Escuela de Ciencias Sociales

We all take economic decisions every day and are affected by other people’s decisions, at a local, national and global level. Economics is the study of these decisions and actions, and of the way economic processes work, allowing a better understanding of the society in which we live.
Our degree programmes offer comprehensive training in economic analysis and quantitative methods, equipping you with the skills and expertise demanded by employers in industry and finance. Particular emphasis is given to new developments in economics, providing an excellent grounding for a career as a professional economist.

You will develop in-depth knowledge of the discipline, along with key problem-solving, communication and data analysis skills. All our programmes contain significant mathematical and statistical components.

We offer two types of programme: single honours, for those who want to specialise in economics; and joint honours, for those who want to combine their interest in economics with another subject (subject to some restrictions, students can transfer between programmes). Particular emphasis is given to new developments in economics (eg the economics of information, game theory, credible macroeconomic policy, the measurement of inequality and the analysis of financial data), so our programmes provide an excellent grounding for any career, including as a professional economist. You will be taught by leading economists, with international reputations in their fields. The Economics Division at the University of Southampton has strengths in all the main areas of economics.

Areas de Investigación Económicas

Econometrics
We have three core strengths: econometric and statistical theory; the applied econometrics of labour markets; and financial econometrics. Our research is based on the application of advanced methods to economic problems. Staff John Aldrich: History of econometrics; the work of Irving Fisher; general history of economic thought Grant Hillier: Mathematical statistics; hypothesis testing; multivariate distribution theory; higher-order asymptotic theory Maozu Lu: Econometric theory; empirical finance, with application to the Chinese stock market Grayham Mizon: Econometric models in forecasting and economic policy analysis; analysis of model selection and evaluation Raymond O’Brien: Econometric theory; Bayesian econometrics; numerical analysis and computing Jean-Yves Pitarakis: Econometric theory for financial applications; estimation and inference in time-series models (threshold models); econometric modelling of investment strategies; asymptotic theory Jan Podivinsky: Time series; small-sample methods; financial econometrics; empirical finance Chris Schluter: Statistical and empirical topics in income distributions; consequences of moderate sample sizes and data dependence for inferential procedures; testing for outliers Jackie Wahba: Child labour in developing countries; migration and remittances

Macroeconomics
We are engaged in research relating to fundamental issues of macroeconomic theory and their economic policy problems. Our staff form one of the largest macroeconomics groups in the UK. Our research focuses on the use of modern macroeconomics tools to address policy-relevant questions, and we are developing new macroeconomic models with microfoundations. Staff David Benjamin: Different bankruptcy procedures; routes through which a financial crisis can affect the real economy John Bluedorn: Empirical work in international macroeconomics; empirical investigations of monetary policy effectiveness and transmission Hector Calvo Pardo: International trade and finance; learning and coordination; macroeconomics of uncertainty; choice and expectations Martin Gervais: Macroeconomics; optimal policy; life-cycle models; public finance; risk sharing and inequality John Knowles: Macroeconomics of the family; child labour; wealth distribution; racial profiting Omar Licandro: Macroeconomics; capital vintages; the demographic transition Xavier Mateos-Planas: Political economy; personal bankruptcy; labour markets; implications of technology adoption for earnings inequality and development Morten Ravn: Macroeconomic theory; business cycles; international macroeconomics and trade Alice Schoonbroodt: Interaction between intrahousehold decision making and the macroeconomy; using micro- and macroeconomic data Mirco Tonin: Labour economics; minimum wage; tax evasion Akos Valentinyi: Can externalities generate multiple equilibria, given empirical plausible parameter values? What accounts for the poverty of certain countries?

Microeconomics
We work on the analytical foundations of modern microeconomics and important areas of economic policy. We focus on the economic analysis of the drivers and effects of information and innovation on economic performance. Our research ranges across microeconomic theory, industrial organisation, labour economics and development economics. Staff Spyros Galanis: Microeconomic theory; game theory; decision theory; political economy David Gill: Industrial organisation; political economy; behavioural economics; game theory Antonella Ianni:
How learning and evolution can provide a rationale for commonly used equilibrium notions in game theory to examine consensus formation in populations Larry Karp: Industrial economics; international trade; the time consistency of plans; consequences for the efficiency of equilibrium Max Kwiek: Reputation considerations in auction design Robin Mason: Applied and theoretical microeconomics, with a focus on the economics of information and industrial organisation Carmine Ornaghi: Economics of innovation, involving empirical modelling of productivity growth, mergers and acquisitions, and the pharmaceutical industry Giulio Seccia: Personal bankruptcy; the value and welfare effects of the release of information by government agencies; effects of anxiety on optimal decision making Peter Smith: Economics of LDCs; poverty alleviation in sub-Saharan Africa; measurement of levels of living; socio-economic accounting Geoff Stewart: Empirical work on measures of quality of life; industrial organisation issues (empirical and theoretical) Jian Tong: Dynamics of market structure, and how finance affects industrial organisation Juuso Valimaki: Economic theory, in particular, information acquisition in mechanisms, and work on “bad reputation” Thierry Verdier:Political economy; international trade; urban economics Michael Vlassopoulos: Applied microeconomics; development economics; economics of non-profit organisations and NGOs Find out more: www.southampton.ac.uk/socsci/economics/research

Investigación

Economics at Southampton is a young group which prides itself on its vibrant and collegial environment, within which it carries out rigorous research with international impact. 80% of senior members are under 45; over half of our members are engaged in joint work with others in the group. We aim to do high quality research that is original, relevant within the discipline or to policy-makers, in an environment that is exciting, enjoyable and challenging.

In line with our international composition (there are 17 different nationalities in the group), our members are active in disseminating research world-wide, being heavily involved in presenting in seminars, conferences and policy institutions throughout the UK, Europe and North America. Our work is disseminated further through our interactions with external—commercial, government, and non-governmental—bodies.

We are dedicated to high quality postgraduate teaching and research training, and to expanding the quality and number of postgraduate students. We have a thriving postgraduate school, attracting a wide range of students from diverse backgrounds, and we have an established record of postgraduate supervision for research. Our excellence in postgraduate research training has been acknowledged by the ESRC, which has granted us mode A recognition.

There are three main research groups in our Division. They are described briefly below.

Information economics
We have a long-standing reputation in microeconomics, both theory and applied. Our research in this area is centred on the economics of information, analysing the drivers and effects of information and innovation on economic performance. The associated research group is the Centre for Research on the Information Economy (CRIE ).

Productivity, policy and macroeconomic performance
We now have one of the largest groups of macroeconomists in the UK. Members of this research group focus on a range of theoretical and empirical topics that contribute to our understanding of how productivity is determined; how it is related to macroeconomic performance; and how it is affected by economic policies and institutions.

Econometric methods
Since the founding of the Department of Econometrics in 1965, the University of Southampton has been renowned for its econometrics research. The group has two core strengths: econometric and statistical theory; and the development of state-of-the-art empirical techniques to analyse issues relating to labour markets and economic development.