia, India and Japan over the last 150 years. The emphasis is comparative and the focus on particular problems of industrialisation in the pre-World War I, interwar and post-1945 years. Dynamism and constraints in pre-industrial economies; state policy and industrial take-off; peasant agriculture, agricultural performance and industrialisation; traditional and modern manufacturing; capital, labour and entrepreneurship; effect of war and military expenditure; industrialisation strategies, planning and the role of the state; institutions and institutional reform; technological capability; impact of the international economy; quality of life issues.
Score: 6.5770254 Details | Listing | Web page
The course examines the societies and economies of Latin America from effective incorporation in the international economy in the late nineteenth century to the era of globalisation and assesses how Latin America has changed over the last hundred years or so. Causes and outcomes of ‘engagement’ with the world economy will be explored in the following broad themes: growth and structural change- the quest for development; the political economy of state formation and the politics of state action- from authoritarian regimes to democratic consolidation; society, poverty and progress- mobility and modernisation or violence and inequality; ideas and institutions.
Score: 6.5770254 Details | Listing | Web page
The course examines Europe’s economic development and the processes of economic integration and disintegration from the early nineteenth century to the present. One of its aims is to introduce students to a variety of theoretical approaches to the European growth and integration experience and to assess the validity of alternative explanations. Issues covered include: I. Concepts of economic development and integration; the relationship between integration and growth. II. Integration and industrialisation in the 19th century: regional, national and international integration of goods and factor markets; the roles of transport, technological change, and technology transfer; multilateralism and the working of the gold standard; the post-1870 rise of neo-mercantilism; the industrialisation of the European periphery; the changing role of the state. III. The disintegration of the European economy, 1914-1945: economic consequences of the war; growth in the 1920s; the Great Depression and the collapse of the international economy; the emergence of trading blocs; the European economy in the Second World War. IV. Re-integration of the European economy after 1945: the economic legacy of the war; reconstruction and modernisation; the role of the Marshall Plan; liberalisation, foreign trade, and payments; the impact of supra-national institutions: the ECSC and EU; attempts at monetary integration. Comparative country case studies will be used to explore the development of national economies in their international context.
Score: 6.5770254 Details | Listing | Web page
The course examines theories and concepts used in economic history, and provides an introduction to the methods used by economic historians to collect evidence and generate inference on relevant historical questions. The course will begin with an examination the development of history as a subject and discipline. Consideration will be given to the assumptions made in economics and their principal applications in economic history. The course will also introduce students to essential methods for the design and execution of a research project. Students will be introduced to the analysis of historical arguments and the critical interpretation of primary and secondary sources. The course will also provide students with the basic quantitative skills required to pursue an independent research project, and to engage critically with current scholarship in economic history.
Score: 6.5770254 Details | Listing | Web page
This course examines the Industrial Revolution in Britain, the turning point into modern economic growth. The course is designed to introduce students to the key debates around industrialisation. It will consider the causes and timing of British industrialisation; the process of industrialisation; and the economic and social effects of the industrial revolution. The course focuses on the British case, but will also explore why some other countries did not industrialise at that point, and processes of catch-up that followed.
Score: 6.5770254 Details | Listing | Web page
This course looks at the history of British business and industry, with an emphasis on the post-war period. It examines some of the hypotheses on why the UK economy grew more slowly than other OECD nations with particular reference to the decades after the Second World War. Explanations of relative economic decline are examined in the context of comparisons with other European nations and with the US and Japan. The main attention is on recent decades, including current changes in performance, but the historical roots of Britain’s poor performance are also considered. The focus is on business performance in the public and private sectors, including scale effects, multinationals’ comparative performance, technology, labour management and management quality. Other factors alleged to have contributed to Britain’s poor performance, ranging from ‘culture’ through government policy to education and trade unions, are also discussed.
Score: 6.5770254 Details | Listing | Web page
The course examines economic and social development in Western and Eastern Europe and Asia from the late Middle Ages to the mid-18th century. Its purpose is to discuss comparatively the sources of long-term economic development and growth in the past. The course surveys issues, theories and historiography; economic development in premodern western Europe, population; agriculture; industry and protoindustry; urbanization; market integration and trade; technology; state structure, policy and political economy; taxation; technology, causes and consequences of west European overseas expansion; the emergence and nature of a 'world economy'. Comparison with east-central Europe, Mong-Ching China, and Tokugawa Japan.
Score: 6.5770254 Details | Listing | Web page
The course surveys major developments in the economic history of North America between 1600 and 2000. Colonial development; the American Revolution; Early North American Industry; Slavery; Westward expansion; the American Civil War; Regional Economic Development; Railroads and growth; International and internal trade; Finance and banking in the 19 th century; Migration and labour markets in the 19th Century' World wars and North American Economies; the Great Depression; Post-war economic development and policy.
Score: 6.5770254 Details | Listing | Web page
This course examines aspects of the economic history of sub-Saharan Africa, focusing on the nature and consequences for Africa of its external relationships. The course examines the general theoretical and historiographical debate about Africa’s relative poverty, particularly in the context of Africa’s historical relationships with the world economy. Part I: Periods and Processes. Theories and historiography: an introduction. Precolonial period: 'deep time' perspectives on African environment, settlement, and intercontinental trade; the Atlantic slave trade; violence and economic growth in the 19th century. Colonial period: the European Scramble for Africa; the early colonial period (to 1939), including the cash-crop 'revolution' in certain 'peasant' colonies, and the rise and attempted destruction of African peasantries in certain 'settler' colonies; the last colonial period (1939-c60), including development schemes, manufacturing growth, and decolonization (case-study of 'Mau Mau' revolt in Kenya). Post-colonial period: from state-led development policies to Structural Adjustment and beyond. The capitalism and apartheid debate in South Africa. Part II: Thematic Analysis. Resources and technology: factor ratios analysis and choice of technique; models of economic growth in Africa. Making markets: debates about culture and market rationality, indigenous entrepreneurship, and institutions. Labour coercion and African economic growth: internal slavery, colonial coercion, and the causes and consequences of the freeing of labour. Gender divisions of labour. Patterns of foreign trade, investment and enterprise. States and economic growth. Theories and historiography: a revised overview.
Score: 6.5770254 Details | Listing | Web page
The course examines particular aspects of Japanese economic history since the mid-19th century, making some use of statistical and English language primary sources, as well as broader debates on the pattern of modern Japanese development. An overview of some major themes in modern Japanese development and in the historiography is therefore combined with a focus on particular issues. Topics for 2009/10 will include pre-industrial growth and its lefacy; growth of the agricultural and manufacturing sectors; Japanese formal and informal empire; the Pacific War and the Occupation of Japan; the Pacific War and the Occupation of Japan; trade and interaction with the international economy; consumption; institutions and organisations; gender in modern Japanese economic history.
Score: 6.5770254 Details | Listing | Web page
The course explores the relationship between finance and innovation in the nineteenth and twentieth centuries, the impact on economic growth and how policy makers managed (or failed) to encourage investment and technology adoption. Technological change and organizational innovation are critical determinants of the pace of economic growth. This course looks at the specific ways in which innovation transformed economies around the world in the modern era. The course has a global reach though it will concentrate on countries in Northern Europe and the United States. Particular attention focuses on links between finance and innovation: finance is a fundamental input for almost every type of productive activity. The course will explore issues such as the links between financial development and growth; the relationship between market size and structure and technological progress; the extent to which innovation caused stock market booms and busts; how firms developed the capabilities to profit from new technologies; and how policy makers attempted to nurture institutions to stimulate investment and technology adoption. The course will therefore cover themes such as the process of invention, innovation typologies, the history of R&D management, anti-trust policy, corporate governance, organisational change, incentives, intellectual property rights and the regulation of technology and its finance more broadly.
Score: 6.5770254 Details | Listing | Web page
The course explores the main aspects China's economic growth in the very long term from c.1000 AD to 1800, It begins with a survey of general models/themes in Chinese economic history, followed by particular issues: the formation, expansion and the function of the Chinese empire; Confucian values and state economic polices; property rights; peasantry and peasant economy; proto-industrialisation; commerce and trade; science and technology; demographic fluctuations; living standards; external shocks and foreign influence; internal rebellions and revolutions; reforms and modernisation.
Score: 6.5770254 Details | Listing | Web page
The subject of the dissertation should relate broadly to one of the economic history courses that have been chosen.
Score: 6.5770254 Details | Listing | Web page
The course examines the theory of financial decision-making by firms and examines the behaviour of the capital markets in which these decisions are taken. The topics covered are the theory of capital budgeting under certainty in perfect and imperfect capital markets, portfolio theory, equity and bond markets, the capital asset pricing model, efficient markets, sources of funds, basic theory of capital structure and the cost of capital, company dividend decisions and financial markets and institutions.
Score: 6.5770254 Details | Listing | Web page
This course is intended for third-year undergraduates and will be a broad-based follow-up to FM212 Principles of Finance. The goal is to broaden, and selectively deepen, students' understanding of finance, building on their existing knowledge of financial economics. The course will cover a broad range of topics, with both a theoretical and an empirical emphasis. These include topics in corporate finance, investments and performance evaluation and international finance The course consists of two interchangeable ten-week components, one on investments and international finance, and the other on corporate finance. The first component provides students with a way of thinking about and framing investment decisions by examining the empirical behaviour of security prices. We first study the empirical evidence of the CAPM and other asset pricing models, and then analyze different tests of market efficiency focusing on event studies, investment anomalies and behavioural finance. Finally, this part of the course illustrates techniques of performance evaluation and attribution and, after introducing elements of international finance, explores issues related to international portfolio management. The second component of the course examines theory and evidence concerning major corporate financial policy decisions. We focus particularly on the firm's decision to finance with debt vs. equity, the impact of taxes on such decisions, and the role of dividends. We will begin with the Modigliani and Miller proposition and discuss the firm’s choice to raise capital using debt versus equity and the firm’s choice to payout earnings using dividends versus repurchases. We will analyze the impact of taxes, financial distress, and asymmetric information on such decisions. We will also cover optimal managerial compensation, take on the role of the policy maker to learn about corporate governance mechanisms and discuss some recent corporate scandals. Finally, we will review empirical evidence from a wide range of international sources to support or refute the theories we discussed.
Score: 6.5770254 Details | Listing | Web page
This course is intended for third-year undergraduates and builds upon FM212 Principles of Finance. The main topics covered are financial risk analysis and financial risk management (first part of the course) and derivative pricing (second part). As such, this course is complementary to FM300 Corporate Finance, Investments and Financial Markets, with minimal overlap. The first part of the course provides students with a thorough understanding of market risk from both a practical and technical points of view. We discuss the empirical properties of market prices (fat tails, volatility clusters, etc.), forecasting of prices, concepts of financial risk (volatility, Value-at-Risk, etc.), volatility models (ARCH, GARCH, etc.), and we analyze how interactions and feedback between market players can generate endogenous risk and liquidity crises. Finally, we discuss credit markets and liquidity, with applications to the current situation in financial markets. This part of the course presents methods and models used by banks and other financial institutions in the management of risk and allocation of risk capital, as well as models of financial crises. Students apply the models to real financial data using Matlab, a computer software popular in both industry and academia. No prior knowledge of programming is assumed: students will learn-by-doing in class. Students will at times use data and software for classwork assignments. The second part of the course focuses on derivatives, addressing three questions: how do these products work? In what type of investment strategies can they be used? And above all: How are they priced and hedged? No-arbitrage arguments, risk-neutral valuation and the martingale pricing approach will be introduced and applied to the pricing of equity derivatives (European call and put options, American options, exotic options), futures and forwards contracts, and interest rate derivatives (swaps, caps and floors, swaptions, etc…). The lectures start with a self-contained introduction to continuous-time stochastic processes and elements of stochastic calculus. The course covers the Black-Scholes model, as well as stochastic volatility and local volatility models, aiming to explain how these models are used for the pricing and hedging of equity derivatives. The standard market model (Black’s model), as well as term structure models (Vasicek, CIR, HJM), are then introduced and applied to the pricing of interest rate derivatives. If time permits, credit derivatives might also be covered.
Score: 6.5770254 Details | Listing | Web page
Score: 6.5770254 Details | Listing | Web page
The course is an introduction to the main topics of Comparative Politics within a British politics setting. The first part of the course introduces key political concepts in a comparative perspective whilst the second focuses specifically on the analysis of British politics. The main topics covered are political institutions, the state, the Westminster model, Britain and the EU, monarchical government, Presidentialism and parliamentarianism, comparative electoral systems, civil society, federalism and judicial review.
Score: 6.5770254 Details | Listing | Web page
This course is concerned with positive political economy and public choice theory applied to the study of political conflicts, democratic institutions and public policy. The course covers the main tools for the study of public choice (rational decision-making theory, game theory, social choice theory) and a number of both theoretical and applied topics, including the empirical study of institutions. This course will cover the main topics in positive political economy and institutional public choice. These include: the aggregation of preferences; voting paradoxes and cycles; electoral competition and voting behaviour; the problems of and solutions to collective action; welfare state and redistribution; the impact of information and mass media on voting behaviour and public policy; the theory of coalitions, the behaviour of committees and legislatures including agenda-setting and veto-player power; principal-agent problems in politics; models of bureaucracy.
Score: 6.5770254 Details | Listing | Web page
The aim of this course is to look at the political science literature which tries to explain major reversals in public policy, and to apply that literature to major cases of economic policy reversal (both contemporary and historical). In particular, it aims to examine the extent to which economic policy change is affected by ideas, economic interests and institutions. The material for the course is drawn mainly from the comparative literature on the politics of economic policy-making in the developed countries, and in all cases the aim is to assess rival interpretations of policy dynamics. Course topics will include the study of policy dynamics and political science explanations of policy reversals; including the political economy of European Monetary Union and financial stability; central bank independence; trade policy (historical cases and contemporary); redistribution; and agricultural policy.
Score: 6.5770254 Details | Listing | Web page
This course provides an advanced introduction to contemporary political theory. The course will cover concepts such as Democracy Freedom and Equality. In the course of the year students will be introduced to such major contemporary theorists in the field as Rawls, Nozick, Sandel, Walzer and Okin. This course will provide students with a good grounding in the methods and substantive concerns of contemporary political theory as well as familiarity with the works of major thinkers in the field.
Score: 6.5770254 Details | Listing | Web page
A systematic examination of the policy process in the context of developed nations. This course introduces key theories and models in the study of public policy and encourages a critical appreciation of the main trends in contemporary public policy-making. The course looks at the different stages of the ‘policy cycle’ (e.g. agenda-setting, implementation and evaluation), the determinants of public policy (for example, public opinion, political parties, technology) as well as central themes in the study and practice of public policy, such as corruption and risk management.
Score: 6.5770254 Details | Listing | Web page
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