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EC304: Making of Economic Policy

  • Robin Naylor

    Module Leader
  • Isleide Zissimos

    Module Lecturer
  • Jennifer Smith

    Module Lecturer
  • John Morris

    Module Lecturer
  • Jonathan Cave

    Module Lecturer
  • Mike Waterson

    Module Lecturer
  • Natalie Chen

    Module Lecturer
  • Thijs Van Rens

    Module Lecturer
30 CATS - Department of Economics
Spring Module
Autumn Module

Principal Aims

The module aims to explore the relationship between economics and politics as academic disciplines and real life phenomena through a study of economic policy making; to examine critically theoretical discussions of the relationships between states and markets and the development of economic policy in Britain, and internationally, in the post-war period to the present.

Principal Learning Outcomes

By the end of the module the student should be able to have an understanding of the differences and complementarities in economic and political modes of analysis; develop a critical understanding of debates about the impacts of policies and policies on economic performance; assess the impact of globalisation on the autonomy of national economic policy and acquire knowledge and analytical skills relevant to careers in government, the media, the financial services sector, business associations and industry


In no set order, topics have included: theories of the policy making process, theory and empirics of market failure; public choice theories; issues of international political economy and globalisation; bureaucracy and the “core” executive in Britain; the development of governments’ economic policies in recent decades, including the economics and politics of inflation, unemployment, and migration, the welfare state and economic performance, income distribution, corruption, public finance, and regional and global governance.


Core Module
LM1D (LLD2) - Year 3, LM1H - Year 4
Optional Module
V7ML - Year 3, V7MM - Year 4, V7MP - Year 3, V7MR - Year 3
Pre or Co-requisites
A Politics 200-coded Political Theory Module
May only be taken by LM1D/LLD2 and PPE students
Part-year Availability for Visiting Students
Not available on a part-year basis


Assessment Method
Coursework (30%) + 3 hour exam (70%)
Coursework Details
One assignment (2000-word policy case study) (30%)
Exam Timing

Exam Rubric

Time Allowed: 3 hours.

Answer THREE questions (100 marks each). At least ONE question must be chosen from politics, and at least ONE question must be chosen from economics. The THIRD question can be drawn EITHER from Economics or from Politics. All questions carry equal marks.

Answer questions from Economics in one booklet and questions from Politics in a separate booklet

Approved pocket calculators are allowed.

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists