Department of Economics, University of Oxford explained

Department of Economics
Head Label:Head of Department
Head:Johannes Abeler
City:Manor Road Building,
Manor Road,
Oxford,
United Kingdom
Academic Staff:50

The Department of Economics is an academic department of the University of Oxford within the Social Sciences Division. Relatively recently founded in 1999, the department is located in the Norman Foster-designed Manor Road Building.[1]

History of Economics in Oxford

Despite the department's relatively recent establishment, Oxford has a long history within Economics.

The 19th century saw an expansion of economics within Oxford, with political economy being offered as an option to Greats students, and the Drummond Chair in Political Economy being established in 1825 at All Souls College, first being held by Nassau William Senior. Other notable 19th century Oxford economists include Arnold Toynbee, Francis Ysidro Edgeworth.[2] [3]

The 20th century saw the first economics programme, a postgraduate Diploma in Economics, in 1904. Economics was later introduced as part of a degree programme as part of the “modern greats” course in 1920, later Philosophy, Politics and Economics. Economist L.L. Price argued that this emphasised Oxford's stance of treating economics “pretty.. but unimportant”.[2] [3] [4] 20th century Oxford economists include Sir Roy Harrod, Jacob Marschak,[5] Nicholas Stern,[6] Sir David Hendry,[7] Stephen Nickell,[8] David Soskice,[9] Tim Harford,[10] and Mark Carney.[11]

Nobel Prizes

Nine academics affiliated with Oxford have won the Nobel Memorial Prize in Economic Sciences:[12]

Courses

The department offers three undergraduate courses in economics, but notably no straight economics option:[22]

At graduate level, the department offers six courses:[23]

Research

In the 2014 Research Excellence Framework (REF2014), the Department received an overall grade-point average of 3.44 (out of 4) - the third highest of any department in Economics and Econometrics in the UK, behind UCL and the London School of Economics.[24]

Research groups and centres

The department currently houses nine research groups, and is involved with five different research centres:

Research groups:

Research centres:

Rankings

In the 2021 Complete University Guide, the programme is ranked second nationally, behind the University of Cambridge.[25]

The Tilburg University Economics Ranking is a worldwide ranking of Economics schools based on research contribution placing Oxford second in Europe, and 11th globally.[26] Similarly, the Academic Ranking of World Universities sees Oxford place third in Europe, and 15th globally.[27]

The 2020 Times Higher Education World University Rankings places Oxford first in the UK, and third globally.[28]

In the 2020 QS World University Rankings by subject, Oxford is ranked second in Europe, and ninth globally for Economics & Econometrics.[29]

Notable current faculty

Current faculty includes the Director of Policy Research at the World Bank, Chief Economists at the Department for International Development, and Members of the Monetary Policy Committee, among many other prominent roles.

See also

External links

Notes and References

  1. Web site: Designed by world class architect Sir Norman Foster – lit by Zumtobel Lighting the prestigious Manor Road Building, The University of Oxford. 22 November 2019. 26 July 2020. Archetech.
  2. Web site: About. 26 July 2020. Department of Economics, University of Oxford.
  3. Book: Young . Warren. Lee. Frederic S. . 19 February 1993 . Oxford Economics And Oxford Economists . Palgrave Macmillan UK. 978-0333513620.
  4. Book: Chester, Sir Norman . 1986 . Economics, Politics and Social Studies in Oxford, 1900–85 . Palgrave Macmillan UK. 978-1-349-08546-0.
  5. Web site: Jacob Marschak, A Key Developer Of Economics Theory, Dies at 79. The New York Times. George Goodman Jr.. 28 July 1977. 26 July 2020.
  6. Web site: Nicholas Stern: Chair. LSE Grantham Research Institute. 26 July 2020.
  7. Web site: Academic Profile: David Hendry. Nuffield College, Oxford. 26 July 2020.
  8. Web site: Stephen J. Nickell. IZA Institute of Labour Economics. 26 July 2020.
  9. Web site: Professor David Soskice. London School of Economics. 26 July 2020.
  10. Web site: Best-selling economist, Tim Harford (Brasenose College, 1992). University of Oxford: Oxford Alumni. 26 July 2020.
  11. Web site: Mark Carney: Bank governor's journey from wilderness to heart of the City. Heather Stewart. 13 June 2013. The Guardian. 26 July 2020.
  12. Web site: Award winners. University of Oxford. 26 July 2020.
  13. Web site: John R. Hicks: Biographical. Nobel Prize organisation. 26 July 2020.
  14. Web site: Remarkable Alumni. Balliol College, Oxford. 26 July 2020.
  15. Web site: James Meade (1907-1995). Christ’s College, Cambridge. Dr William Peterson. 26 July 2020.
  16. Web site: Lawrence R. Klein, Economic Theorist, Dies at 93. The New York Times. Glenn Rifkin. 21 October 2013. 26 July 2020.
  17. Book: Sichel, Werner . 1 January 1989 . The State of Economic Science: Views of Six Nobel Laureates . Kalamazoo, MI . Upjohn Press . 9780880995962.
  18. Web site: James Mirrlees, economist, 1936-2018. The Financial Times. John Kay. 31 August 2018. 26 July 2020.
  19. Web site: Amartya Sen: Facts. Nobel Prize organisation. 26 July 2020.
  20. Web site: A. Michael Spence. NYU Stern School of Business. 26 July 2020. 29 October 2021. https://web.archive.org/web/20211029000301/https://www.stern.nyu.edu/faculty/bio/a-michael-spence/. dead.
  21. Web site: Joseph E. Stiglitz. Center for Global Development. 26 July 2020.
  22. Web site: The Courses: Undergraduate. Oxford Department of Economics. 26 July 2020.
  23. Web site: The Courses: Graduate. Oxford Department of Economics. 26 July 2020.
  24. Web site: REF2014: Institutions ranked by subject. 17 December 2014. Times Higher Education.
  25. Web site: The Complete University Guide 2021. 26 July 2020. Mayfield University Consultants.
  26. Web site: Tilburg University Economics Ranking 2015-19. 26 July 2020. Tilberg University.
  27. Web site: ShanghaiRanking's Global Ranking of Academic Subjects 2020 - Economics. 26 July 2020. Shanghai Ranking. 1 July 2017. https://web.archive.org/web/20170701004154/http://www.shanghairanking.com/Shanghairanking-Subject-Rankings/economics.html. dead.
  28. Web site: World University Rankings 2020 - Economics & Econometrics. 26 July 2020. Times Higher Education.
  29. Web site: QS World University Rankings by Subject 2020. 26 July 2020. QS Quacquarelli Symonds Limited.

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