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  • 1965

    University of Warwick created

    The University was created and divided into schools of studies. There were 6 schools in total: Social Studies, Historical Studies, Literature, Engineering and Physics, Molecular Sciences and Mathematics. At the time, the Social Studies school consisted just of Economics and Politics making us one of the founding subjects.


  • Department of Economics founded

    The Economics Department was founded by Dick Sargent who had decided to leave Oxford. He saw that Warwick provided the opportunity to establish the subject in a way whereby technical competence would be required in analytic tools and where statistics and mathematics would have a major role.


  • 73 students registered for degrees in economics, economics and politics or economics and sociology. 18 student from the school of mathematics attended courses in economics. There were 3 PG students studying.


  • 1966

    Economics mission in the Eastern Caribbean

    Professor Sargent was given leave of absence in the Spring term to lead a mission of British, American and Canadian economists reporting on economics development in the Eastern Caribbean.


  • Birmingham Labour Market Enquiry grant

    Assistant lecturer J. Brack was awarded a grant of £2300 from the Ministry of Labour for the Birmingham Labour Market Enquiry.


  • 129 students were registered for degrees in economics, economics and politics or economics and sociology in their first or second years. There were also 7 full time and 3 part time PG students.


  • 9 teaching staff in the department.


  • 1967

    Minister of Technology

    Professor Sargent was appointed part time economic adviser to the Minister of Technology and a member of the economics committee of the social science research council. He was also awarded £3102 from the SSRC to look at computer programming for econometric research.


  • Supply and demand grant awarded

    Professor Pyatt was awarded £4600 from the ITB to look at methods of forecasting supply and demand for manpower in the engineering industry.


  • 190 UG students registered for degrees in economics, economics and politics, economics and sociology, economics and engineering or mathematics and economics. There were 10 full time and 5 part time PG students.


  • 63 students graduated, with 7 achieving 1st class honours.


  • 14 teaching staff in the department.


  • 1968

    Centre of Industrial and Business Studies established

    Professor Pyatt appointed joint director of the newly established Centre of Industrial and Business Studies.


  • Collection of economic statistics

    Professor Pyatt received a grant of £9000 from the Nuffield Foundation to catalogue and set up statistical material donated by the British museum, the board of trade and others as the foundation for a collection of economic statistics. He was also awarded £4200 from the SSRC to look at programmes for use in econometric research.


  • 175 UG students registered for degrees in economics, economics and politics, economics and sociology, economics and engineering or mathematics and economics. In June 65 of these graduated with 3 achieving first class honours. There were 11 full time and 7 part time PG students.


  • 16 teaching staff in the department.


  • 1969

    5th Professor appointed

    A grant from the Esmee Fairbairn Charitable Trust made it possible to appoint a fifth professor of economics.


  • Grants awarded

    • Professor Cowling received a grant of £22454 from the Board of Trade to study the economic effects of advertising.
    • Professor Sargent received £4284 from the SSRC to study the measurement of technical change parameters.

  • 169 UG students registered for degrees in economics, economics and politics, economics and sociology, economics and engineering or mathematics and economics. There were 24 graduate students with 15 reading for the MA and the remainder for research degrees.


  • 18 teaching staff in the department.


  • 1970

    New staff appointments and movements

    N. Ireland, D. Leech, R. Moreland and J. Round joined the Department. B. Sadler resigned to become university senior tutor and Professor Pyatt took over as chair of the Department from Professor Sargent, as Sargent became a PVC for the university.


  • 20 teaching staff in the department.


  • 1971

    Largest undergraduate teaching department

    The Department is now one of the largest undergraduate teaching departments in the University; 161 students were reading for single honours degrees and 64 were on joint honours courses.


  • 57 students graduated in June with 4 first class degrees awarded.


  • 23 teaching staff in the department.


  • 1972

    'Association of University Teachers of Economics' conference

    Played host to the annual conference of the association of university teachers of economics which was attended by 370 members.


  • IMF advisor

    Professor Williamson departed on two years leave of absence to act as an advisor to the IMF.


  • Grants awarded

    • Professor Pyatt received £10,000 from the imperial tobacco group to study models of consumer behaviour and demand, and $33,000 from the International Labour office to study information basis for planning with reference to employment and income inequalities
    • Professor Sargent received £5158 from the SSRC to study the estimation of technical change parameters.

  • 26 teaching staff in the department.


  • 1973

    Founder of the Department resigns

    Professor Sargent resigned to become Group Economic Advisor to the Midland Bank.


  • Grants awarded

    • £16,000 was awarded to Professor Pyatt by the ministry of Overseas Development to research in Swaziland on planning for employment and redistribution and he was also awarded a further £10,000 by the Imperial Tobacco Group to study the demand for tobacco products.
    • Dr Moreland received £306 from the SSRC for study into economic-demographic interactions in the development process. Mr Hazeldine was also awarded £370 for this same research.

  • 171 UG student on single honours and 52 on joint honours courses. 79 graduated in June and four were awarded first class honours degrees. There were 14 on the MA course and 10 pursuing research.


  • 1974

    New degree course

    The 1974/5 academic year saw the introduction of the new economics history degree course.


  • SSRC workshop

    The Department hosted the SSRC workshop.


  • Study on economic statistics in Sri Lanka

    Dr A. Roe was awarded £8467 from the SSRC for study on a framework for economic statistics in Sri Lanka with special reference to employment and income distribution.


  • 191 UG taking single honours degrees in the department and 52 on joint honours. 73 students graduated in June. There were 14 on the MA course and 14 undertaking research.


  • 1975

    Economics Theory group

    Prof A. Dixit received £1000 from the SSRC to organise an economics theory study group.


  • Grants awarded

    • J. Williamson received £18,600 from the Ford Foundation to study the financing procedures of foreign trade.
    • J. Round received £560 from the ministry of overseas development to look at the macroeconomic effects of the proposed thermal power project in the economy of Swaziland.

  • New Head of Department

    Keith Cowling took over from Alec Ford as Head of Department.


  • 30 members of academic staff in the department.


  • 1976

    Economic planning in development countries study.

    Mr A. Roe and J. Round received £15,000 from the economic and social committee for overseas development to study research of data systems and economic planning in development countries.


  • Grants awarded

    • K. Cowling and A. Dixit received £5000 from the Sloan Foundation and £2200 from SSRC to study summer research workshop on oligopoly theory.
    • G. Renshaw and K. Knight received £500 from the centre for industrial economics and business research to look into factors influencing UK productivity and performance.
    • J. Round received £10,050 from the SSRC to look at methods of projecting regional demands for labour under the Cambridge growth model.

  • 27 members of academic staff in the department.


  • 1978

    New Head of Department

    Avinash Dixit took over from Keith Cowling as Head of Department.


  • 1980

    Development Economics Research Centre created

    The Development Economics Research Centre was created at Warwick directed by Graham Pyatt and with support of national and international agencies. It received grants from the ESRC, Nuffield Foundation, the Overseas Development Foundation and the World Bank.

    Past research programmes include analyses of the fiscal systems of Pakistan, India and Mexico.


  • New Head of Department

    John Cable took over from Avinash Dixit


  • 1981

    University rankings in THE

    Warwick University ranked top for science subjects and 25th for arts subjects according to the Times Higher Education (THE) Supplement.


  • 1983

    New Head of Department

    Alan Roe took over from John Cable as Head of the Department.


  • 1986

    University ranked 5th in research rankings

    In the 1986/7 research rankings published by the Times, Warwick University ranked 5th behind Cambridge, Imperial, Oxford and UCL.


  • New Head of Department

    Ken Wallis took over from Alan Roe as Head of the Department.


  • 1989

    Students get choice between a BA or BSc degree

    Students entering the university before October 1989 who took degrees in economics, industrial economics or mathematics and economics were able to choose whether to be awarded a BA or BSc degree. After that date students taking these degrees were awarded a BSc.


  • 1991

    Queen’s Birthday Honours for Professor Skidelsky

    Professor Robert Skidelsky, who joined the University in 1978, was awarded a life peerage in the Queen’s Birthday Honours. At the time he was a Professor of Political Economy in the Department of Economics.


  • New Head of Department

    Nick Crafts took over from Ken Wallis as Head of the Department.


  • 1994

    New Head of Department

    Norman Ireland took over from Nick Crafts as Head of the Department.


  • 1995

    World Congress of the Econometrics Society in Tokyo

    Ken Wallis was tasked with moving all of the academic papers to the World Congress of the Econometrics Society in Tokyo. He was tasked with reading through 700 submissions to select the best 300 to be presented at the conference on the 22-29th August.


  • 1999

    New Head of Department

    Mike Waterson took over from Norman Ireland as Head of the Department.


  • 2002

    New Head of Department

    Michael Devereux took over from Mike Waterson as Head of the Department.


  • 2005

    New Head of Department

    Mark Harrison took over from Michael Devereux as Head of the Department.


  • 2008

    New Head of Department

    Abhinay Muthoo took over from Mark Harrison as Head of the Department.


  • 2009

    CAGE set up following ESRC bid award

    Economic and Social Research Council (ESRC) bid of £3.6 million awarded and CAGE (Centre for Competitive Advantage in the Global Economy) set up.


  • 2011

    Michael McMahon awarded for engaging teaching practices

    Michael McMahon was awarded a commendation in the Higher Education Academy Economics Network’s Student Nominated Award. The award was set up to honour inspiring and dedicated teaching staff and Michael was nominated for his engaging teaching practices and enthusiasm for the subject.


  • 2012

    Russian National Prize for Applied Economics

    Professor Mark Harrison was awarded the Russian National Prize for Applied Economics in recognition of his research that looked at the last remaining gap in the national income records of 20th century Russia.


  • Professor Muthoo supports The Knowledge Centre project

    The Knowledge Centre, a website that aims to promote research through engaging online content, was created at the University. Abhinay Muthoo gave an interview on the topic and why he is supporting the project and contributing to its content.


  • 2013

    First Economics Question Time held

    On Monday 30 September 2013 the first Economics Question Time event was held to an 800-strong audience in the Butterworth Hall at Warwick Arts Centre.

    Panellists for the event included Lord Gus O’Donnell, Professor Abhinay Muthoo, Jacqui Smith, Professor Nigel Thrift and Douglas Carswell.


  • 2014

    CBE for Professor Crafts

    June 2014

    Nicholas Crafts named a Commander of the Order of the British Empire (CBE) in the Queen's Birthday Honours List.


  • First ever Warwick Economics Summer School

    July-August 2014

    Our three week inaugural Summer School was attended by close to 100 students from 20 different countries, taking part in guest lectures, sports tournaments, day trips and evening social events alsongside their studies.



  • CAGE rebid successful

    August 2014

    The Economic and Social Research Council (ESRC) awarded CAGE (Centre for Competitive Advantage in the Global Economy £3.5 million to continue its research programme for another 5 year term.

    The refunding is evidence of the success of the centre and the importance of its work.


    The focal point of CAGE will continue to be understanding how countries succeed in the global economy. We will sustain and develop our research into long-run growth performance, the determinants of well-being and escape from poverty, institutional reform and the political economy of managing change in a globalising world.

    Professor Nicholas Crafts, Director of CAGE

  • High ranking in REF 2014

    December 2014

    The results of the highly anticipated 2014 Research Excellence Framework (REF) were announced on Thursday 18 December with Warwick Economics ranking 4th, affirming the high calibre of research in the Department.


  • Department success in University Guide 2016 league tables

    September 2015

    The Department was ranked third in the UK for all Economics Departments in The Times and Sunday Times University Guide 2016 league tables.


    I’m delighted that Warwick Economics has been ranked so highly and this is a reflection of our achievements across the full range of our activities.

    Professor Abhinay Muthoo, Head of Department

  • University of the Year 2015

    September 2015

    Warwick is declared University of the Year by the Times and Sunday Times newspapers, and rises two places to eighth in the UK in the two newspapers’ overall University league table.