The goal of the course is to develop students’ analytical and critical thinking abilities, particularly those necessary to evaluate alternative policy options. It gives you the rigorous quantitative training necessary for today’s development work, enabling you to gain the skills necessary to access, process, and interpret a wide range of data. It aims to give those who want to pursue doctoral research in development economics the research methods and tools they need.
Macroeconomics, microeconomics, and international trade are the three economic theory courses you’ll take. You’ll also take an econometrics course and a number of development economics elective modules. Topics vary from year to year. Recent modules have covered subjects like globalization, behavioural economics, education, risk, and microfinance, as well as growth and structural change. Most of the time, students adhere to four or five of the eight available modules.
Lectures, classes, and student presentations are used to deliver the course’s development modules. Additionally, the quantitative methods course offers practical instruction in the use of specialized statistical software. Small class sizes, typically between 5 and 30, encourage active participation and allow students to benefit from one another’s knowledge.
Your general supervisor, with whom you will maintain regular contact throughout the course and who will support your academic growth, will be assigned to you. Your research interests, how well they match the supervisor’s expertise, and staff availability will all play a role in how much time is allotted to you. When the core staff is unable to provide the expertise needed for dissertation supervision, a second dissertation supervisor who has knowledge of the required field will be found. Additionally, you will have a college advisor you can talk to about matters relating to your personal wellbeing.
Feedback on problem sets and essays will serve as your on-course assessment, which will not be used to determine your final grade. Additionally, there will be five informal tests throughout the year. Once more, though these won’t count toward your degree, they’ll give you a priceless chance to gauge your progress and sharpen your exam-taking skills.
At the conclusion of the summer term, a formal examination is used to evaluate the degree. There are four written papers in this set: one each on development economics, macroeconomic theory, and international trade. The dissertation must be submitted prior to the exams, and the combined marks from the exams and dissertation will determine your final grade.
About one-third of MSc graduates pursue doctoral research in economics, typically two to three in Oxford, either right away or after gaining relevant work experience. Additionally, a sizeable number of people are now employed by the UK’s Foreign and Commonwealth Office, the International Monetary Fund, and the UN system, as well as other major international financial institutions. Numerous others work for significant consultancies and in the international NGO sector. On the ODID Alumni page, you can learn more about the professions that the department’s students choose to pursue.
What is a degree in economic development?
An academic degree in economic development is evidence of a candidate’s formal training and subject-matter knowledge. Economic development refers to the procedures and measures a government uses to influence economies, and it is also referred to as economic growth, industrialization, or modernization. Students majoring in this field study various strategies for boosting a nation’s or region’s wealth, effectively managing scarce resources, influencing the economy to benefit communities, and enhancing the standard of living for local citizens. This entails allocating land, labor, and capital to support economic growth, job creation, and financial stability.
Students studying economic development also study economic, political, and social theories, events, and contexts from throughout history. They might take courses in law, business, geography, history, and sociology. Throughout their time in school, they might also enroll in the following courses:
What can you do with a degree in economic development?
These 15 positions are available to those with economic development degrees. Please click on the links below to view the most recent Indeed salaries:
A journalist’s main responsibilities are to research public issues, business developments, and other topics, then write articles, blog posts, or other content about it. These professionals typically work for newspapers, magazines and news websites. They are typically experts at gathering information from reliable sources and relating gripping tales to audiences. Journalists who specialize in economic development could write about topics like employment trends, international affairs, thriving industries, and income distribution.
A grant writer’s main responsibilities include researching funding opportunities for an organization, writing grant proposals and applications, and submitting them. Their objective is to communicate an organization’s mission, which is typically a nonprofit, and persuade foundation committees or other donors to support a particular cause. In order to secure funding for challenging science projects, grant writers may also serve as technical writers for research or scientific organizations, colleges, or universities. Candidates with a degree in economic development could use their expertise in finance and the economy to write grants.
An international partnerships manager, also known as a partnerships manager, is responsible for coordinating relationships between businesses and business partners globally. These professionals are typically skilled at establishing rapport, speaking with stakeholders, negotiating contracts, and assisting clients. They are in charge of figuring out how to raise money, expand a business’s customer base, and enhance its brand. Students majoring in economic development may succeed in this position given their knowledge of international relations, global economies, and politics.
A social worker’s main responsibilities include connecting community members with public services and offering support. These specialists support people in overcoming obstacles, enhancing their behaviors, preserving their relationships, and living better lives. Social workers may work for government organizations such as child welfare, neighborhood centers, drug treatment facilities, schools, or other institutions. They might focus on areas like immigration, gerontology, criminal justice, family counseling, or disabilities. Candidates with a degree in economic development can use their understanding of community development and support strategies as a social worker to improve the wellbeing of locals.
A market research analyst’s main responsibilities include examining consumer market trends to determine whether a new good or service will be financially viable. These specialists are usually masters at gathering, combining, and deciphering vast amounts of data from various sources. They could, for instance, look at qualitative and quantitative data from social media analytics, customer feedback, poll results, company revenue, competitor metrics, customer demographics, and consumer preferences and habits. Additionally, they track and predict business and economic trends and evaluate the results of marketing initiatives.
An urban planner’s main responsibilities are to create concepts for the design of public spaces in cities, counties, towns, and metropolitan areas. They might make it easier to build parks, plazas, shopping centers, or neighborhoods. This position entails determining the community’s needs, developing a development strategy, taking into account potential regional effects, and carrying out design projects. To create structures and design spaces, urban planners frequently collaborate closely with architects, engineers, and other construction experts. Their work is often called urban revitalization, renewal or development.
A program manager’s main responsibilities include coordinating and supervising a number of connected projects and teams. To achieve both short-term and long-term objectives, engage audiences, and generate enough revenue to keep a business operating and profitable, these professionals plan, oversee, and evaluate organizational activities. Typically, they are accountable to company directors and executives and supervise project managers and entry-level staff. They may be employed in a variety of fields, such as sales, marketing, product development, software development, information technology, and healthcare.
A human resources manager’s main responsibilities include supervising an organization’s HR team or department. These experts make sure a company supports the welfare of its employees. Additionally, they handle duties like advertising job openings, finding and hiring candidates, integrating and training new hires, giving opportunities for continuing education and professional development to current employees, and, if necessary, terminating employment. By establishing and upholding corporate policies and procedures, resolving conflicts, and supporting effective teamwork among team members, HR managers keep a business operating. They may also host social events and team-building activities.
A business consultant’s main responsibilities are to give businesses advice. They help business owners, managers, and C-level executives with a range of tasks, including organizing an organization, setting strategic objectives, streamlining procedures, boosting productivity, creating new goods and services, and putting in place sales and marketing plans. Business consultants seek to assist small, medium-sized, and large businesses in generating revenue and carrying out their missions. Business leaders can benefit from the understanding that economic development students can provide in terms of consumer behavior, supply and demand, business viability, and other business-related topics.
A business analyst’s main responsibilities are to gather, arrange, and evaluate various kinds of quantitative and qualitative data in order to gain insightful business knowledge. These IT specialists assist business executives in thinking about and developing new projects, procedures, goods, services, and software. Executives, investors, and other stakeholders receive data-based reports and recommendations following the application of statistical research techniques and analysis of their findings. They might carry out tasks like making sales projections, researching customer data, or keeping an eye on key performance indicators.
A financial adviser’s main responsibilities include providing advice on how to use money, make wise financial decisions, and build wealth. These experts collaborate with a client to establish financial objectives and create and carry out strategies to achieve those objectives. They occasionally carry out market transactions and investments for their clients. They might offer guidance to individuals or businesses on matters like tax planning, business opportunities, insurance coverage, estate planning, retirement planning, and saving.
A policy analyst’s main responsibilities include researching public issues, creating reports, and formulating recommendations for policy changes. Additionally, they research how proposed laws and policies might affect various social groups. Usually, their objective is to influence legislation to enhance community welfare and safeguard resources. These experts might concentrate on disciplines like education, criminal justice, healthcare, or environmental law. Due to their understanding of political science and international affairs, graduates with degrees in economic development can be successful in a position as a policy analyst.
A civil engineer’s primary responsibilities include planning, constructing, and maintaining public infrastructure projects like roads, bridges, buildings, airports, tunnels, dams, canals, water supply systems, and sewage treatment facilities. Members of the community can travel and access essential services like gas and water thanks to their work. By reviewing blueprints and building codes, learning about local, state, and federal regulations, and meeting with clients, these professionals thoroughly prepare a project. Typically, civil engineers collaborate closely with architects and supervise a group of assistant engineers and construction experts.
The primary responsibilities of an architect are to create the blueprints and plans for buildings and other structures. These experts could carry out a construction project either independently or in collaboration with a client. Their creations may be found in residences, communities, schools, hospitals, commercial structures, or museums. The function, functionality, and aesthetic appeal of a building are balanced with the needs of clients or community members by architects. People in this position typically have excellent analytical and creative thinking abilities. Students studying economic development might work as architects to put their skills in program design, management, and planning to use.
An economist’s main responsibilities are to research, analyze, and report on the state of the economy. They gather and analyze a lot of data to look at how resources, goods, and services are produced and consumed. These experts may concentrate on issues like demand and supply, interest rates, inflation, trade activities, or energy costs. Typically, they publish books, articles, and other types of writing about their perceptions and analyses in periodicals, newspapers, magazines, and other publications.
Why Study Economics? The one reason you should and should NOT major in economics
FAQ
What can I do with development economics?
- NGOs and third sector organisations. …
- Government and policy. …
- Private sector. …
- Research and teaching. …
- Careers support. …
- Careers support for international students. …
- Global networks.
Is development economics a good degree?
In addition to aid and development, development economics is a crucial and underutilized tool in public policy. Real-world policy that affects millions, and occasionally hundreds of millions of people, can frequently be significantly different as a result of applied work that assesses and guides the policies of governments and NGOs.
What should I major in for economic development?
Numerous aspiring graduate students in economic development have undergraduate degrees in fields like political science, international relations, economics, sociology, anthropology, business, or mathematics.
What is BA economics with development economics?
B. The A in Developmental Economics is a three-year full-time course with six semesters, each lasting six months. Development Economics focuses on the financial aspects of low-income developing nations.
