Economic subjects | Finance » MSC Courses in Economics, Accounting, Banking and Finance

Source: http://www.doksinet THE UNIVERSITY OF READING MSc COURSES IN ECONOMICS, ACCOUNTING, BANKING AND FINANCE 2001/02  Faculty of Letters and Social Sciences SCHOOL OF BUSINESS THE DEPARTMENT OF ECONOMICS Source: http://www.doksinet INTRODUCTION The best advice to a student intending to study for a postgraduate qualification is to apply to those universities whose strengths lie in the intended area of study, since this will not only ensure expert specialist supervision and resources for their work, but will also ensure a critical mass of fellow postgraduates engaged in similar studies. The Economics Department at Reading University is well represented in most areas of applied micro and macro economics as may be seen from the research interests and activities of the members of staff listed on our website (http://www.readingacuk/Econ) Within these areas of research we have a consistently high international ranking in International

Investment and the Multinational Enterprise, Macroeconomics, Development, Economics, Contemporary European Economic Issues, Industrial Economics, Business History, Finance and Accounting and Urban and Regional Economics. A good deal of this activity is funded from sources external to the University and over the past few years alone, the Department has attracted over £2 million from such bodies as the Economic and Social Research Council, the Science and Engineering Research Council, Overseas Development Administration, Department of the Environment, Commission of the European Communities, UN Centre on Transnational Corporations, Esmee Fairbairn Foundation, the Leverhulme Trust, International Securities Markets Association and several international companies. The Economics Department at Reading has also been chosen by the official regulatory authority for international capital markets as the location of the ISMA Centre for Education and Research in Securities Markets. The focal point

for research into international investment and multinational companies is the Graduate Centre for International Business chaired by Professor Cantwell. The Department is also a major participant in the interdisciplinary International Development Centre. These research strengths have attracted a large group of postgraduate students (one of the largest MSc programmes in the UK) and this in turn enables us to offer a wide range of course modules (currently 31) on the twelve MSc degrees. At the same time, we are careful to ensure that all students have opportunities for discussion with staff. All courses organise 1 Source: http://www.doksinet frequent seminars for discussion, course convenors discuss project work individually with students, individual supervisors are appointed for dissertations, and all students have a personal tutor who gives general advice and support. Size of University is also a factor which you might wish to take into consideration, and in terms of student

numbers, Reading comes between the large civic institutions of London, Birmingham, Leeds and Manchester and the newer universities such as Essex, Kent, Lancaster and York. This enables us to offer a wide range of facilities while at the same time maintaining frequent formal and informal contact with our students. The Universitys traditional interest in Europe and in developing countries has steadily increased in recent years and, to support and encourage these teaching and research interests, the University has established an International Office with its own permanent staff which, among many other activities, organises an Overseas Student Welcome Programme to introduce overseas students to the University. There are extensive library and computing facilities and the University is also designated as a European Documentation Centre, automatically receiving a substantial number of publications of the European Community. In addition, the Department of Economics maintains its own library

which collects publications and documents not readily available through normal library channels, such as reports by international organisations, consultancy reports, company accounts, etc. We have tried to answer most of the questions which postgraduate students are likely to ask, but if you have any additional queries, then please write either to me or to Professor Geoffrey Jones (MPhil and PhD students) or Matthew McQueen (MSc courses). James Pemberton Professor of Economics Head of Department 2 Source: http://www.doksinet THE DEPARTMENT: a centre of excellence We are a large Department with 43 academic members of staff with an excellent reputation in the fields of economics, business, finance, accounting, management and urban and regional studies. In the latest exercise to assess research quality, Reading was one of only ten institutions in England and Wales to receive a top (5) rating in business and management, was awarded a 4 rating in economics and ‘flagged’ in urban

and regional studies (meaning that this sub-group was identified as of a higher standard than the average for the 4 rated group as a whole). The breadth of research interests in the Department can be illustrated by a sample of some of the subject areas in which the academic staff have recently published books or papers: forecasting world economic growth; volatility in stock market returns; forecasts of exchange rate volatility; the performance of UK outward investment; theory and practice of joint ventures in international investment; trade and aid co-operation and international agreements; national and international approaches to the reform of pensions and social security; information and incentives within firms; aspects of financial development in transitional economics; entrepreneurial behaviour among small Asian businesses in the UK; European industrial policy in a global competitive economy; US influence on European management practice; international similarities and

differences in patterns of financial reporting; the future of accounting standards; technological innovation in the EU; the economics of industrial location; the role of multinational subsidiaries in technology and knowledge creation; policies; modelling regional house prices; urban housing problems and the impact of UK higher education on regional migration. Reflecting the excellence of the reputation of the Department, senior members of staff have carried out advisory work for the World Bank, the UN, The European Commission, the Bank of England and a wide variety of UK Government ministries. Staff also serve on a number of national and international advisory committees, on the Boards of a number of learned journals, and as members of the Management Board of professional 3 Source: http://www.doksinet Societies and Associations. In 1991, the International Securities Market Association (Zurich) established the ISMA Centre, the Business School for Financial Markets, within

the Department, and the Centre is now housed in a state of the art £3 million building close to the main Faculty building. 4 Source: http://www.doksinet THE UNIVERSITY: high quality teaching in a very pleasant environment The University was founded as an extension of Oxford University in 1892 and received its Royal Charter as an independent institution in 1926. The Department is located in the main Whiteknights campus of the University. This is a magnificent 300-acre park, once part of the medieval manorial estate of Erleigh Whiteknights and landscaped with extensive lawns, trees and lakes in the 18th century, providing a beautiful setting in which to study. The majority of students, including postgraduates, live in the thirteen Halls of Residence, most of which are located around the northern perimeter of the park and in the residential streets nearby. Other students live in private bedsitting rooms, flats or houses in the town. The Halls of Residence vary in age, size and

character, but all are within easy reach of Whiteknights, and provide a range of study, domestic and social facilities, although some Halls have a limited number of ensuite facilities. Most Halls provide a choice of either fully catered meals in a central dining room or kitchens where students can prepare their own meals. All students have a key to their own room, and to the outside door if needed All the Halls are within reasonable walking distance of shops, a bank, a post office and a bus route into the town. Car parking spaces are limited at some of the Halls Each Hall has a Warden, who is a member of the academic staff. Other members of the University also live in Hall and, like the Warden, are able to give help and advice to students. The large, purpose-built, Library is the focus of the campus and contains nearly one million books. A wide range of information sources, both on CD-ROM and over the Internet, are available and the Library subscribes to over four thousand academic

journals 5 Source: http://www.doksinet and periodicals. Extensive computing facilities operate throughout the University and, in addition, the Department of Economics runs its own library and computer room. The University has some excellent resources for sport, all the major facilities for which are on its main campus. For those seeking casual and recreational sport, the University Wolfenden Sports Centre offers the full range of indoor sports and activities ranging from aerobics to yoga classes. These resources are complemented by the purpose built Students’ Union which provides facilities to allow students to relax and socialise. In addition to organising hundreds of clubs and societies, the Students’ Union offers bars, shops, various catering outlets and a wide variety of entertainments to suit all tastes. The University Health Service provides a comprehensive medical service for students. Its modern, purpose-built Health Centre has in-patient and nursing facilities

Students who are taken ill during the term may be admitted to the Health Centre and cared for until they are well. The University takes pride in the help and advice which it provides for its undergraduate and postgraduate students. This is primarily provided through a personal tutor, who is a member of the academic staff of the department in which you spend most time during the course and whose duty it is to provide impartial advice and assistance and where necessary, to represent your interests throughout your stay at the University. This is complemented by the Counselling Service staffed by professional counsellors, psychologists and psychotherapists. You can go and discuss with them in complete confidence any problems which might be troubling you, such as difficulties with study, examination anxieties, family problems and loneliness, or simply talk informally about how you are getting on. The Careers Service provides a wide range of facilities including one-to-one discussions with

careers staff, computer-based guidance and information systems, extensive library facilities, a website and substantial termly programmes of events. These provide insights 6 Source: http://www.doksinet into self-assessment, a range of opportunities and how to implement choices. Careers Advisory Service works closely with recruiters; presentations and interviews on campus. 7 The many employers organise Source: http://www.doksinet THE TOWN: the best of town life Reading is a large, thriving and bustling town in the heart of the Thames Valley and offers all of the attractions of a city with the peace of some of Englands finest countryside. It is not a place that rests on its history: while it boasts the remains of one of Englands largest and richest abbeys, the burial place of Henry I and a heritage dating back to Roman times, it accommodates its modernity with ease. The growth of new buildings reflects how many companies see Reading as a town of the future as much as the

present. The recently completed Oracle in the centre of the town is one of the country’s largest shopping and leisure complexes, and features over 80 shops, with all the top names. Situated at the heart of the Oracle is The Riverside, a vibrant promenade stretching along both sides of the river, featuring a wide range of restaurants and bars, as well as the 10screen Warner Village Cinema, and an art gallery. In the Hexagon complex, you will find top-quality entertainment all the year round (and one month can boast appearances by a top rock band, a Mozart opera, acts by the nations favourite entertainers, as well as top-class films), while several other theatres and venues ensure a whole spectrum of film, music and performance. Surrounding these complexes are a very wide selection of wine bars, pubs, cafes, restaurants and shops to cater for all tastes. For those who need a break from the pubs, cinemas and clubs, there are the Chiltern Hills and the Berkshire Downs in the

surrounding countryside. Or if you are going further, the town is close to the M4, while fast trains will take you to London (22 minutes), Oxford, Birmingham or Bristol. 8 Source: http://www.doksinet INTERNATIONAL STUDENTS The University of Reading has a long history of welcoming students from other countries. They represent one-fifth of the student community of the University, and currently come from 124 different countries. The presence of students from a wide variety of backgrounds and cultures has helped to create a stimulating international environment for all members of the University. Reading maintains more than 550 formal academic links with universities around the world. Many of our staff have held senior posts abroad and have first-hand and recent knowledge of many countries. The University of Reading has for many years made a substantial contribution to the education and training of people from overseas, many of whom returned to attain leading positions in their

countries. Services for international students Information Before leaving home students will be provided with comprehensive information about the University and studying in the UK. Meet and greet Arrangements can be made for students with special needs to be met on arrival at Heathrow or Gatwick Airports. Welcome and orientation The International Welcome Programme is organised for all new international students to ensure that they settle quickly into life in Reading. It starts 10 days before teaching commences. 9 Source: http://www.doksinet Centre for Applied Language Studies The Centre provides a course in English for Academic Purposes for over 200 students from July to September each year. For those students who need further help with English alongside their academic courses, tutorial support and classes are provided (free of charge for students paying the full overseas fee) during the year by the In-sessional Language Support Programme, which is run by the Centre. For more

extensive language support, students may join the English Language & Study Skills Course which runs from October to the end of March. This course also offers intensive language and study preparation for postgraduate students beginning their studies in January or April of the academic year. For further information contact the Course Administrator, CALS, The University of Reading, PO Box 241, Reading RG6 6WB, UK The normal requirement for entry is a minimum average score in the International English Language Testing System (IELTS) of 7.0 The American Test of English as a Foreign Language (TOEFL) may be accepted with a score of 590, but this test does not include oral or continuous prose tests and the University therefore normally also requires applicants to take the additional TOEFL Test of Written English. We also accept the Cambridge Certificate of Proficiency at Grade B. Advice The International Student Adviser and Study Adviser will assist with any problems which may be

encountered. Hospitality Hospitality is arranged by the International Office for students from overseas who wish to enjoy a visit to a British home. The International Office The International Office is concerned with all the overseas activities and interests of the University. It organises the Welcome Programme for new international students, 10 Source: http://www.doksinet arranges programmes for academic and official visitors from abroad, promotes the University overseas, and services the Universitys International Committee. 11 Source: http://www.doksinet GUIDE TO OUR MSc COURSES AND MODULES The Department of Economics currently offers nine MSc courses in Economics, Accounting, Banking and Finance (in addition to the MA and MSc courses offered through the Graduate Centre for International Business, the ISMA Centre, and the Centre for Euro-Asian Studies). The objectives of the MSc programme are to provide specialist training directly based on the research interests and

activities of the staff of the Department of Economics, while the structure of the courses and their flexibility enables students to select modules which meet their interests, abilities and career intentions. The nine MSc courses are as follows: Business Economics International Business and Finance International Banking and Financial Services Multinational Accounting and Financial Management Economic Development and International Trade Development Economics and Policy International Business and Economic Development International Business and Economic Integration International Business History These are 9 month courses which begin in October and consist of 8 modules, which may be made up either from taught units or from taught units and a dissertation. Each module consists of twenty hours of lectures and seminars in which the lecturer guides you through the subject matter of the module, presents the fundamental elements of relevant analysis and technique and stimulates discussion. It

is important to appreciate, however, that the lectures and seminars are only the ‘tip of the iceberg’ of acquiring sufficient knowledge and understanding to pass the MSc. Fundamentally you read for an MSc degree and this involves substantial hours of study using the journal articles and books detailed on your module reading list. Equally, you will find that your lecturers, who are all experts in their field, are eager to help and encourage you 12 Source: http://www.doksinet to understand and appreciate their own specialist areas of research. Postgraduate study is less formal than undergraduate studies; you will get to know your lecturers and they will readily advise and help you with your studies. Each degree course consists of core modules and options and the wide range of modules on the MSc programme enables you either to specialise in areas directly related to your degree subject or to widen your expertise, according to your interests and intended career. The choice of

optional modules which you are asked to indicate before you come to Reading is only for administrative purposes (such as drawing up the timetable) and your Course Director (who also acts as your tutor) will advise you on the most appropriate choice when you arrive at Reading. A dissertation is not compulsory, but we would strongly advise any student contemplating further research work, either for a PhD or in future employment, to select a dissertation topic. Assessment is primarily by an end of year examination in each module generally consisting of a two-hour examination with two questions selected from a choice of five questions. Most modules include assessed coursework as part of the degree assessment and in this case the examination carries a weight of 80% and the coursework 20%. Precise details of the form of assessment for each module is provided by the convenor of each module at the beginning of the term in which it is taught. 13 Source: http://www.doksinet MSc COURSES The

programme is of 9 months duration and consists of the following degree courses: Business Economics I Business Strategies and Policy II Policies Towards Business: National and International Antitrust Policy III, IV Entrepreneurship and Economic Theory (2 modules) V, VI either Applied Econometrics or Econometrics (2 modules) VII, VIII Two further modules selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules or a dissertation Development Economics and Policy I Macroeconomic Policy in Developing Countries II Macroeconomic Policy and Structural Adjustment for the Developing Countries III Paradigms of Trade and Industrialisation in Developing Countries IV Developing Countries in the World Economy V, VI Agricultural Policies for Developing Countries (2 modules) VII, VIII Two further modules selected (subject to fulfilling the qualification for the subject and availability) from 5, 6, 10, 24, 25, 28, 29, 33 and

Agricultural Project Planning and Management in Developing Countries, Appraisal of Agricultural and Rural Development Projects, [details of these modules, which are taught by the Department of Agricultural Economics, are available on request from the Department of Economics] or a dissertation 14 Source: http://www.doksinet Economic Development and International Trade I Paradigms of Trade and Industrialisation in Developing Countries II Developing Countries in the World Economy III Macroeconomic Policy in Developing Countries IV Macroeconomic Policy and Structural Adjustment for the Developing Countries V, VI, VII, VIII Four modules or Two modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules International Banking and Financial Services I The Economics of Banking II Banking and Financial Services III Financial Markets IV Financial Regulation V, VI, VII, VIII Four modules or Two

modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules, at least two of which must be selected from 8, 9, 18 and 19 International Business and Economic Development I Theoretical Approaches to the Multinational Enterprise (MNE) II Global Strategy and Implication of Multinational Enterprise (MNE) III Paradigms of Trade and Industrialisation in Developing Countries IV Developing Countries in the World Economy V, VI, VII, VIII Four modules or Two modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules 15 Source: http://www.doksinet International Business and Economic Integration I Theoretical Approaches to the Multinational Enterprise (MNE) II Global Strategy and Implication of Multinational Enterprise (MNE) III European Economic Integration I IV European Economic Integration II V, VI, VII, VIII Four

modules or Two modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules International Business and Finance I, II either Comparative International Management (2 modules) or Theoretical Approaches to the Multinational Enterprise (MNE) and Global Strategy and Implications of Multinational Enterprise (MNE) III Financial Markets IV Financial Regulation V, VI, VII, VIII Four modules or Two modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules, at least two of which must be selected from 8, 9, 18 and 19 International Business History I, II The Development of International Business (2 modules) III, IV A dissertation of approximately 10,000 words on an approved topic in international business history, to be submitted by 15 May V, VI, VII, VIII Four modules selected (subject to fulfilling the qualifications for the

subject and availability) from the remaining modules 16 Source: http://www.doksinet Multinational Accounting and Financial Management I International Accounting II Multinational Financial Reporting and Analysis III Financial Markets IV Financial Regulation V, VI, VII, VIII Four modules or Two modules and a dissertation selected (subject to fulfilling the qualifications for the subject and availability) from the remaining modules, at least two of which must be selected from 7, 8 and 9 17 Source: http://www.doksinet MODULES The Department offers a wide range of 45 modules in applied economics, accounting, banking and finance. In selecting your degree course and optional modules, you should note the qualifications required for the module. In addition to the description of the content of the module, the outlines also provide a short list of preparatory reading which will give you a ‘flavour’ of the content of the module. Modules are taught either in the Autumn or

Spring terms (double modules are taught over both terms) and it is advisable to choose options from each term so that your workload is evenly divided over the year. Assessment is usually by means of an examination (weighting 80%) taken in June and coursework (weight of 20%). Details of the form of the examination and coursework will be provided by the module convenor. The Department of Economics offers the following postgraduate modules (subject to fulfilling the qualifications for the module and availability. 1. Agricultural Policies for Developing Countries (2 modules) 2. Management and Culture 3. The Economics of Banking 4. Banking and Financial Services 5. Business Strategies and Policies 6. Policies Towards Business: National and International Antitrust Policy 7. Comparative Management 8. Corporate Finance 9. Financial Markets and Corporate Governance 10. Econometrics (2 modules) 11. Economic Integration in Europe I 12. Economic Integration in Europe II

13. Strategy, Policy and Impact of Multinational Enterprise 14. Banking in Transition Economies 15. Entrepreneurship and Economic Theory (2 modules) 18 Source: http://www.doksinet 16. Long-Term Economic Perspectives 17. History of Economic Thought 18. International Accounting 19. Multinational Financial Reporting and Analysis 20. Theoretical Approaches to the Multinational Enterprise (MNE) 21. Global Strategy and Implications of Multinational Enterprise (MNE) 22. Financial Markets 23. Financial Regulation 24. Technology, Trade and Growth 25. International Political Economy 26. Macroeconomic Policy in Developing Countries 27. Macroeconomic Policy and Structural Adjustment for the Developing Countries 28. Introductory Econometrics 29. Quantitative Methods for Micro and Macroeconomics 30. Managing Innovation 31. Technological Innovation and Industrial Competitiveness 32. The Emergence and Growth of Multinational Enterprise 33. EU Economic

Relations with the Developing Countries 34. Multinational Food Business in the UK and North America 35. Paradigms of Trade and Industrialisation in Developing Countries 36. Developing Countries in the World Economy 37. Urban Economics 38. Regional Economics 39. E-Business Strategy 40. Development Beyond Central Planning I 41. Development Beyond Central Planning II 42. Issues in Financial Development in Emerging Economies I 43. Issues in Financial Development in Emerging Economies II 44. Management and Business in Emerging Markets I 45. Management and Business in Emerging Markets II 19 Source: http://www.doksinet 46. A dissertation of approximately 10,000 words on an approved topic in the field, to be submitted by 15 May (2 modules) 45. A special subject which, from time to time, may be offered by a distinguished visiting scholar to the Department 20 Source: http://www.doksinet M.1 Agricultural Policies for Developing Countries - M.1 (2 modules)

Convenor: Dr. Steve Wiggins Qualifications: None Aims and Objectives: Students understand the issues that arise when making choices of policy for agricultural development, including a knowledge of the debates that surround key areas of agricultural policy. Subject Outline: The scope for public action in agricultural development; the role of agriculture in development; markets, state and voluntary action; government and market failures. Topics in agricultural development policy: Autumn Term (AE A24) • prices of farm output • agricultural and rural credit (and rural financial services) • environmental concerns and issues • agricultural research and technology policy Spring Term (AE B24) • land tenure • food security and famine • irrigation • livestock • plantations • agricultural inputs Teaching Methods: Ten lectures in each of the Autumn and Spring terms. Assessment: A three-hour examination paper in June and course assessment consisting of a project and a

test Preparatory Reading: Ellis, F., (1992), Agricultural Policies in Developing Countries, Cambridge University Press. Hayami, Y., and Ruttan, VW, (1985), (2nd ed), Agricultural Development: an international perspective, Baltimore, Maryland, The John Hopkins University Press Upton, M., (1996), The Economics of Tropical Farming Systems, Cambridge University Press 21 Source: http://www.doksinet M.2 Management and Culture Convenor: Professor Geoffrey Jones Qualifications: No specific pre-requisites Subject Outline: This course (and M.7) is concerned with national variations in management structure and organisation, and what happens when different management cultures meet. This module discusses key issues in international management, such as the role of the managers in society and gender and management, and the theory and practice of cross-cultural management: • Culture and organisation • International negotiation • Overseas Chinese management • Small and Medium-Sized

Enterprises • Middle Managers • Gender • Culture and motivation • Comparative management education: the evolution of systems • Managing multiculturalism and diversity Teaching Methods: 20 hours of lectures, plus fortnightly classes in the Spring term. Assessment: 1 essay or a project, and a test. 2 hour examination in June Preparatory Reading: Richard Mead, International Management, Cross Cultural Dimensions 2nd Edition, (1998) is the recommended textbook. Terence Jackson, Organisational Behaviour in International Management (1993) Nancy J. Adler, International Dimensions of Organisational Behaviour (1997) Frans Trompenaars, Riding the Waves of Culture (1993) 22 Source: http://www.doksinet M.3 The Economics of Banking Convenor: Dr George Tridimas Qualifications: Intermediate macroeconomics and microeconomics and familiarity with basic mathematical methods Subject Outline: 1. Rationale and principles of financial intermediation 2. Financial markets,

instruments and institutions Retail and wholesale banking Non banking financial institutions 3. Modelling bank behaviour: Industrial organisation and banking structure Portfolio theory 4. Credit rationing Teaching methods: 20 hours of lectures and seminars in the Autumn term. Assessment: Course work: (a) One essay (50% of course work mark) (b) One1-hour test: (Three previously unseen questions to answer one - 50% of course work mark) Examination: 2 hour examination in June Preparatory Reading: Heffernan, S., Modern Banking in Theory and Practice, J Wiley 1996 Howells, P.GA and Bain K, The Economics of Money Banking and Finance, 1998 Longman C. Goodhart, Money, Information and Uncertainty, 2nd edition 1989 J. Piesse, K Peansell and C Ward, British Financial Markets and Institutions An international perspective, 3rd edition, Prentice Hall, 1995 23 Source: http://www.doksinet M.4 Banking and Financial Services Convenor: Dr George Tridimas Qualifications: Intermediate

macroeconomics and microeconomics and familiarity with basic mathematical methods + “The Economics of Banking” (see above) Subject Outline: 1. Risk management in banking 2. Financial regulation 3. Financial Innovation 4. International banking 5. Macroeconomic issues in banking: Banks and monetary policy Teaching methods: 20 hours of lectures and seminars in the Spring Term Assessment: Course work: One essay; course work counts for 1/3 of the final mark. Examinations: 2 hour examination in June Preparatory Reading: Heffernan, S., Modern Banking in Theory and Practice, J Wiley 1996 Howells, P.GA and Bain K, The Economics of Money Banking and Finance, 1998 Longman C. Goodhart, Money, Information and Uncertainty, 2nd edition 1989 J. Piesse, K Peansell and C Ward, British Financial Markets and Institutions An international perspective, 3rd edition, Prentice Hall, 1995 24 Source: http://www.doksinet M.5 Business Strategies and Policies Convenor: Professor Michael

Utton Qualifications: Good grades at intermediate level (eg 2nd year at UK university, 300 level at US university) microeconomics Subject Outline: I Issues in Strategic Behaviour • non-collusive oligopoly • pricing to deter entry • non-price strategies to deter entry II Business Policies • price discrimination • product differentiation and advertising • diversification Teaching Methods: 20 hours of lectures and seminars in the Autumn Term Assessment: A two hour examination paper in June (carrying a weight of 80%) and coursework (carrying a weight of 20%) Preparatory Reading: Hay, D. and Vickers, J (1987) The Economics of Market Dominance, Blackwells, chapter 1 Carlton, D. and Perloff, J (2000) Modern Industrial Organisation, 3rd ed, Harper Collins, parts 1 and 2 25 Source: http://www.doksinet M.6 Policies Towards Business: National and International Antitrust Policy Convenor: Professor Michael Utton Qualifications: Good grades at intermediate level (eg

2nd year at UK university, 300 level at US university) microeconomics Subject Outline: I Economic Foundations of Antitrust Policy II Framework of EU and US Policy III Specific Issues • horizontal dominance • tacit collusion • horizontal and vertical mergers IV International Issues • conflicts of trade and antitrust standards • proposals for an international antitrust policy • international civil aviation: a case study Teaching Method: 20 hours of lectures and seminars in the Spring term Assessment: A two hour examination paper in June (carrying a weight of 80%) and coursework (carrying a weight of 20%) Preparatory Reading: Hay, D. and Vickers, J (1987) The Economics of Market Dominance, Blackwells, chapter 4 Ordover, J.A Economic Foundations of Competition Policy [Social Science Reading Room] Jacquemin, The International Dimension of European Competition Policy, Journal of Common Market Studies, 1993 26 Source: http://www.doksinet M.7 Comparative

Management Convenor: Professor Geoffrey Jones Qualifications: No specific pre-requisites Subject Outline: This course (and M.2) is concerned with national variations in management structure and organisation, and what happens when different management cultures meet. This module analyses the evolution of national corporate governance systems. • Management: different definitions • National business systems and their transfer • Spain and Portugal • United Kingdom • United States • French Management • Italy • Japan • German management Teaching Methods: 20 hours of lectures, plus fortnightly classes in the Autumn term. Assessment: 1 essay, and a test. 2 hour examination in June Preparatory Reading: David J. Hickson (ed), Management in Western Europe (1993); David J. Hickson (ed), Exploring Management Across the World (1997) 27 Source: http://www.doksinet M.8 Corporate Finance Convenor: Dr. Carol Padgett Qualifications: Intermediate microeconomics,

calculus Subject outline: • • • • • • • • • Capital budgeting under certainty Risk and uncertainty Capital asset pricing model 1: derivation and uses Capital asset pricing model 2: evidence and alternatives Firm financing 1: capital structure, the perfect markets case Firm financing 2: capital structure, information asymmetries and agency problems Firm financing 3: dividend policy Risk management 1: hedging decisions and the use of derivatives Risk management 2: option pricing Teaching methods: Twenty hours of lectures, and four hours of seminars in the Autumn term Assessment: Two assignments and a test (20%) and examination in June (80%) Preparatory reading: Copeland, T.E and JF Weston (1988) Financial Theory and Corporate Policy Addison Wesley chapter 1, appendices A, C, D. 28 Source: http://www.doksinet M.9 Financial Markets and Corporate Governance Convenor: Dr. Carol Padgett Qualifications: Previous study of finance (covering the topics on module

8) or module 8, intermediate microeconomics Subject outline: • • • • • • • • • Introduction to financial markets Information and signalling The efficient markets hypothesis Mergers and acquisitions 1: motives, means and financing Mergers and acquisitions 2: stock market reactions, managing the process Buyouts Corporate governance 1: the role of markets and institutions Corporate governance 2: the role of managerial remuneration Corporate governance 3: international aspects Teaching methods: Twenty hours of lectures and four hours of seminars in the Spring Term Assessment: An essay and a test (20%) and examination in June (80%) Preparatory reading: Brealey, R.A and SC Myers (1999) Principles of Corporate Finance McGraw Hill 29 Source: http://www.doksinet M.10 Econometrics (2 modules) Convenor: Professor K.D Patterson Qualifications: Successful completion of an introductory course in statistics Subject Outline: 1. The classical linear regression model

1.i specification of the model 1.ii estimation of the model 1.iii properties of OLS and ML estimation 1.iv hypothesis testing and interval estimation 2. General linear statistical model with non-scalar identity covariance matrix. 3. Model specification 4. Seemingly unrelated regression equations (SURE) 5. Identification in simultaneous equation models 6. Estimation in simultaneous equation models (covering, for example, indirect least squares, two stage least squares, three stage least squares and recursive systems). 7. Maximum likelihood estimation. 8. Principles and practice of hypothesis testing. Teaching Methods: 40 hours of small group seminars and lectures. Assessment: 3 hour formal examination in June, and project Preparatory Reading: Judge, G., Hill, RC, Griffiths, WE, Lutkepohl, H, and Lee, T, (1982), Introduction to the Theory and Practice of Econometrics, Wiley Maddala, G.S, (1988), Introduction to Econometrics, Collier Macmillan Patterson, K.D, (2000), An

Introduction to Applied Econometrics, Palgrave 30 Source: http://www.doksinet M.11 Economic Integration in Europe I Convenor: Dr. Yelena Kalyuzhnova Qualification: Preferably intermediate level economics Subject Outline: This module gives a brief overview of the mechanisms of decisionmaking in the European Union (EU) and the different steps towards an integrated Europe. It then examines in-depth the Single Market Programme and its consequences and the latest moves towards the inclusion of new member states, especially from Central and Eastern Europe. Topics covered include: Decision-Making in the European Union, The 1992 Programme and its Objectives, EU-CEEC’s Integration and Russia’s Trade with the EU. Teaching Methods: 20 hours of lectures and seminars in the Autumn term. Assessment: Coursework – 2,000 word essay and a test. Examination Preparatory Reading: The recommended textbook for the course is Michael J. Artis and Norman Lee (eds), The Economics of the

European Union. Policy and Analysis, 2nd ed, Oxford: Oxford University Press 1997. To familiarise themselves with the history and the current issues of economic integration in Western Europe students are encouraged to read Loukas Tsoukalis, The New European Economy Revisited, Oxford: Oxford University Press 1997. Most of the economic theory and the different policies are also developed in more detail in the following books, however with a different level of (technical) difficulty: Ali M. El-Agraa, The European Union History, Institutions, Economics and Politics, 5th ed, London: Harvester Wheatsheaf 1997 and Theo Hitiris, European Union Economics, 4th ed., London: Harvester Wheatsheaf 1997 31 Source: http://www.doksinet M.12 European Economic Integration II Convenor: Dr. Odile Janne Qualification: Introductory course in Economics Subject Outline: This module focuses on European monetary integration and the major economic policies of the European Union. It critically examines

the theoretical and practical implications of the main policies of the European Union. Topics covered include: • The European Monetary System and move towards monetary union • Tax harmonisation • The Common Agricultural Policy • The Trade and Development Policy • European integration and multinational corporations Teaching Methods: 20 hours of lectures and seminars in the Spring term. Assessment: Coursework – an essay and a test. Examination in June Preparatory Reading: De Grauwe, P. (2000), The Economics of Monetary Union, 4th ed, Oxford University Press El-Agraa, A. (2001), The European Union History, Institutions, Economics and Politics, 6th ed., London: Harvester Wheatsheaf Artis, M.J and Lee, N (eds) (1997), The Economics of the European Union Policy and Analysis, 2nd ed., Oxford: Oxford University Press McDonald, F. and Dearden, S (eds) (1999), European Economic Integration, 3rd ed, Longman 32 Source: http://www.doksinet M.13 Strategy, Policy and Impact of

Multinational Enterprise Convenor: Professor Geoffrey Jones Qualifications: Completion of ‘Emergence and Growth of MNE’ module. Subject Outline: This course examines the evolution of multinational strategies, government policies towards multinational firms, and the impact of international business. • Mergers and acquisitions • Alliance capitalism • The service sector • Natural resources • The host economies • Policy in the developed world • Multinational Impact: the developed world • Policy in the developing world • Multinational impact: the developing world Teaching Methods: 20 hours of lectures, plus case study seminars in the Spring term Assessment: 1 essay or a project, presentation and a test. 2 hour examination in June. Preparatory Reading: Geoffrey Jones, The Evolution of International Business (1996) 33 Source: http://www.doksinet M.14 Banking in Transition Economies [CES1] [Not available for students taking M.3, M4, M22, M23] Convenor: Dr.

Yelena Kalyuzhnova Qualifications: Introductory course in economics Subject Outline: The Economics of Banking: • Financial instruments, markets and institutions; • Principles of financial intermediation; • Banking sector structure and competition; • Models of bank behaviour. Banking Reform in Transition Economies: • Financial intermediation and economic development, • Bank performance in Transition Economies; • Bank Restructuring in Transition Economies: The payments system, • The problem of bad loans, • Bank privatisation and regulation; • Monetary policy in Transition Economies Teaching Methods: 20 hours of lectures and classes in the Lent Term Assessment: One written assignment and a test. Examination in June Preparatory Reading: Heffernan, S., Modern Banking in Theory and Practice, J Wiley 1996 Anderson, Ronald, W., Erik Berglof and Kalman Miszei, "Forum Report of the Economic Policy Initiative, No. 1: Banking sector development in Central and

Eastern Europe", 1996, Centre for Economic Policy Research and Institute for East West Studies 34 Source: http://www.doksinet M.15 Entrepreneurship and Economic Theory (2 modules) Convenor: Professor Mark Casson Qualifications: First degree in which economics is a significant component Subject Outline: Autumn Term Theoretical Principles The aim of the unit is to (1) introduce and critically appraise major economic theories of entrepreneurship, and suggest how they can be synthesised; (2) develop techniques of economic analysis which are particularly relevant to the study of entrepreneurial behaviour; (3) investigate the relationship between economic and social, psychological and historical aspects of entrepreneurship. 1. Introduction. (a) Historical origins of the entrepreneur. (b) Varieties of entrepreneurship. (c) The ideological role of the entrepreneur. (d) The functions of the entrepreneur. 2. Theories of entrepreneurship: a critical review. (a) Profit and

uncertainty-bearing. (b) Market process. (c) Innovation. (d) Management with discretion. 3. The entrepreneur as intermediary (a) A monopoly of information. (b) Encompassing models. (c) Bargaining factors. (d) Risk-bearing 4. Entrepreneurship and the theory of the firm (a) Information costs. (b) Transaction costs (c) The organisation of market-making 35 Source: http://www.doksinet 5. Entrepreneurial networks: local, national and international (a) Network linkages (b) Network configurations (c) Examples of networks 6. The anatomy of entrepreneurial decision-making (a) Complexity. (b) Judgement. (c) Ownership structure. 7. The organisation and growth of the firm (a) The division of labour within the firm (b) Optimal procedures (c) Theory of the growth of the firm 8. Personality, culture and leadership (a) Economic man versus ethical man (b) Economic functions of culture (c) Low-trust versus high trust leadership 9. Historical role of the entrepreneur (a) International

trade (b) The industrial revolution (c) The IT revolution 10. The market for entrepreneurship. (a) Volatility as a demand factor. (b) Immigration. (c) Education. (d) Family background and career choice Spring Term: Small Business Economics The aim of the unit is to (1) Summarise and critically review the literature on small business economics that has developed over the last 15 years. (2) Analyse the managerial problems of small firm start-up and growth. (3) Examine global economic changes and policy innovations that have affected the overall size of the population of small firms. 36 Source: http://www.doksinet 1. Introduction (a) (b) (c) Basic definitions The dynamics of the small firm population Summary of statistical evidence 2. The psychology of the small-firm entrepreneur: an example from case studies of SME exporters. 3. Management constraints in Small Firms (Triang case) 4. Stages in the growth of the firm 5. Financing SMEs: the Venture Capital Market (New

Covent Garden Soup Company case) 6. Role of SME in supply chains 7. SMEs in niche product markets (Morgan case) 8. Franchising for SMEs 9. Government policies towards SMEs 10. Project seminar Teaching Methods: 40 hours of lectures and seminars in the Autumn and Spring terms. Assessment: Coursework and final examination. Preparatory reading: Ricketts, M. The Economics of Business Enterprise: New Approaches to the Firm, 2nd edition, Hemel Hempstead: Unwin Hyman. Casson, M.C The Entrepreneur: An Economic Theory, Oxford: Martin Robertson, 1982, especially chapters 1, 2, 5, 7, 9-12, 16-20. Casson, M.C (ed) Entrepreneurship (International Library of Critical Writings on Economics) Cheltenham: Edward Elgar, 1990. 37 Source: http://www.doksinet M.16 Long-Term Economic Perspectives Convenor: Professor Walter Eltis Qualifications: First year economics Subject outline: This module surveys the writings of the greatest mercantilist and classical economists, and shows how

their ideas are still highly relevant to the issues which dominate economics today. The first section examines mercantilist and subsequent debates over money, banking and inflation, and the role of the state. The second section considers the theories of industrialisation and growth of François Quesnay, Adam Smith and Thomas Malthus, and their views of the role of economic policy. Teaching methods: 20 hours of lectures in the Autumn term. Assessment: Coursework – essay. Examination in June Preparatory reading: Blaug, M. (1978), Economic Theory in Retrospect, Cambridge University Press; Walsh, V. and Gram, H (1980), Classical and Neoclassical Theories of General Equilibrium, Oxford University Press; Eltis, W.A (1984), The Classical Theory of Economic Growth, London: Macmillan 38 Source: http://www.doksinet M.17 History of Economic Thought Convenor: Professor John Cantwell Qualifications: First year economics Subject outline: This module looks at the history of economic

thought with a particular focus upon classical political economy, but from the viewpoint of considering the modern relevance of past and ongoing debates in economics. It begins with a survey of the major schools of economic thought and considers a recurring debate over the role of money in economic growth or inflation. The second section considers the role of wages and profits in promoting economic growth, and the role of rising labour productivity and technological progress. Alternative views of recession, business cycles and unemployment are also discussed. A further section is devoted to work on international trade. The module concludes with a summary of the approaches of the major classical economists, and of the leading post-classical economists, with a comparison between the two. Teaching methods: 20 hours of lectures and tutorials in the Spring term. Assessment: Coursework – Project. Examination in June Preparatory reading: Smith, A. (1776), An Inquiry into the Nature and

Causes of the Wealth of Nations; Ricardo, D. (1817), The Principles of Political Economy and Taxation; Marx, K (1867), Capital, Volume 1. Marx, K., (1867), Capital, Volume 1 39 Source: http://www.doksinet M.18 International Accounting Convenor: Professor Christopher Nobes Qualifications: Some former study of accounting, or attendance at the two-day pre-sessional seminar organised by the Department. Subject outline: Causes and nature of international differences in financial reporting; classification of countries by accounting differences; detailed study of financial reporting in the US, France, Germany, Japan and Eastern Europe. Teaching methods: 20 hours of lectures and seminars in the Autumn term. Assessment: Coursework - two case studies. Examination in June Preparatory Reading: C.W Nobes and RH Parker, Comparative International Accounting, Prentice Hall, 2000. 40 Source: http://www.doksinet M.19 Multinational Financial Reporting and Analysis Convenor: Professor

Christopher Nobes Qualifications: Completion of “International Accounting” unit. Subject outline: Harmonisation of financial reporting in Europe and internationally; segment reporting; currency translation; accounting plans; cash flow accounting; international taxation comparisons; financial analysis. Teaching methods: 20 hours of lectures and seminars in the Spring term. Assessment: Multiple choice test. Examination in June Preparatory Reading: as for “International Accounting”. 41 Source: http://www.doksinet M.20 Theoretical Approaches to the Multinational Enterprise (MNE) Convenor: Robert Pearce Qualifications: Good first degree in Economics or Management, but no specific requirements. Subject Outline: Definition of MNE. Reasons for a theory of MNE separate from that of foreign direct investment. Historical emergence of MNEs. The eclectic framework as an approach to MNEs. Discussion of each element of the selection framework. Other theoretical approaches to

MNE (product cycle; oligopolistic behaviour). Use of the theory to evaluate the implications of MNEs. Teaching methods: 20 hours of lectures and seminars in the Autumn term. Assessment: Coursework - essay and test. Examination Preparatory Reading: P. Dicken, Global Shift (3rd ed), Chapman Publishers, 1999 42 Source: http://www.doksinet M.21 Global Strategy and Implications of Multinational Enterprise Convenor: Robert Pearce Qualifications: Good first degree in Economics or Management, but no specific requirements. Subject Outline: Description of the competitive aims and strategic nature of the modern MNE. The variety of roles played by individual subsidiaries and how they support an integrated global strategy. Technology in MNEs. How MNEs use decentralised R&D to generate new technology and apply a globalised approach to product innovation. How the MNEs’ behaviour affects industrialisation and development in national economies. Teaching Methods: 20 hours of

lectures and seminars in the Spring term. Assessment: Coursework – essay and test. Examination in June Preparatory Reading: P, Dicken, Global Shift, (3rd ed), Chapman Publishers, 1999 43 Source: http://www.doksinet M.22 Financial Markets Convenor: Dr. Animesh Shrivastava Qualifications: Good grades at intermediate level in microeconomics Subject Outline: • • • • • • • • Financial Markets, Uncertainty, and Resource Allocation Inventory Models of Market Microstructure Information-based Models of Price Formation Imperfect Information and Rational Expectations Asymmetric Information and Market Viability Market Liquidity and Trading Halts Dynamic Trading and Market Volatility Frenzies and Crashes in Financial Markets Teaching methods: Twenty hours of lectures and classes in the Autumn term. Assessment: A final examination in June Preparatory Reading: O’Hara, M. (1997) Market Microstructure Theory, Blackwell 44 Source: http://www.doksinet M.23

Financial Regulation Convenor: Dr. Animesh Shrivastava Qualifications: Good grades at intermediate level in microeconomics Subject Outline: • • • • • • • • • Financial Regulation: Rationale and Key Issues Incentive Structures for Financial Regulation Risk Regulation Trading with Privileged Information: ‘Insider’ Trading Market Manipulation; Self-Regulation vs. Statutory Regulation Corporate Governance: overview and key issues Executive Compensation and Internal Control Large Shareholders and Other Control Mechanisms Takeovers and the Market for Corporate Control Teaching methods: 20 hours of lectures and classes in the Spring term Assessment: A final examination Preparatory Reading: Goodhart, C., P Hartmann, D Llewellyn, L Rojas-Suarez and S Weisbrod (1998) eds, Financial Regulation, Routledge 45 Source: http://www.doksinet M.24 Technology, Trade and Growth Convenor: Professor John Cantwell Qualifications: Intermediate macroeconomics Subject

Outline: This module takes a predominantly macroeconomic view of technological change and its impacts in the world economy. Attention is especially focused on the dynamics of international trade and production, including the relationship between trade and economic growth, trade imbalances and protectionism, and the impact of technological innovation on international competitiveness. The emphasis is on the modern applicability of the classical theory of international trade and growth, brought upto-date to consider the increased importance of technological change and the internationalisation of industries. The context provided by greater international interdependence as well of finance and capital movements is also examined. Teaching methods: Twenty hours of lectures and seminars in the Autumn term. Assessment: Coursework – test. Examination in June Preparatory reading: Cantwell, J.A (1989), Technological Innovation and Multinational Corporations, Oxford: Basil Blackwell; Dosi,

G., Pavitt, K and Soete, LLG (1990), The Economics of Technical Change and International Trade, London: Harvester Wheatsheaf; Wakelin, K. (1997), Trade and Innovation: Theory and Evidence, Cheltenham: Edward Elgar. 46 Source: http://www.doksinet M.25 International Political Economy Convenor: Professor John Cantwell Qualifications: First year economics Subject outline: This module considers the problems of trade imbalances, currency fluctuations, developing country indebtedness, the economic interaction of developed and developing countries, inflation and unemployment. It analyses the reasons for these problems and the debate over which international macroeconomic policies represent the most effective response. This module also looks at international patterns of innovation and technology transfer, and assesses the possibility of long waves in the world economy. Teaching methods: Twenty hours of lectures and seminars in the Spring term. Assessment: Coursework – essay.

Examination in June Preparatory reading: Armstrong, P., Glyn, A, & Harrison, J (1991), Capitalism since 1945, Oxford: Basil Blackwell; Maddison, A. (1991), Dynamic Forces in Capitalist Development: A Long-Run Comparative View, Oxford University Press; Archibugi, D., Howells, J and Michie, J (eds, 1999), Innovation Policy in a Global Economy, Cambridge University Press. 47 Source: http://www.doksinet M.26 Macroeconomic Policy in Developing Countries Convenor: Dr. Marina Della Giusta Qualifications: Good understanding of basic macroeconomics Aims and Objectives: To provide an understanding of macroeconomic issues in developing countries. The lectures aim to provide the theoretical tools to critically assess different areas of macroeconomic policy in developing countries. The lectures are supported by empirical evidence presented in seminars based on group work. Students are expected to do the general background readings for all the topics covered, and to complement them

with additional ones for the topics they choose to analyse in more depth. Moreover, they are also expected to acquire knowledge of examples from specific developing countries that will provide empirical support for the theoretical arguments. Subject Outline: • • • • • Basic concepts in open economy macroeconomics and models of open economy macro for DCs Revision of open economy macroeconomics and growth theory Discussion of the assumptions of the standard model and the presentation of the characteristics of markets in developing countries (product market, agricultural supply response, capital market failure, labour market – formal/informal and rural/urban Prices formation and inflation Fiscal, monetary and exchange rate policy in developing countries Teaching Methods: Twenty hours of lectures and seminars in the Autumn term. Assessment: Coursework – a 3,000 word essay and a test. Examination in June Preparatory Reading: Hossain, A. and Chowdhury, A Open Economy,

Macroeconomics for Developing Countries, Edward Elgar, 1998 Taylor, L., Varieties of Stabilization Experience: Towards Sensible Macroeconomics in the Third World, Oxford: Clarendon, 1998 48 Source: http://www.doksinet M.27 Macroeconomic Policy and Structural Adjustment for Developing Countries Convenor: Dr. Marina Della Giusta Qualifications: Good understanding of macroeconomics. Aims and Objectives: Follows from M.26 and discusses macroeconomic issues and structural adjustment in Developing Countries. In particular, it contains the IMF approach to stabilisation IMF, the World Bank and structural adjustment), and discusses some general problems facing DCs (debt, aid, reform). The lectures are supported by empirical evidence presented in seminars based on group work. Students are expected to do the general background readings for all the topics covered, and to complement them with additional ones for the topics they choose to analyse in more depth. Moreover, they are also

expected to acquire knowledge of examples from specific developing countries that will provide empirical support for the theoretical arguments. Subject Outline: • • • • • • Growth theory Presentation and critical discussion of the IMF’s model and relative stabilisation package The World Bank’s model and structural adjustment policy Discussion of three main controversies: the problem of debt The role of aid The issue of political-economic interactions and of economic reform Teaching methods: Twenty hours of lectures and seminars in the Spring term. Assessment: Coursework – 3,000 word essay and a test. Examination in June Preparatory Reading: Bird, G., International Finance and the Developing Countries: Issues and Policies, Macmillan, 2000 49 Source: http://www.doksinet M.28 Introductory Econometrics Convenor: Dr. Simon Burke Qualifications: No student having taken more than a first year undergraduate course in statistics of quantitative methods will be

allowed to take this course as a full module as part of their degree course. This module is aimed at those students new to the Department who have little or no background in the area of quantitative economics but are otherwise well qualified. It is therefore suitable for students who are attending other (non-econometric) courses where an econometric background is assumed, or would be useful. An example is a module that includes project work where this is likely to be of a statistical nature. Foundations for these elements of study will be provided. Knowledge of Word, Excel, access to e-mail, use of the internet is required 1. All students (except those taking IBH and MAFM) selecting a dissertation must take this module as part of their preparation for the dissertation. Subject Outline: Lectures Statistical and Mathematical Underpinnings: hypothesis testing and optimisation The Bivariate Regression Model Mathematics for the Multivariate Regressions Model: matrix algebra and

optimisations Multivariate Regressions Classical Linear Regression Model: a framework for estimation and testing Testing Regression Models Topics in Time Series Generalised Least Squares Computing There will be 5 hours of classes in the use of the econometrics package Microfit (Peseran and Peseran, 1997). For preliminary work in regression, Excel will be used. Teaching Methods: Two hours of lectures per week, one class hour per week, 5 hours of computer classes; weekly class work – in the Autumn term. Assessment: Coursework – one test on the term’s work, one computer-based exercise. Examination in June 1 These prerequisites may be satisfied by attending the appropriate courses run by the University of Reading IT Services. Students must attend such courses as early as possible in the Autumn term 50 Source: http://www.doksinet Students taking this module as part of their preparation for the dissertation will be required only to do the coursework and NOT the examination.

The coursework mark will contribute towards the overall dissertation mark. Preparatory Reading: Koop, G. (2000) Analysis of Economic Data Wiley Ramanathan, R. (1992) Introductory Econometrics with Applications, 2nd edition Harcourt Brace Jovanovich 2 Thomas, R.L (1997) Modern Econometrics Addison-Wesley 2 A 3rd edition is now available, but references are to the second edition. 51 Source: http://www.doksinet M.29 Quantitative Methods for Micro and Macroeconomics Convenor: Dr. Geoffrey Meen Qualifications: Word, Excel, access to email, use of the internet 3, either M.28, Introductory Econometrics, or a mark of 60% or more in the M.28 test 4 Familiarity with the Econometrics package Microfit. 5 Subject Outline: This module builds on M.28, Introductory Econometrics, developing a wider set of techniques, or greater use than those in the earlier module. It is designed to be of use to students choosing to undertake dissertations, and it is strongly recommended that such students

take the module. Applications to macro and microeconomics play an important role, demonstrating on a practical level how the methods may be applied. Objectives (i) To develop a familiarity with a set of more sophisticated statistical techniques used in empirical economic research. (ii) To develop competence in the application of these techniques. Lectures Simultaneous Equation Methods: systems of equations including VARs and concepts of exogeneity Methods of Panel Data Analysis Aggregation and Common Stochastic Trends Qualitative Response Methods Basic GARCH Models Computing Instruction will be given in the use of the computer package EViews. Familiarity with Microfit will be assumed Teaching Methods: Two hours lectures per week, one class hour per week, computer classes as necessary in the Spring term Assessment: By examination and continuous assessment. Exam: standard examination, 2 questions form 5, 90 minutes. Continuous Assessment: two exercises. 3 These prerequisites may be

satisfied by attending the appropriate courses run by the University of Reading IT Services. Students must attend such courses as early as possible in the Autumn Term 4 Students who did not take M.28 may take the M28 test at the end of the Autumn term If they achieve a mark of 60% or more they may take M.29 However, a working knowledge of ALL the material of M28 will be assumed and it is therefore the responsibility of the student to ensure (s)he has this familiarity, regardless of the mark obtained. 5 Those not familiar with Microfit but intending to take M.29 but not M28 should attend the Microfit lectures of M.28 52 Source: http://www.doksinet M.30 Managing Innovation Convenor: Professor John Cantwell Qualifications: No prerequisites Subject outline: This module examines how the business firm depends critically on its technological and related skills to achieve its central strategic objectives: to sustain and develop its existing businesses; to identify and exploit new

business opportunities; to cope with major and unexpected opportunities and threats facing the firm. Introductory lectures consider the determinants and characteristics of technological change, and the linkages between science and technology. The following contentions are then assessed: Firmspecific knowledge is an essential feature of competitive success Corporate strategy should therefore include a strategy for managing innovation, the purpose of which is deliberately to accumulate and exploit such firm-specific knowledge. Teaching methods: Twenty hours of lectures and classes in the Autumn term. Assessment: End of term test and Examination in June. Preparatory reading: Tidd, J., Bessant, J and Pavitt, KLR (1997), Managing Innovation: Integrating Technological, Market and Organizational Change, Chichester: John Wiley; Christensen, C.M (1997), The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail, Harvard University Press; Rosenbloom, R.S and Spencer, WJ

(eds, 1996), Engines of Innovation: US Industrial Research at the End of an Era, Harvard Business School Press. 53 Source: http://www.doksinet M.31 Technological Innovation and Industrial Competitiveness Convenor: Professor John Cantwell Qualifications: First year economics Subject outline: The module examines the implications of technological change as a learning process, for corporate competitiveness and capturing the returns to innovation. The innovative records of large and small firms are compared. International technological competition is considered with reference to the historical success of US firms, and the modern success of Japanese companies. The use of patent statistics is appraised as a means of measuring patterns of innovation. The course concludes with a discussion of organising innovation in the firm, and of technology policies. Teaching methods: Twenty hours of lectures in the Spring term. Assessment: Coursework – Essay. Examination in June Preparatory

reading: Nelson, R.R and Winter, SG (1982), An Evolutionary Theory of Economic Change, Harvard University Press; Rosenberg, N. (1982), Inside the Black Box: Technology and Economics, Cambridge University Press; Dosi, G., Freeman, C, Nelson, RR, Silverberg, G and Soete, LLG (eds, 1988), Technical Change and Economic Theory, London: Frances Pinter. 54 Source: http://www.doksinet M.32 The Emergence and Growth of Multinational Enterprise Convenor: Professor Geoffrey Jones Qualifications: No specific pre-requisites Subject Outline: This module examines the emergence of multinational and their subsequent growth, followed by an examination of national patterns in international business. • Course Introduction • Theory • The origins of international business before 1914 • International business in the Inter-War period • International business in the Global era • The growth and competitiveness of United States Multinationals • British and Germany Multinationals •

Multinationals from Smaller European Economies • The growth of Japanese Multinational Enterprise Teaching Methods: 20 hours of lectures, plus case study seminars in the Autumn term Assessment: 1 essay or a project, presentation and a test. 2 hour examination in June. Preparatory Reading: Geoffrey Jones, The Evolution of International Business (1996) 55 Source: http://www.doksinet M.33 EU Economic Relations with the Developing Countries Convenor: Matthew McQueen Qualifications: Basic microeconomics and macroeconomics Subject Outline: • • • • • The structure of the EU’s preferential and non-preferential trade relations The Generalised System of Preferences Traditional and non-traditional effects of preferential trade agreements. Preferential agreements with the African, Caribbean and Pacific countries. The Euro-Mediterranean agreements Teaching Methods: Twenty hours of lectures and seminars in the Autumn term. Assessment: Coursework – one 3,000 word

essay and a test. Examination in June. Preparatory Reading: Regionalism and the World Trading System, World Trade Organisation, Geneva, 1995 Regional Partners in Global Markets, ed. A Galal and B Hoekman, London, Centre for Economic Policy Research, 1997 Europe’s Preferred Partners? The Lomé Countries in World Trade, London, Overseas Development Institute, 1995 56 Source: http://www.doksinet M.34 Multinational Food Business in the UK and North America Convenor: Professor Ted Collins Qualifications: No specific pre-requisites Objectives: To examine the development of the US food industry from 1900 to the present day, with special reference to US multinational firms Subject Outline: • • • • • Food manufacturing and retailing in the US and Britain The role of brands in multinational food business Social and economic factors in US diet. International dietary convergence US multi-national food companies in Britain US and British food multinationals in developing

countries The course will look at the following companies: Heinz, Kellogg, Quaker, Cargill, MacDonalds, Coca Cola, Pepsi Cola, Nestlé, Borden, General Foods, United Fruit, Tate & Lyle, Unilever, Diageo, Tesco, United Distillers, Danone Teaching Methods: 20 hours of lectures and seminars in the Spring term Assessment: Examination paper and coursework assessed during the year Preparatory Reading 57 Source: http://www.doksinet M.35 Paradigms of Trade and Industrialisation in Developing Countries Convenor: Matthew McQueen Qualifications: Good understanding of basic microeconomics and macroeconomics Objectives: To provide a rigorous examination of the theories of trade and industrialisation which form the basis for policy making in developing countries, and to examine the main controversies in the light of the most recent empirical evidence Subject Outline: • • • • • The neo-classical theory of the gains from trade, controversies regarding static versus

dynamic gains from trade, declining terms of trade. The neo-classical critique of import protection and the evidence on ‘outward’ versus ‘inward’ oriented trade policies. Theories and strategies for industrialisation. The complementary roles of the state and the market. Lessons from the NICs. The role of small and medium-sized firms in the process of industrialisation in developing countries and the support systems required to sustain these enterprises. Teaching Methods: 20 hours of lectures and classes in the Autumn Term Assessment: Examination paper and coursework. The coursework will consist of one 3,000 word essay and a 2 hour test taken at the end of the term. Preparatory Reading: Williamson, J. and C Milner, The World Economy, Harvester Wheatsheaf, 1991 Hunt, D., Economic Theories of Development, Harvester Wheatsheaf, 1989 58 Source: http://www.doksinet M.36 Developing Countries in the World Economy Convenor: Matthew McQueen Qualifications: Preferably,

introductory course in economics Aims and Objectives: To provide a good understanding of the international trade environment in which developing countries have to formulate domestic policy Subject Outline: • • • • The implications of technological change and the liberalisation of goods and factor markets for developing countries. The multilateral trading system and the World Trade Organisation (WTO) agreements. The political economy of preferential trade agreements. The special problems of small economies. Teaching Methods: 20 hours of lectures and classes in the Spring term. Assessment: Examination paper and coursework. The coursework will consist of one 3,000 word essay and a 2 hour test taken at the end of the term. Preparatory Reading: World Bank, World Development Report 1995, Workers in an Integrating World Hoekman, B., and M Kostecki, The Political Economy of the World Trading System, Oxford University Press, 1995 World Trade Organisation, Regionalism and the

World Trading System, Geneva, WTO, 1995 59 Source: http://www.doksinet M.37 Urban Economics Convenor: Dr. Graham Crampton Qualifications: Good first degree in Economics, or a joint degree with substantial material on urban and regional studies. Subject Outline: 1. Evolving Economic Function of Cities 2. Residential Location Theory 3. Urban Labour Markets 4. Urban Externalities 5. Urban Transportation in Developed Countries 6. Issues in Urban, Regional and International Housing Markets 7. Local Public Services 8 & 9. Urban Development and Regeneration Policy in Europe 10. Cities in Developing Countries Teaching Methods: Weekly seminars of two hours. In the second of the two hours, students are invited to contribute to discussion. Assessment: Two essays of 2,000 words each, plus a 2 hour final examination. Preparatory Reading: P.C Cheshire and ES Mills (1999) (eds) Handbook of Regional and Urban Economics, Volume III, Applied Urban Economics. Elsevier:

North Holland 60 Source: http://www.doksinet M.38 Regional Economics Convenor: Dr. Philip McCann Qualifications: Good first degree in Economics, or a joint degree with substantial material on urban and regional studies. Subject Outline: 1. Definition of Regions 2. Regional Location Theory 3. Regional Growth Theory I 4. Regional Growth Theory II 5. Measuring Regional Disparities 6. Alternative Strategies for Regional Development 7. Regional Adjustment Processes 8. Structural Change and the Regions 9. The Evolution of Regional Policy in the European Union 10. The Evaluation of Regional Policy Teaching Methods: Weekly seminars of two hours. In the second of the two hours, students are invited to contribute to discussion. Assessment: Two essays of 2,000 words each, plus a 2 hour final examination. Preparatory Reading: H. Armstrong and J Taylor (1993) Regional Economics and Policy Harvester Wheatsheaf. 61 Source: http://www.doksinet M.39 E-Business

Strategy Convenor: Professor James Pemberton Qualifications: No subject prerequisites Subject Outline: What is e-business? Review and overview The economics of e-business – transaction cost economics E-business architecture and models The industry environment Co-operation vs competition The ‘flat’ landscape Competitive advantage The internet and economy Multinational corporations (MNCs) and e-business The future Teaching Methods: 20 hours of lectures and case discussion in the Spring Term Assessment: Students will be evaluated on the basis of: class participation during case discussions, followed by individual written submissions; examination in June. Preparatory Reading: Shapiro, Carl and Varian, H.R, Information Rules: A Strategic Guide to the Network Economy, Boston: Harvard Business School Press, 1999 62 Source: http://www.doksinet M.40 Development Beyond Central Planning I [CES2] Convenor: Dr Yelena Kalyuzhnova Qualification: Preferably intermediate level

Economics Subject Outline: The module examines changes over time in the origins, principles and management of economic systems which have moved away from central planning, and provides a comprehensive view of the economic heritage and the economic trends in transitional economies, both from a theoretical and practical viewpoint; and of the responsibilities of the West. Teaching methods: 20 hours of lectures and seminars in the Autumn term. Assessment: Essay and test. Examination in June Preparatory Reading: A. Alund (1995) How Russia Became a Market Economy The Brookings Institution, Washington, D.C J. Gibson, P Hanson (ed) (1996) Transforming from Below Edward Elgar, Cheltenham, UK, Brookfields, US. J. Kornai (1992) The Socialist System Clarendon Press Oxford R. Pomfret (1995) The Economies of Central Asia Princenton University Press, Princeton, New Jersey. 63 Source: http://www.doksinet M.41 Development Beyond Central Planning II [CES3] Convenor: Dr Yelena Kalyuzhnova

Qualification: Preferably intermediate level Economics and Module 40 Subject Outline: The Module continues to examine changes over time in the origins, principles and management of economic systems which have moved away from central planning. All students are required to give a country presentation which will include the economic overview of the given country throughout the years of transition. Teaching methods: 20 hours of lectures and seminars in the Spring term. Assessment: Oral presentation and a project. Examination in June Preparatory Reading: M. Blanchard (1997) The Economics of Post-Communist Transition Clarendon Press. Oxford J. Kornai (1992) The Socialist System Clarendon Press Oxford M. Lavigne (1999) The Economics of Transition Macmillan London 64 Source: http://www.doksinet M.42 Issues in Financial Development in Emerging Economies I [CES4] [Not available to students taking M.3, M4, M22, M23] Convenor: Dr. Animesh Shrivastava Qualifications: Good grades at

intermediate level in microeconomics Subject Outline: Financial Development and Economic Growth • Financial System: An Analytical Perspective • Basic Functions of a Financial System • Institutional Organisation of the Financial System • Financial Development and Economic Growth • Financial Restraint and Financial Liberalisation: Theory • Financial Restraint and Financial Liberalisation: Evidence • Financial System, Corporate Governance and Public Enterprise Reform • Capital Flows to Developing Countries • Long Term Finance • Finance for Small and Medium Enterprises and Informal Sectors Teaching Method: 22 hours of lectures and classes in the Autumn term Assessment: Coursework and final exam in June. Preparatory Reading: D.B Crane et al (1995) The Global Financial System: a functional perspective, Harvard Business School Press N. Hermes and R Lensink, ed (1996) Financial Development and Economic Growth, Routledge. 65 Source: http://www.doksinet M.43 Issues

in Financial Development in Emerging Economies II [CES5] [Not available to students taking M.3, M4, M22, M23] Convenor: Dr. Animesh Shrivastava Qualifications: Good grades at intermediate level in microeconomics Subject Outline: Regulation and Reform of Financial Systems • Role of State in Financial Development • Legal Determinants of Finance • Incentive Issues in Financial Reform • Financial Sector in Developing Countries • Experience of Financial Reform in Developing Countries • Financial Sector in Transitional Economies • Experience of Financial Reform in Transitional Countries • East Asian Crises: Problems and Lessons • Reform of the International Financial System • Financial Sector Development: Prospects and Challenges Teaching Method: 22 hours of lectures and classes in the Spring term Assessment: Coursework and final exam in June. Preparatory Reading: D.B Crane et al (1995) The Global Financial System: a functional perspective, Harvard Business

School Press N. Hermes and R Lensink, ed (1996) Financial Development and Economic Growth, Routledge 66 Source: http://www.doksinet M.44 Management and Business in Emerging Markets I [CES6] Convenor: Dr. Yelena Kalyuzhnova Qualifications: No specific pre-requisites Subject Outline: This programme aims to familiarise students with management and business foundations in emerging markets (including Euro-Asia). The course draws on the latest relevant research, its main objective is the practical application of the knowledge acquired, through the comparison of managerial and business practices in emerging markets, the in-depth treatment of major common themes, and the discussion of a wide range of industry and company case studies. Teaching Method: 20 hours of lectures and classes in the Autumn term. Assessment: Coursework and final exam in June. Preparatory Reading: Simon Johnson and Gary Loveman, Starting over in Eastern Europe: Entrepreneurship and Economic Renewal, Boston,

Mass., Harvard Business School Press, 1995 The Handbook of Strategy and Management (eds) Andrew Pettigrew, Howard Thomas and Richard Whittington. London : Paul Chapman, 2001 67 Source: http://www.doksinet M.45 Management and Business in Emerging Markets II [CES7] Convenor: Dr. Yelena Kalyuzhnova Qualifications: No specific pre-requisites Subject Outline: This programme aims to familiarise students with management and business foundations in emerging markets (including Euro-Asia). The course draws on the latest relevant research, its main objective is the practical application of the knowledge acquired, through the comparison of managerial and business practices in emerging markets, the in-depth treatment of major common themes, and the discussion of a wide range of industry and company case studies. Teaching Method: 20 hours of lectures and classes in the Spring term. Assessment: Coursework and final exam in June. Preparatory Reading: Simon Johnson and Gary Loveman,

Starting over in Eastern Europe: Entrepreneurship and Economic Renewal, Boston, Mass., Harvard Business School Press, 1995 The Handbook of Strategy and Management (eds) Andrew Pettigrew, Howard Thomas and Richard Whittington. London : Paul Chapman, 2001 68 Source: http://www.doksinet M.46 Dissertation (2 module weight) The purpose of a dissertation is to carry out research on a topic selected by the student, in consultation with a member of the staff of the Department, and approved by the Director of Studies. The dissertation should not exceed 10,000 words and is submitted by 15th May in the year of graduation. To encourage students to apply quantitative techniques to the subject matter of their research, all students writing a dissertation, except those following degrees in Multinational Accounting and Financial Management and International Business History, have to take module M.28 in econometric methods in the Autumn term This module provides a basic training in the subject

using PC-based software and is therefore of value to all students whether or not they have followed lecture-based courses in econometrics. This module is assessed by means of an end of term test and projects and these marks form part of the overall assessment of the dissertation. We also encourage students to continue in the Spring term with module M.29 Quantitative Methods for Micro and Macroeconomics, particularly if this is relevant to their research. The dissertation topic, together with a short statement of the aims and objectives of the research and the intended methodology, is submitted in the second half of the Autumn term. A personal supervisor is then appointed to guide and advise the student for the remainder of the course. The option of writing a dissertation is available on all of the degree courses and is strongly advised for students planning to progress to a PhD or research-based employment. Course Directors will advise students when they meet them individually at the

beginning of the course. 69 Source: http://www.doksinet FEES AND SCHOLARSHIPS Postgraduate Studentships in the Department of Economics The following Scholarships are awarded annually by the Department of Economics: 1. Overseas Scheme Bursaries of £2,000 to two overseas students. The award will be made to the best qualified applicant and will be announced as soon as we have received details of degree results (late July/August). 2. Home/EU Scheme One Scholarship equivalent in value to an ESRC studentship for a home/EU student. The award will be made to the best qualified applicant and will be announced as soon as we have received details of degree results (late July/August). The Scholarship student will be expected to offer up to 40 hours of class supervision in the teaching of economics and/or statistics. Career Development Loans This scheme enables students intending to follow vocational courses to obtain a loan from a bank to assist with payment of fees and, in certain

cases, living expenses. The interest on the loan is paid by the government for the duration of the course and for three months thereafter. Further information can be obtained from your bank or careers office. 70 Source: http://www.doksinet Fees and Expenses UK/EU students: Fees for 2001/02: £2,805. It is anticipated that this fee will increase in future years in line with inflation. In the case of the MSc courses in International Banking and Financial Services, International Business and Finance and Multinational Accounting and Financial Management, the fee for 2001/02 is £5,700 and will be adjusted annually. Overseas students: Fees for 2001/02: £6,900. It is anticipated that fees will increase in future years in line with inflation. In the case of the MSc courses in International Banking and Financial Services, International Business and Finance and Multinational Accounting and Financial Management, the fee for 2001/02 is £6,200 and will be adjusted annually. All enquiries

regarding eligibility under these two classifications should be addressed to Postgraduate Admissions, Faculty of Letters and Social Sciences. In addition to tuition fees, we recommend that students allow around £5,000 (at 2000 prices) for accommodation, meals, books and other expenses (but excluding travel to and from Reading) during the course. 71 Source: http://www.doksinet APPLICATION FOR ADMISSION An application form for admission can be obtained from: Sub-Dean Faculty of Letters and Social Sciences The University of Reading Whiteknights PO Box 218 Reading RG6 6AA Please note the instructions for completing the form and in particular: 1. Enclose, with your application form, the two academic references in the envelopes provided by the University of Reading 2. If your degree is from a University outside the UK, please also enclose a transcript showing all the courses you have taken and the grade (or mark) obtained in each course. If you are in the final year of your course

please also state the courses you will be examined in. Overseas applicants - level of English A good standard of English is an essential requirement for admission to a course. Please include, therefore, the results of any English Test already taken. The University has found that the International English Language Testing System (IELTS) administered by the British Council provides the most reliable indication of an applicants ability to cope with an academic course, and the normal minimum requirement is 7.0 The American Test of English as a Foreign Language (TOEFL) may be accepted with a score of 590, but this test does not include oral or continuous prose tests and the University therefore normally also requires applicants to take the additional TOEFL Test of Written English. The Cambridge Certificate of Proficiency at Grade B is also accepted. If you have not taken an English Test, 72 Source: http://www.doksinet return the application forms, but arrange to take a test as soon as

possible and forward the result to the Faculty Office. Closing Date for applications from overseas is normally 1 July. All applicants should be aware that University accommodation in halls of residence, particularly with self catering facilities, is very popular and demand always exceeds supply. It is therefore advisable to apply for a course as soon as possible. Accommodation The University is well endowed with thirteen Halls of Residence which range in age, size and character, but all are within easy reach of the campus. Most of the Halls provide meals but self-catering accommodation is also available. The great majority of students live in the Halls of Residence, but their close proximity to the University means that there is always an excess demand for places and it is therefore advisable to apply as early as possible for a place in Hall. You will automatically be sent an Accommodation Form by the Faculty Office if you are offered a place on the MSc programme. If you do not want

a place in Hall, then the University Accommodation Service will assist you in providing advice and details of private accommodation. 73 Source: http://www.doksinet CONTACTS The Department and the University maintain extensive websites which provide a lot more information than can be provided in this brochure. Website for the Department is: http://www.readingacuk/Econ Website for the University is: http://www.readingacuk Website for Reading Town is: http://www.readinggovuk Mail Mrs. L Newcombe, Department of Economics, The University of Reading, PO Box 218, Reading, RG6 6AA, UK Telecommunications: Telephone: (+44) (0) 118 931 8233 Fax: (+44) (0) 118 975 0236 E-mail: L.Newcombe@readingacuk 74