Department of Economics - Royal Holloway, University of London

Royal HollowayUniversity of LondonRoyal Holloway is widely recognised on the world stage as one of the UK’sleading teaching and research universities. One of the larger colleges of theUniversity of London, we are strong across the sciences, social sciences, arts andhumanities. Our 8,500 students work with internationally renowned scholars in20 academic departments. The University of London degree gained by our talented,high-achieving graduates is valued the world over.As a cosmopolitan community, with students from 130 countries, we focus on thesupport and development of the individual. Our friendly campus, just 19 miles westof central London, provides a unique environment for university study. Campus liferevolves around the Students’ Union, which runs over 100 societies and sports clubs,and we are recognised as London’s best sporting college.

EconomicsThe Department of Economics at Royal Holloway isone of the UK’s leading teaching and research centresin Economics. In the recent Research AssessmentExercise, it was rated as one of the top 10 in the UK.Our degrees incorporate all the major aspects ofeconomic thought and are designed for the studentwho – regardless of future career plans – wantsto follow an intellectually challenging and diverseprogramme of study.ContentsWhy study Economics? 4Why choose Economics at Royal Holloway? 5Admissions and entry requirements 6Degree programmes and structure 8Course information 10Joint degree options 12Teaching and assessment 13Career prospects 14Other information 16Contact detailsHead of DepartmentProfessor Jeff Frank (PhD, Yale)j.frank@rhul.ac.ukAll enquiriesFaculty AdministratorT: +44 (0)1784 443381ugecon@rhul.ac.ukDepartment of EconomicsRoyal Holloway, University of LondonEgham, Surrey, TW20 0EX, UKT: +44 (0)1784 414005F: +44 (0)1784 439534This brochure is designed to complement Royal Holloway’sUndergraduate Prospectus and information on the Department’swebsite at www.rhul.ac.uk/EconomicsIt is also available as a PDF at: www.rhul.ac.uk

Why study Economics?Economics has long been the subject of choice for students seekingcareers in public and private management, in financial institutions,and in government. This is in part due to the importance of economicanalysis in all these fields. Managers need to know how marketswork and how a business can prosper in its market environment.Policy-makers need to consider the constraints imposed by economicfactors, but also the limits to the market and the role of governmentintervention. However the real, practical skills gained from anEconomics degree go beyond the understanding of economics itself.Economics students gain important quantitative and computingskills that are widely applicable. They gain experience in logical andphilosophical reasoning. They also develop their communicationabilities. Few other degree subjects provide this full complement ofskills, from the quantitative to the philosophical.Economics is a rigorous and difficult degree subject. It is importantthat students recognise this when they choose to do an Economicsdegree. While our Department maintains a friendly and informalatmosphere, students are expected to work hard. The good newsis that the market recognises and rewards the real knowledge andskills developed in an Economics degree. In addition, there is a realacademic interest to the study of Economics that does not always holdfor newer vocational subjects.4

Why choose Economics at Royal Holloway?WelcomeThe financial crisis and the new age of austerity have increased interestin Economics degrees. The new normal will involve a re-thinking ofeconomic policies to adjust to a heightened sense of reality about thefuture. This is a particularly exciting time to be studying Economics.Royal Holloway is a particularly exciting place to do these studies.Our staff are researching at the boundaries of economic analysis.We are exploring the interactions of financial markets with the realeconomy; how education needs to be adjusted to meet the demandsfor higher skilled workers; the role for immigration in a slowergrowth economy; how the public sector needs to be organised torun efficiently; natural resources and the limits to growth; how toorganise an economy where individuals do not always behave in aself-interested manner; and political economy questions such as howinsurgencies develop in countries.In the next decade, the best education is not just about learningstandard materials and preparing for standard examinations. Studentswill need to have a deeper understanding of the models and methodsof Economics, and about how to apply those models in the real world.We think Royal Holloway is the ideal place for you to engage in thatchallenging, and exciting future.Professor Jeff FrankHead of DepartmentRoyal Holloway is one of the largest colleges in the University ofLondon, which is one of the leading teaching and research universitiesin the world. Royal Holloway’s Economics Department is one of thetop research centres for Economics. It is committed to providing one ofthe best undergraduate programmes in the UK.Staff in the department have teaching experience at some ofthe leading research universities in the world including: Brown,Cambridge, LSE, Yale and Harvard. Teaching in the departmentwas given a score of 22 out of 24 in the latest rating of the QualityAssurance Agency for Higher Education (QAA). The EconomicsDepartment is recognised as joint 9th in the country in terms ofproducing the highest quality research. Eighty percent of its researchsubmitted in the latest Research Assessment Exercise (RAE 2008) isranked world-leading or internationally excellent (rated 3* and 4*).What distinguishes Economics at Royal Holloway? There are threemain features:• Royal Holloway has chosen to emphasise its undergraduateprogramme. While it maintains a small and select taught Mastersand research student programme of about 60 students, its primaryfocus is upon establishing the best undergraduate Economicsdegrees in the UK.• We have the advantage of being located on an exceptionallyattractive wooded campus in Surrey, 20 miles from central London.• We were established as a new department relatively recently in1995. This provided a unique opportunity to develop degree coursesfrom scratch. Each course, and its place within the degree structure,was planned without preconceptions. This has led to somedifferences in the course structure from those of other Economicsdepartments. For example, we give equal weight to the quantitative,theoretical and the political economy aspects of the subject. Evenmore fundamental features of the programme – the quality of thestaff, their enthusiasm, and the preparation of up-to-date lecturesbased upon the latest research – will be apparent when you visitduring an Open Day or when you attend your first lectures, classes,workshops and tutorials.5

Degree programmes and structureThe Department offers two main Single Honours Economics degrees at Royal Holloway:• BSc (Econ) Economics• BSc (Econ) Financial and Business EconomicsBoth these degrees provide an excellent background for starting a career or for further study. There is a common set of required courses thatprovide a rigorous training in quantitative economic analysis. Financial and Business Economics students then specialise in the areas of financialmarkets and industrial economics. The course units for each of these degree schemes are shown in the chart below.BSc (Econ) EconomicsYear 1EC1101 Principles of EconomicsEC1102 Quantitative Methods IEC1103 Economics WorkshopEconomics first year options or a course inanother departmentYear 2EC2201 MicroeconomicsEC2202 MacroeconomicsEC2203 Quantitative Methods IIEconomics second year options or a course inanother departmentYear 34 units from Economics final year optional coursesor3 units from Economics final year optional coursesand 1 course in another departmentBSc (Econ) Financial & Business EconomicsYear 1EC1101 Principles of EconomicsEC1102 Quantitative MethodsEC1103 Economics WorkshopEconomics first year options or a course inanother departmentYear 2EC2201 MicroeconomicsEC2202 MacroeconomicsEC2203 Quantitative Methods IIEC2211 Financial Markets and InstitutionsEC2212 Industrial Growth and CompetitionYear 3EC3313 Industrial EconomicsEC3314 Financial Economics2 units from Economics final year optional coursesor1 unit from Economics final year optional courses andone unit in another department8

Degree structureBA and BSc in Politics, Philosophy and Economics (Subject to validation)This course will provide students with the opportunity to study three disciplines that are crucial for an understanding of the complex dynamics oftoday’s world. Students will study a common foundation in the first year, and an advanced seminar and dissertation unit in their final year thatdevelops links across the three disciplines – a distinctive feature of the course. Students have great flexibility to vary their degrees in the secondand third years in such a way as to graduate with one of three awards: BSc Politics, Philosophy and Economics; BA Politics, Philosophy andEconomics; and BA Politics and Philosophy with Economics..Year 1EC1101 Principles of Economics (1 unit)EC1102: Quantitative Methods of Economics (1 unit)PR1400: Introduction to Politics and Government(1 unit)PY1001: Fundamental Questions in Philosophy(1 unit)Year 2Students must choose at least one, and no morethan two units from available courses in eachdiscipline of politics, philosophy and economics, fora total of four course units for the year.As part of their second year philosophy studentsmust take:PY2001 Introduction to European Philosophy 1:From Kant to Hegel (0.5 units)PY2002 Mind and World (0.5 units)Economics courses are limited to:EC2201 Microeconomics (1 unit)EC2202 Macroeconomics (1 unit)Year 3PPE3000: Advanced Seminar and Dissertation inPolitics, Philosophy and Economics (1 unit)A further three units of courses from availableoptions in politics, philosophy and economics mustbe undertaken. Students may concentrate theirchoices on courses from one of the disciplines,but must choose courses of at least one half-unitfrom at least two subjects. They may also dividetheir choices among all three subjects. Choices inEconomics are subject to the following conditions:1) Students can take third year Economics coursesONLY if they have taken and passed both EC2201and EC2202 in year 2.2) Students who have taken only EC2201 or EC2202in year 2 may only take the other course in year 3.Depending on course selections and achievement, students who meetthe minimum College requirements for award of degree will be eligibleto exit with one of the following degree titles:1) Students who pass at least two units worth of dedicated third yearEconomics courses will graduate with a BSc Politics, Philosophyand Economics.2) Students who pass dedicated third year Economics courses of atleast 0.5 units but less than two units will graduate with aBA Politics, Philosophy and Economics.3) Students who do not pass any third year Economics courses willgraduate with a BA Politics and Philosophy with Economics.BSc Economics, Politics and International RelationsYear 1Students must take:EC1101 Principles of Economics*EC1102 Quantitative Methods of Economics*Choose two from:PR1400: Introduction to Politics andGovernmentPR1500: Introduction to InternationalRelationsPR1520: Classic and Contemporary Readingsin Politics and International RelationsPR1600:Introduction to Research Methods in Politics andInternational RelationsYear 2EC2201 Microeconomics*EC2202 Macroeconomics*Choose two units from available courses in Politicsand International Relations**Year 3Choose two units from Economics final year optionsChoose two units from Politics and InternationalRelations final year options*** required to take and to pass for the award of the relevant degree title** the units available will be confirmed by the Department of Politics and International Relations9

Course informationFirst Year coursesPrinciples of Economics covers standard microeconomic andmacroeconomic analysis. The course is designed to be suitable forstudents with or without A-level Economics. Quantitative Methodsin Economics is a two year sequence which introduces students tomathematical, statistical and computing techniques. To accommodatestudents of differing backgrounds (about half of our students haveA-level Mathematics, for example), we apply a broad variety ofteaching methods. In addition to standard lectures and classes,special workshops and tutorials are available to students. EconomicsWorkshop is a unique first year course that provides a first opportunityto consider the philosophical and historical background to economics.Too often, students can view economics as a purely technical subject.This course, taught by lectures and tutorials, gives students a chanceto reflect upon and discuss the ideological and historical dimension ofeconomic thought and practice. Economic policy is the focus of thefirst year optional courses. The Economics of European Integration andInternational Economic Policy are two such options. Students may alsochoose an option from another department in the College.Second and Third Year coursesIn the second year, students take the economic analysis coursesMicroeconomics and Macroeconomics. They continue theirquantitative studies in Quantitative Methods II. Finally, students onthe Financial and Business Economics degree are required to take thecourses in Financial Markets and Institutions and in Industrial Growthand Competition. Students on the Economics degree may take theseoptions, or select from an expanding list of economic history andpolitical economy choices.Final Year coursesEconomics single honours degree students choose four third yearcourses from a list of options. One option is EC3400 (Extendedessay in Economics) where students undertake independent researchto produce a dissertation which applies economic theory andquantitative analysis to a particular policy or business problem of theirchoice. Other options may include Public Economics, DevelopmentEconomics, Labour Economics, The Economics of Education, FinancialEconomics and Industrial Economics, although the availabilityof optional units varies from year to year. Financial and BusinessEconomics students are required to take the courses in FinancialEconomics and Industrial Economics.10

“All the lecturers are very approachable and always willing to listenand help should you need advice. The very supportive atmosphereof the Economics Department has really helped me develop myskills and knowledge, both academic and personal.”Hannah Carter, BSc Economics11

Joint degree optionsThe department offers five joint and one minor honours degree:JointThe Department offers three joint honours degrees:• BSc Economics and Management• BSc Economics and Mathematics• BSc Finance and Mathematics• BSc Economics, Politics and International RelationsMinor• BA Politics, Philosophy and EconomicsThe Economics and Management degree combines the coreprogramme of the Economics degrees with that of the Managementdegree. The two parts of the degree, while looking at similar subjects,use different methods to understand them. Economics uses primarilyquantitative and formal analysis, while Management emphasisesthe case study approach. Economics is the ‘home department’ forEconomics & Management joint honours students. This means thatwe will deal with issues of registration and student welfare, and youshould approach us with any questions or problems.The Economics and Mathematics degree plus the Finance andMathematics degree combine the core programme of the Economicsdegrees with that of the Mathematics degree. These degrees providean excellent background for a career in business or finance, sincethey develop the quantitative skills that are in the greatest demand.Economics is the ‘home department’ for these joint degrees, whichmeans that we will deal with issues of registration and student welfareand you should approach us with any questions or problems.The Economics, Politics and International Relations degree combinesthe core programme of the Economics degree with foundationand option courses offered by Politics and International Relations.These disciplines have many natural affinities between them, andtheir synergies lend themselves well to students who are interestedultimately in pursuing careers in various policy fields as well as in theareas of politics/international relations and economics generally, inboth the public and private sectors.The Politics, Philosophy and Economics degree will provide studentswith the opportunity to study three disciplines that are crucial for anunderstanding of the complex dynamics of today’s world. Studentsstudy a common foundation in the first year, and an advanced seminarand dissertation unit in their final year that develops links across thethree disciplines – a distinctive feature of the course. Students havegreat flexibility to vary their degrees in the second and third yearsin such a way as to graduate with one of three awards: BSc Politics,Philosophy and Economics; BA Politics, Philosophy and Economics; andBA Politics and Philosophy with Economics.12

Teaching and assessmentOur degrees are made up of 12 units. In each year a student takeshalf and full unit courses amounting to four units. Most coursesin the Department involve one or two hours of weekly lectures and aweekly tutorial or seminar group. In addition, there may be workshopsand classes. We adjust the teaching methods to the needs of theparticular course and in light of the differing backgrounds of students.For example, the Economics Workshop includes tutorials. Classes forMicroeconomics and Macroeconomics in the second year are larger,although additional help sessions and tutorials are provided. For thequantitative methods courses, teaching varies from classes of about20, meeting in the computer laboratory, to individual tutorial sessions.Assessment is primarily by end of year exams. Students are requiredto submit written work for each course, but in most courses thisis to help them in their studying and revision, and to provide anopportunity for advice and comments, rather than to be part of theassessment process itself. In the quantitative methods courses,continuous assessment in the form of in-class tests and a projectprovides a large component of the overall mark. For the EconomicsWorkshop, assessment is by two extended essays. The Departmentbelieves very strongly in a traditional university education and that theexamination process, where students simultaneously revise theirsubjects during a concentrated examination period, serves afundamental purpose in this. During the period of revision,students can integrate the different courses they have studied overthe year and this brings together their knowledge and understandingof Economics.13

Your future careerStep London Graduate Internship programmeThis programme is run by The Careers Group and offer paidinternships to graduates at:www.careers.lon.ac.ukEmployabilityUndergraduate careers supportThe Careers Service is conveniently situated within the same buildingas the Economics department and is affiliated with The Careers Group,University of London. At 100 years old is one of the largest and mostestablished higher education careers organisations in Europe.Undergraduate Careers Advisers offer plenty of hands-onsupport,along with one-to-one coaching sessions, designed to assistyou with your career strategy. In addition to which Careers Advisorsfocus on areas such as entrepreneurship and provide a specialistservice for international students. It is strongly advised that youprepare for a job as early as possible by fully utilising the CareersCentre facilities and attending activities and events to network andgain information. Our workshops will help you with:• Using social media for job hunting• Finding internships and work experience• CV’s, Applications, Interviews• Assessment centres• Making the most of the recruitment fair• What to do if you don’t know what to do!Maximising your job opportunitiesEmployers also look for such skills such as teamwork, problemsolvingand decision-making. The best job applicants got involvedwith activities such as student societies, sports teams, volunteeringand part-time work. Some student societies work with the CareersService for assistance with guest speakers and vocational information.These include the Economics Society, Entrepreneurs, the Law Societyand the Management and Investment society. Your involvementwith co-curricular activities can lead to you being awarded theRoyal Holloway Passport, a recent initiative that helps you market yourskills to employers.Egham is part of a business hub that has built up around Heathrowand the M25 which provides opportunities to work in the area forlocal, national and multi-national companies. There are businessessituated close to the college that include accountants, managementconsultants, law firms, IT and utilities companies and numerousrestaurants and shops. Our affiliation with the Careers Group, providesaccess to employers and careers events in London as well as locally.Careers activities and employer events• PWC, psychometric assessment skills session• Proctor & Gamble – R&D presentation• Deloitte, making successful applications, skills session• Ernst & Young, CV clinic• College of Law, is Law the careers for me?• RAF interviews• Centrica, succeeding at interviews skills session• CV workshop, Job applications workshop• Transferable skills from volunteering workshop• Centrica summer internships presentationwww.rhul.ac.uk/careers/eventsServices for students who wish to:• Start a business, social enterprise or charity• Become more enterprising and entrepreneurial• Enhance employability with enterprise skillswww.rhul.ac.uk/rhentrepreneursStart-up Wednesdays – workshops and skillsdevelopment• Student Societies – gain experience through involvement in societies• Enterprise Lab – one-to-one business guidance/ incubation services• Competitions – raise funds for your business/social enterprise• Enterprise Training – boot camps/department workshops/one-off events14

“My degree was in economic and public administration. I wouldn’t claim to have been the mostconscientious or brilliant of students, but the grounding I was given has been the foundation ofmy understanding of much of the current political debate on the state of the economy. I do enjoyoccasionally interviewing some of my former tutors. My time to ask them the difficult questions.”Robbie Gibb Alumnus, Editor BBCAfter graduating you will become part of the Royal Holloway Alumni.We are in contact with 65,000 previous students both in the UK andabroad, enabling graduates to network with each other worldwide.To help you keep in touch we will send you information throughHigher, our twice yearly magazine and our regular Alumni UpdateeNewsletter. Many alumni give their support because their time hereleft a positive impression on them, which they are proud of. They arevery active and often become ambassadors of the university, helpingwith events, graduate recruitment, career talks, mentoring, networkingand offering job opportunities. Some of our recent alumni eventshave included:• Alumni Lecture Series – ‘The Apprentice’ finalist, Debra Barr• Start It! Royal Holloway Entrepreneurs events – Business clinics,Bright Ideas Masterclass & Start-up Planning and events featuringspeakers from ‘Dragons Den’www.royalhollowayentrepreneurs.com/• Alumni in the city – networking and socialising• Hancock Cup Alumni Sports Day – basketball, netball, football,rugby, hockey, mixed lacrosse, golf, American football• International weekend reunionsFor further information about Royal Holloway alumni events pleasevisit: www.rhul.ac.uk/For-Alumni/news_and_events.htmlThrough the alumni programme you can gain many benefits, some ofwhich include:• Royal Holloway Sports Centre membership• Free access to the libraries• Alumni bursaries for postgraduate study• Ongoing careers support through our Careers ServiceGraduate ProfileAlumnus: James LambertSubject: EconomicsGraduated: 2003 (BSc), 2004 (MSc)Place of Work: AshurstPosition: EconomistIt was a very friendly university wherestudents of all backgrounds anddepartments mixed easily. Whilst theCollege had grown significantly, it was stillsufficiently small to create an atmospherein which one felt that one knew a goodproportion of both staff and students.This is a big differentiating factor fromother universities.Graduate ProfileAlumna: Ying ZhouSubject: EconomicsGraduated: 2007Place of Work: NAFMIIPosition: Foreign AffairsSpending the summer of my secondyear as an accountant at Shell in Chinaenabled me to develop key soft skills.Communication, problem solving andindependent thinking, alongside theacademic skills that I gained throughmy degree.• Discounts on products and servicesWe always encourage our alumni to get involved inorganising such events to help bring the alumni community closertogether. For further information please visit the Royal HollowayAlumni website: www.rhul.ac.uk/alumni/15

Academic staffDan Anderberg, PhD (Lund)Public Economics, Labour Economics, Family EconomicsAnderberg, D. (2009). ‘Optimal Policy and the Risk-Properties of HumanCapital Reconsidered’. Journal of Public Economics 93, 1017–1026.Anderberg, D. (2007) ‘Investments in Education as Self-Enforcing Exchangeamong Generations’. European Economic Review 51, 1813–1827.Jesper Bagger, PhD (University of Aarhus)Labour Economics, Applied Econometrics, MacroeconomicsWage Sorting Trends with Kenneth Sørensen and Rune Vejlin Thisversion: July 2012 Tenure, Experience, Human Capital and Wages:A Tractable Equilibrium Search Model of Wage Dynamics with FrancoisFontaine, Fabien Postel-Vinay and Jean-Marc Robin This version:August, 2011 Earlier versions circulated since 2006 under the title“A Feasible Equilibrium Search Model of Individual Wage Dynamicswith Experience Accumulation” Revision requestedJob Durations and the Job Search Model: A Two-Country, Multi-Sample Analysis with Morten Henningsen This version: February, 2011An Equilibrium Model of Wage Dispersion and SortingArnaud Chevalier, PhD (Birmingham)Labour Economics, Education Economics, Family EconomicsStudents’ academic self-perceptionChevalier, A., Gibbons, S., Thorpe, A., Snell, M. & Hoskins, S. Dec-2009 In: Economics of Education Review. 28, 6, p. 716–727.Overeducation and the skills of UK graduatesChevalier, A. & Lindley, J. 2009 In: Journal of the Royal StatisticalSociety: Series A (Statistics in Society). 172, p. 307–337.Jefferson Frank, PhD (Yale)Macroeconomics, Labour EconomicsFrank, J. (2006). ‘Gay Glass Ceilings’. Economica 73, 485–508.Frank, J. (1990). ‘Monopolistic Competition, Risk Aversion, andEquilibrium Recessions’. The Quarterly Journal of Economics 105, 921–38.Sotiris Georganas, PhD (Bonn)Game Theory, Experimental EconomicsGeorganas, S., and R. Nagel. ‘Auctions with Toeholds: AnExperimental Study of Company Takeovers’. International Journal ofIndustrial Organization, forthcoming.Georganas, S., and J. Kagel. ‘Asymmetric Auctions with Resale:An Experimental Study’. Journal of Economic Theory, forthcoming.Maris Goldmanis, PhD (Chicago)Microeconomic Theory, Industrial OrganisationGoldmanis, M., A. Hortaçsu, C. Syverson and O. Emre (2010).‘E-commerce and the Market Structure of Retail Industries’.The Economic Journal 120, 651–682.Goldmanis, M. (2010). ‘A Model of Crude Oil Production:The Roles of Physics, Exploration, and Site Development’. Ph.D.dissertation, The University of Chicago. ProQuest publication#3408527. Available online at:http://gradworks.umi.com/34/08/3408527.html.Melanie Luhrmann, PhD (Mannheim)Applied Microeconomics, Microeconometrics, Public EconomicsDe Santis, R. and M. Lührmann (2009). ‘On the Determinants ofNet International Portfolio Flows – A Global Perspective’. Journal ofInternational Money and Finance 28, 880–901.Lührmann, M. (2010). ‘Consumer Expenditures and Home Productionat Retirement – New Evidence from Germany’. German EconomicReview 11, 225–245.Michael Mandler, PhD (Yale)Microeconomic Theory, Mathematical EconomicsMandler, M. (2007). ‘Strategies as States’. Journal of Economic Theory135, 105–130.Mandler, M. (2006). ‘Cardinality Versus Ordinality: A SuggestedCompromise’. American Economic Review 96, 1114–1136.Andrew Mountford, PhD (Brown)Macroeconomics, GrowthMountford, A. and H. Uhlig (2009). ‘What Are the Effects of FiscalPolicy Shocks?’ Journal of Applied Econometrics 24, 960–92.Galor, O. and A. Mountford (2008). ‘Trading Productivity forPopulation’. Review of Economic Studies 75, 1143–1179.Michael Naef, PhD (Zurich)Experimental Economics, Behavioural Economics,NeuroeconomicsEisenegger, C., M. Naef, R. Snozzi, M. Heinrichs and E. Fehr (2010).‘Prejudice and Truth: The Effect of Testosterone Administration onBargaining Behaviour’. Nature 463, 356–359.Fehr, E., M. Naef and K. M. Schmidt (2006). ‘Inequality Aversion,Efficiency, and Maximin Preferences in Simple DistributionExperiments: Comment’. American Economic Review 96, 1912–1917.Juan Pablo Rud, PhD (LSE)Development Economics, Applied EconometricsAragon, F. M. and J. P. Rud (2010). ‘The Blessing of Natural Resources:Evidence from a Peruvian Gold Mine’. RHUL Discussion Paper 10/3.Rud, J. P. (2010). ‘Electricity Provision and Industrial Development:Evidence from India’. RHUL Discussion Paper 10/4.17

Academic staffAndrew Seltzer, PhD (Illinois)Economic History, Labour EconomicsHuck, S., A. Seltzer and B. Wallace. ‘Deferred Compensation in Multi-Period Labor Contracts: An Experimental Test of Lazear’s Model’.American Economic Review, forthcoming.Seltzer, A. (2010). ‘Did Firms Cut Nominal Wages in a DeflationaryEnvironment?: Micro-Level Evidence from the Late 19th and early20th Century Banking Industry’. Explorations in Economic History 47,112–125.Hui-Fai Shing, PhD (Royal Holloway)Economics of Gambling, Financial EconomicsKoch, A. and H.-F. Shing (2008). ‘Bookmaker and Pari-mutuel Betting:Is a (Reverse) Favourite-longshot Bias Built-in?’ Journal of PredictionMarkets 2, 29–50.Michael Spagat, PhD (Harvard)Comparative Economics, Political Economy, GrowthBohorquez, J. C., S. Gourley, A. R. Dixon, M. Spagat and N. F. Johnson(2009). ‘Common Ecology Quantifies Human Insurgency’. Nature 462,911–914.Hicks, M. H.-R., H. Dardagan, G. G. Serdan, P. M. Bagnall, J. A.Sloboda and M. Spagat (2009). ‘The Weapons that Kill Civilians’.New England Journal of Medicine 360, 1585–1588.Cecilia Testa, PhD (LSE)Political EconomyTesta, C. (2010). ‘Bicameralism and Corruption’. European EconomicReview 54, 181–198.Facchini, G. and C. Testa (2009). ‘Who is Against a Common Market?’Journal of the European Economic Association 7, 1068–1100.Ija Trapeznikova, PhD (Northwestern)Labour Economics, Economics of EducationHazans, M., O. Rastrigina and I. Trapeznikova (2008).‘Family Background and Schooling Outcomes Before and During theTransition: Evidence from the Baltic Countries’. Journal of PopulationEconomics 21, 719–749.Trapeznikova, I. (2010). ‘Employment Adjustment and LaborUtilization’. RHUL Discussion Paper 10/7.Jonathan Wadsworth, PhD (LSE)Labour Economics, EconometricsGregg, P. and J. Wadsworth, eds. (2010). The Labour Market in Winter:The State of Working Britain. Oxford University Press.Gregg, P., R. Scutella and J. Wadsworth (2010). ‘Reconciling WorklessMeasures at the Individual and Household Level. Theory and Evidencefrom the United States, Britain, Germany, Spain and Australia’. Journalof Population Economics 23, 139–167.The terms and conditions on which Royal Holloway, University of London makesoffers of admission to its programmes of study, including those covered in thisbooklet, may be found in the Undergraduate Prospectus or Postgraduate Prospectus,copies of which are available on request from:www.rhul.ac.uk/studyhereThe information contained in this brochure is correct at the time of publicationbut is subject to change as part of the Department’s policy of continuousimprovement and development.18

Royal Holloway, University of LondonEgham, Surrey, TW20 0EXT: 01784 434455www.rhul.ac.uk100%6525 08/12