Applied Economics for Decision Making 30 Credits
Course ContentsThis course is designed to provide students with the tools and knowledge in how to solve economic problems that the student might encounter later in his/her career. The course combines a variety of theories and perspectives to enable students to develop theoretical and practical knowledge about different economic fields, as well as an understanding of which methods to use in order to solve problems an provide material for decision making within these fields. As such, the knowledge gained by students in the course will help them to assess which information is needed, how to produce such information, and how to analyse it in order to make a decision regarding an economic problem.
The course consists of 5 modules of 6 credits each. The individual modules are explained below:
Module 1: Evaluation methods
The objective of this module is to offer the students a toolbox for the upcoming modules, covering cost-benefit analysis (CBA) and statistical methods relevant for economic evaluation using quantitative data. An introduction to CBA is given, both of its theoretical basis as well as the typical steps to follow when performing a CBA. Also, contemporary issues of CBA are covered such as discounting, benefit transfer and optimism bias. The econometrical part fundamentally concerns quantifying and interpreting economical relationships using statistical techniques. The student will here be introduced to different statistical models such as (but not restricted to) models based on limited dependent variables and models based on panel data. The knowledge of this module is not only useful for the next coming modules, but also relevant for analyzing policy evaluations and governmental reports, as well for the upcoming thesis writing.
Module 2: Geographical economics
The objective of this module is to give students knowledge about the location aspects of economic phenomena, based on various forms of scale economies, externalities, and transport costs. The course will provide the student with a capacity to critically analyze economic problems relating to location, specialization, and trade between regions/countries. It will give students an understanding of the sources of the geographic concentration of economic activity. It will deal with the questions regarding the trade-off between economic efficiency and geographic inequalities and related policy choices. The content of the module is tightly linked to research in the field of geographical economics and New Economic Geography (NEG).
Module 3: Entrepreneurship
This module focuses on the role of entrepreneurs and entrepreneurship. The role of entrepreneurs for economic growth and development is well-documented both at the national and regional levels. Entrepreneurs contribute to productivity growth, innovations, employment growth, and increased level of competitiveness where some of the positive effects on employment and wages stretch beyond the entrepreneur themselves and into the wider local economy. However, entrepreneurship is a heterogeneous phenomenon in which for example innovative entrepreneurs are mixed with more typical entrepreneurs in the forms of passive followers, over-optimistic gamblers, and individuals endeavoring to find an alternative to unemployment. This module will provide students with knowledge about entrepreneurship, focusing both at the individual level of the entrepreneur and the wider consequences for the economy.
Module 4: Public and health economics
This module concerns the associations between health, education, labor market and marital outcomes over the life course, and the interplay between individuals and institutions from this respect. The considered processes are studied from both theoretical and empirical perspectives with emphasis on the variation in health and its determinants. A main focus is set on the empirical establishment of causal relationships between the studied entities.
Module 5: Environmental economics
The faster deterioration of environment and necessity to rely on the green and circular economic policies as an effective environmental management tool has stimulated considerable research and debate among stakeholders. This module covers an overview of the green and circular economics. It contains a number of integrated parts related to energy, environment, resource economics and economic growth. Part I introduces the students to the recent development in green economics as a concept, its theoretical foundation, political economy, development strategy and sustainable development. Part II covers the circular economy, networks, organizations, policies, infrastructure and measurable expected effects. Part III is related to the empirical research in the area in respect with theory, data, method and estimation result and findings. The final Part IV covers future development with focus on directions, policy, organizations, capacity, areas and interventions.
Connection to Research and Practice
Parts of this course are directly related to the focus areas at Jönköping International Business School (JIBS): entrepreneurship and renewal. Parts of the course are also tightly connected to the Center of Entrepreneurship and Spatial Economics (CEnSE) at JIBS, which focus on entrepreneurship and regional development/growth.
Throughout the course connections will be made to real-word applications to enhance the students learning and ability to make use of the taught skills in their later careers. The students will also appreciate how these skills can be used in policymaking to influence the development of society, and how theory and empirical work can be used to guide policy.
PrerequisitesThe applicants must hold the minimum of a bachelors's degree in Economics equal to 180 credits including 15 credits in Mathematics/Statistics/Econometrics
Level of Education: Master
Course code/Ladok code: JEDR21
The course is conducted at: Jönköping International Business SchoolLast modified 2021-12-01 13:47:05