The Department of Economics
Oxford's department of Economics is one of Europe's leading research departments and its members include some of the world's most distinguished academic economists. Amongst the current faculty, 14 are Fellows of the British Academy, 4 are Foreign Honorary Members of the American Academy of Arts and Sciences, 13 are Fellows of the Econometric Society and 7 are Fellows of the European Economics Association. Six Nobel prize winners in Economics – Sir John Hicks, Lawrence Klein, Sir James Meade, Sir James Mirrlees, Amartya Sen and Joe Stiglitz – are former members of the department. In the most recent UK Research Assessment, Oxford Economics had more research output graded as world-leading in terms of its originality, rigour and significance than did any other economics department in the United Kingdom.
The Department is committed to excellence in teaching at the undergraduate and postgraduate level. The Department's MPhil and DPhil programmes are internationally recognized for the excellence of the training and scholarship provided. Our graduates have progressed to positions of leadership in academia, in public services and in the private sector. Examples include: Mark Carney, Governor of the Bank of England; Martin Feldstein, Professor of Economics at Harvard University and long-time President of the National Bureau of Economic Research; the Lord O'Donnell, formerly UK Cabinet Secretary and Head of the Home Civil Service; Dr Manmohan Singh, Prime Minister of India, the Lord Stern FBA, IG Patel Professor of Economics and Government at the LSE and advisor to the UK government on climate change.
Throughout its history, Economics at Oxford has sought to forge close links between academic research and policy-making. Members of the Department currently serve or have served as Director of Policy Research in the World Bank, chief economists at the Department for International Development, Director General of Fair Trading, members of the Monetary Policy Committee of the Bank of England and members of the Competition Commission. Other faculty have acted as advisors and consultants to institutions as diverse as Oftel, Select Committees of the United Kingdom Parliament, the Asian Development Bank, the International Labour Organisation, and various international and UN agencies. These external links help to inform and stimulate work at the frontier of economic research, and provide students with unparalleled insights into how first class research can inform and shape public policy.