Students enrolled on the Master [120] in Economics: Econometrics (joint UCL-UNamur) programme are working towards careers as economists, capable of robustly and critically analysing contemporary socio-economic issues and specialist questions from an expert analytical perspective based on quantitative economics, and capable of completing a high-level research project or filling key posts in the private, public or institutional sector.
As with all Masters studies offered by the UCL School of Economics, the goal of this Master’s course is to train academic economists capable of understanding and analysing the real economic and social issues of their era by using clear and robust analytical reasoning, explaining and communicating their analyses to different audiences and incorporating their analyses into broader contexts.
The more specific objective of the Master 120 in Economics: Econometrics programme is to produce academic economists able to:
- master specialist knowledge in subjects related to quantitative economics;
- display a command of advanced methodological tools and strong analytical skills;
- demonstrate the acquisition of expertise in an advanced field;
- examine, understand and analyse complex and advanced economic and social issues in quantitative economics:
- by developing clear, robust and highly conceptual economic reasoning and demonstrating analytical expertise based on quantitative economics;
- applying a global approach at local, national, European and worldwide level;
- discuss and debate complex issues with researchers/experts/specialists;
- draft scientific articles in the chosen specialisation.
Aware of the responsibility associated with their profession, the graduates will have adopted a critical and academic attitude and be able to make and accept decisions completely independently. The graduates will have a variety of skills, particularly in terms of concept and methodology, and will be able to question, improve and develop the contents, processes and purposes of professional practices, critically examine the innovations resulting from research and apply them in order to shed light on professional practices. They will be invested in a continuous development approach enabling them, as professionals, to demonstrate expertise, multiple skills and the ability to adapt and evolve positively in their socio-professional environment.
On successful completion of this programme, each student is able to :
1. Develop an “advanced” line of economic reasoning
Develop an “advanced” line of economic reasoning: develop an analysis of complex issues/problems from an expert perspective based on quantitative economics, implementing a robust scientific approach and using advanced methodological tools and strong analytical skills.
1.1. Identify the pertinent issue(s) and summarise the key elements required to understand them.
1.2. Identify and justify what makes a model useful and which context to use it in, particularly by identifying the role of assumptions.
1.3. With regard to real-life issues and their unique features, identify and justify the relevant analytical methods.
1.4. Develop a clear and robust line of reasoning demonstrating a high level of conceptualisation and analytical skill based on quantitative economics.
1.5. Identify and justify the relevant empirical methods to assess and examine theoretical and/or practical issues.
1.6. Collect and select the relevant data, understanding the limits and conducting an appropriate statistical analysis.
1.7. Interpret the results of the statistical analysis, explain the underlying statistical problems and limits and form pertinent conclusions concerning the issues studied.
2. “Problem solver”
Consider, analyse and resolve in-depth and complex socio-economic questions as well as advanced issues related to quantitative economics in a pertinent, critical and innovative manner using an approach based on “advanced” economic reasoning and in interaction with human sciences disciplines, displaying intellectual and methodological independence.
2.1. Identify and take into consideration the interactions between economic analyses and analyses in other human and social sciences and critically analyse them.
2.2. Develop a critical and unique perspective, distinguishing the positive and normative aspects of economics.
2.3. Suggest an original way of considering and resolving an economic and social problem based on “advanced” economic reasoning.
2.4. Demonstrate the ability to use economic tools, including advanced tools of quantitative economics, in an innovative manner.
2.5. Examine, analyse and resolve an advanced and complex socio-economic problem/issue from a global perspective: “Helicopter view and Strategic Thinking” at local, national, European and international level.
2.6. Examine, understand, analyse and debate advanced questions in quantitative economics.
3. Apply specialist skills in quantitative economics
Master and critically apply a body of specialist knowledge, tools and skills in quantitative economics to develop expertise in an advanced field (of research) in order to progress towards professional careers in high-level research or consultancy.
3.1. Master and critically apply specialist knowledge, tools and skills.
3.2. Master and critically apply specialist and advanced knowledge, tools and skills in macroeconomics.
3.3. Master and critically apply specialist and advanced knowledge, tools and skills in econometrics.
3.4. Master and critically apply specialist and advanced knowledge, tools and skills in quantitative economics and applied mathematical economics.
Develop a personal high-level scientific research project
Design and develop a personal high-level scientific research project (thesis), implementing a robust methodological approach, to explore in detail an open research issue in quantitative economics, demonstrating a level of expertise making it possible to become part of a research team at the cutting edge of quantitative economics.
4.1. Use basic and specialist tools in a pertinent manner for research in quantitative economics.
4.2. Understand, summarise and discuss high-level scientific articles within the framework of research seminars.
4.3. Devise an open research subject in quantitative economics.
4.4. Report on existing knowledge on this subject using high-level scientific articles.
4.5. Produce an in-depth personal scientific project on the research subject based on a robust methodological approach, demonstrating original scientific content (produced by the student) at the standard required for scientific publication in an international economics journal.
4.6. Prepare high-level scientific articles meeting the criteria for a scientific article published in a renowned international economics journal.
5. Communication and interpersonal skills
Communicate in French and English both verbally and in writing, in a professional manner and meeting the criteria for scientific communication, while adapting to the target audience and context, as well as collaborating respectfully and constructively with the different players involved in a given situation. Specifically in a high-level research or consultancy context.
5.1. Communicate in writing, in a clear and structured manner, in accordance with the communication standards specific to the context and adapting the communication (content and form) to the target audience and intended purpose, and more specifically to an audience of specialists.
5.2. Communicate verbally, in a clear and structured manner, in accordance with the communication standards specific to the context and adapting the communication (content and form) to the target audience and intended purpose, and more specifically to an audience of specialists.
5.3. Put their arguments across pertinently using technical language, according to the audience.
5.4. Put their arguments across pertinently in layman’s terms, according to the audience.
5.5. Integrate and work effectively within a team and with different stakeholders involved in a given situation, and more specifically with their peers, on current research issues.
5.6. Communicate articulately in English, verbally and in writing, in a clear, coherent and well-argued manner on general matters or issues relating to the field of economics, adapting to suit the audience and the context. More specifically, in a high-level research or consultancy context.
5.7. Debate and participate in discussion on complex economic issues with researchers/experts/specialists.
6. Operate in an international work environment
Operate in an international work environment, using a scientifically well-founded approach based on quantitative economics, as critical and responsible academics committed to continuous development.
6.1. Adjust to varied and complex contexts and situations and act on them appropriately in a demanding and fast-changing world.
6.2. Develop in an international and multicultural environment in which English is the lingua franca.
6.3. Apply their skills as economists (specialising in quantitative economics) and work, make decisions and act independently and responsibly to undertake a PhD in a research team at the cutting edge of quantitative economics or fill key strategic posts in the private, public or institutional sector.
6. 4. Embark on a career, applying a well-founded academic approach (from a theoretical and methodological perspective) characterised by critical detachment and with a genuine ability to influence the development of their environment.
6.5. Invest in the self-assessment, learning and continuous development required to evolve positively in a professional environment.
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