The “Advanced Applied Economics” program benefits from the support of faculty members from the economic departments of both University of Caen Normandy and University of Rouen Normandy, two research centers, the Center for Research in Economics and Management (CREM, UMR CNRS 6211) and Laboratory for Economic studies Rouen Normandie (LERN, UR 4702), and the Normandy PhD program in Economics and Management (EGN, ED 242).
“Advanced Applied Economics” is an innovative and original project, where research and teaching are carefully combined to train a new generation of scientists with the aim of dealing with all the challenges of a world in crisis, capable of putting their knowledge of economics to work for citizens and policy makers.
Our professors have published in a large variety of international journal for some among the top field. In particular, the University of Caen Normandy maintains a strong tradition of fundamental research in economics as proof the well-known international scientific review Social Choice and Welfare which was founded some forty years ago by Professor Maurice Salles former member of our faculty. The Society for Social Choice and Welfare is still located in this University.
The first year (M1)
It is structured in two transversal teaching units, each containing 3 courses in Economic Modeling on the one hand and in Econometrics and Data Processing on the other hand. These courses are transversal because they are based on specific techniques that apply to all fields of economics.
From the second semester onwards, the teaching progressively comes to focus on thematic areas (Firms and Market; Trade Policies; Information and Contracts; Public economics; Social choice; Economic policy): starting from some problems, we make use of the suitable techniques to deal with those problems.
The second year (M2)
All courses are thematic:
- Advanced International Trade
- Agricultural/Natural Resources Economics with Social Choice
- Corporate Finance and Product market competition
- Experimental Social Choice
- Macroeconomic modeling for Fiscal, Monetary and Prudential
- Mechanism Design
- Topics in Energy Economics
- Topics in Applied MicroEconometrics
- Topics in Health and Environment
- Topics in Intertemporal Choice: A life Cycle Perspective • Topics in Trade and Environment
- Topics in Intertemporal Macroéconomics
Supervised projects included in the curriculum: M1 (essay in bibliography; project in economic modeling; project in econometrics) M2 (Research Master Thesis) + research internship.
Skills to be acquired at the end of the master’s degree advanced applied economics
Problematize an economic issue and contextualize it socially, historically and within academic literature
- Apply economic analysis to evaluate everyday problems
- Apply economic analysis to evaluate specific policy proposals
- Compare two or more arguments that have different conclusions to a specific issue or problem
- Understand the underlying interests of various stakeholders involved in a specific problem
- Review the state of the art of the economic literature on a specific problem
Think in terms of models to reach a deeper understanding of an economic problem and evaluate potential solutions
- Have an advanced understanding of the main modelling tools used in economics, their strengths, and weaknesses
- Develop deeper critical and quantitative thinking skills and apply problem-solving skills to complex problems
- Understand the role of assumptions in arguments
- Be able to identify implicit assumptions in existing models and arguments
- Propose solutions for problems that do not have clear answers and indicate under what conditions they may be viable solutions.
- Have a practical knowledge of programming tools and language for model calibration
Collect, treat and analyze multi-dimensional economic datasets
- Obtain and/or collect relevant data using specific qualitative and/or quantitative research methods
- Possess a working knowledge of information databases
- Know how to locate and use primary data sources
- Understand how to use empirical evidence to evaluate an economic argument.
- Critically interpret statistical results
- Conduct appropriate statistical and econometric analysis of data, and explain the statistical problems involved
- Have a practical knowledge of programming tools and languages for econometric analysis
Communicate professionally on a research outcome in front of various audiences
- Communicate effectively in written, spoken, and graphical form about specific economic issues
- Formulate a well-organized written argument that states assumptions and hypotheses, which are supported by evidence
- Present an economic argument orally
- Present and synthesize a research work in front of various audiences (academic, professional, general audience)
Behave professionally as an economist, individually and collectively, in various organizations and the whole society
- Be able to organize a research program in multiple ordered tasks for oneself
- Be able to work in a group and organize a research program in multiple ordered tasks for the group
- Have a global understanding of the organization of the profession, between academics and economists working in various non-academic organizations (firms, state agencies, international organizations, NGOs)
- Have a global understanding of the organization of the profession for discussing new ideas and research results (seminars, conferences, academic journals, etc.) and to diffuse them to a more general audience
- Behave ethically with regards to general principles of intellectual integrity, and transparency on tools, methods, and data used in specific research