MPhil Economic Policy Modelling

The MPhil Economic Policy Modelling is a two-year graduate programme of the School of Economics, run by the Department of Data Science and Economic Policy. It trains economists to build and apply mathematical and econometric models to identified economic and public policy issues, and to recommend policy actions that promote economic growth and development and reduce poverty and inequality in Ghana.

The curriculum runs over two semesters. The first semester combines microeconomic analysis, quantitative methods for economic modellers, economic policy models, public policy modelling and applied microeconometrics with one elective. The second semester covers macroeconomic analysis, economic policy modelling, applied macroeconometrics, research methods for economic modellers and computational economics, together with the compulsory Academic Writing course and one further elective. The electives allow students to specialise in health, agricultural, environmental, international trade, monetary or fiscal policy modelling.

Delivery blends lectures with competence-based training and problem-based learning. For most courses students work on case studies that require them to demonstrate the knowledge and skills acquired, through a mixture of individual and group assignments, and the teaching approach is student-centred and built around group work on open-ended problems. Most courses involve hands-on application of recommended computing and modelling software - the choice of packages has been broadened to include R and Python - using existing quantitative data, and students are also taught techniques for quantifying qualitative data.

The second year is a research year. Students write a thesis on a topic targeted at solving a specific practical challenge that can be addressed with a modelling technique, and propose specific policy measures that would solve it. Students are expected to be actively involved in the Graduate Research Seminar Series and to present their research work.

The programme aims at building capacity in the application of mathematical and econometric models and techniques for analysing identified economic and public policy issues and recommending policy actions for the promotion of economic growth and development, and reduction of poverty and inequalities in Ghana.

Students who graduate with a graduate degree in Economic Policy Modelling are likely to work in:

1. Policy making organisations and institutions such as the National Development Planning Commission, the Ministry of Finance and Economic Planning, the Ministry of Local Government and Rural Development, the Ministry of Education, the Ministry of Trade and Industry and the Bank of Ghana. 2. International organisations such as the United Nations, the Economic Commission for Africa, the International Monetary Fund, the World Bank and the African Development Bank. 3. Financial institutions across the country and the world over. 4. Non-governmental organisations, public policy think tanks and economic research institutions.