Programme Curriculum for Master Programme in Economic Demography

1. Identification
Name of programme Scope of programme Level Programme code Decision details Amendment details Master Programme in Economic Demography 60/120 ECTS Master level EAEDE Board of the School of Economics and Management, 13 April, 2007 Board of the School of Economics and Management, 19 December, 2007, 10 April, 2008, 3 April, 2009, 11 June, 2009, 15 December, 2009, 16 June, 2011, 24 September, 2012

2. Programme description
Economic demography explores population characteristics and dynamics from an economic perspective. It investigates the interaction between demographic conditions and economic and social processes. Economic demography was brought into focus in the 1950s, when the UN found that world population totals grew by 2-3 percent per annum and not by 1 percent as earlier thought. Could the earth feed a population that doubled in 25 years time given that poverty was already widespread? While this question provoked a large interest both in the political and scientific communities it has recently vanished as population growth has abated and as many developing countries have been modernized. This is not to say that the development problems are solved everywhere, but that the issue of population growth is no longer as central as before. Today, the big population topic has shifted to population ageing while the issue of population decline is just about to enter into the agenda. Population ageing implies an increase in the mean age of the population. It not only means an increase in the share of elderly but also an ageing of the labour force. So far it is more a result of declining fertility than improvements in survival to older ages. It first appears as smaller birth cohorts, then as a decline in labour supply relative to population size. Swings in fertility, such as the "baby-booms" during the 1940s, 1960s and 1980s, create waves in population size and age structure which have a strong impact on the economy. They have a significant influence on education, job opportunities and wages, housing, etc., thus on both the private and public sector. Population change, at the same time, is influenced both by economic and social factors. Hence, it is of fundamental importance not limit our studies to the consequences of population change and composition on economic factors and welfare systems, but also to include analyses of the causes of population change.

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Demographic changes are of great importance for forecasting of developments in the private and public sectors since population shifts lead to changes in both consumer demand and labour supply. The question of whether future labour supply in the Western World will be solved through migration or technical development (robotization) or whether jobs will migrate is open for debate, as are methods of influencing labour force participation rates. While an increase in fertility, brought about through changes that will improve possibilities of combining work and parenthood will reduce labour supply instantly, it would lead to a labour supply gains in the long run. Meanwhile, improvements in labour supply depend entirely on the extent to which various group in active ages participate in the labour force or not. Economic and social changes related to population ageing are global issues, since population ageing, due to their faster fertility decline, is an even more rapid phenomenon in recently developed countries than in the Western World. The issue of population ageing - not only the increasing share of elderly but also the increase in the mean age of the labour supply - will therefore be an issue of global focus for the majority of the 21st century. The need for demographic analyses as well as analyses of causes and consequences of population change is obvious both within the private and public sector, resulting in an increasing demand for population forecasts. The School of Economics and Management at Lund University provides unique competence in this area since many of its participating departments have been involved in research and teaching of economic demography and related issues for several decades. It is internationally known for its demographic research encompassing both developed and developing countries, and is actively involved in two European research schools in demography. Career opportunities Demand exists for demographic studies at all levels of government, as well as in the private sector. Marketing, insurance, and municipal planning are three areas where demographic skills are in increasing demand. In addition, the broad social science approach of the programme also trains the students for employment not directly related to economic demography. Given the wide scope of the master programme and its interdisciplinary nature, our students can expect employment opportunities not only in the areas specified above but within a multitude of areas. Connection to further studies Students who successfully complete the programme are eligible for applying to the post-graduate programme in economic history, economics and statistics, provided that department-specific requirements are fulfilled.

3. Learning outcomes
The Master Programme in Economic Demography aims to train both aspiring professionals and future doctoral candidates in the theories, methods, and skills required to understand demographic dynamics in a historical, cultural, and institutional context. The programme focuses on the processes underlying population change and on the context in which these processes originate and evolve. The programme builds on knowledge and skills acquired during the students undergraduate education. In accordance with the Higher Education Ordinance, a Master of Science (120 credits) is awarded to students who at the completion of the programme accomplish the following: Knowledge and understanding - demonstrate knowledge and understanding in the field of Economic Demography, including both broad knowledge in the field and substantially deeper knowledge of certain parts of the field, together with deeper insight into current research and development work; and

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- demonstrate deeper methodological knowledge in the field of Economic Demography. Skills and abilities - demonstrate an ability to critically and systematically integrate knowledge and to analyse, assess and deal with complex phenomena, issues and situations, even when limited information is available; - demonstrate an ability to critically, independently and creatively identify and formulate issues and to plan and, using appropriate methods, carry out advanced tasks within specified time limits, so as to contribute to the development of knowledge and to evaluate this work; - demonstrate an ability to clearly present and discuss their conclusions and the knowledge and arguments behind them, in dialogue with different groups, orally and in writing, in national and international contexts; and - demonstrate the skill required to participate in research and development work or to work independently in other advanced contexts. - demonstrate an ability to work individually as well as in groups with students from different cultures in order to solve practical problems as well as to manage a more extensive project. - demonstrate an ability to evaluate, and critically analyse theoretical and empirical literature within the context of economic demography. -be able to independently apply relevant theoretical and empirical models on demographic issues within her/his own discipline-specific framework. Judgement and approach - demonstrate an ability to make assessments in the field of Economic Demography, taking into account relevant scientific, social and ethical aspects, and demonstrate an awareness of ethical aspects of research and development work; - demonstrate insight into the potential and limitations of science, its role in society and peoples responsibility for how it is used; and - demonstrate an ability to identify their need of further knowledge and to take responsibility for developing their knowledge. Independent project (degree project) For a Master of Science (120 credits) degree students must have completed an independent project (degree project) worth at least 30 higher education credits in the field of Economic Demography, within the framework of the course requirements. The independent project may comprise less than 30 higher education credits, but not less than 15 higher education credits, if the student has already completed an independent project at the second level worth at least 15 higher education credits in their main field of study. Students have the possibility to leave the programme after one year and in accordance with the Higher Education Ordinance obtain a Master of Science (60 credits). The degree is awarded to students who at the completion of the programme accomplish the following: Knowledge and understanding - demonstrate knowledge and understanding within the field of Economic Demography, including both a broad command of the field and deeper knowledge of certain parts of the field, together with insight into current research and development work; and demonstrate deeper methodological knowledge in the field of Economic Demography Skills and abilities - demonstrate an ability to integrate knowledge and to analyse, assess and deal with complex phenomena, issues and situations, even when limited information is available; - demonstrate an ability to independently identify and formulate issues and to plan and, using appropriate methods, carry out advanced tasks within specified time limits; - demonstrate an ability to clearly present and discuss their conclusions and the knowledge and

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arguments behind them, in dialogue with different groups, orally and in writing; and - demonstrate the skill required to participate in research and development work or to work in other advanced contexts. - demonstrate an ability to work individually as well as in groups with students from different cultures in order to solve practical problems as well as to manage a more extensive project. - demonstrate an ability to evaluate theoretical and empirical literature within the context of economic demography. - be able to apply relevant theoretical and empirical models on demographic issues within her/his own discipline-specific framework. Judgement and approach - demonstrate an ability to make assessments in the field of Economic Demography, taking into account relevant scientific, social and ethical aspects, and demonstrate an awareness of ethical aspects of research and development work; - demonstrate insight into the potential and limitations of science, its role in society and peoples responsibility for how it is used; and - demonstrate an ability to identify their need of further knowledge and to take responsibility for developing their knowledge. Independent project (degree project) For a Master of Science (60 credits) students must have completed an independent project (degree project) worth at least 15 higher education credits in Economic Demography, within the framework of the course requirements.

4. Course information
The programme is a joint undertaking between the departments of Economics, Economic History and Statistics at the School of Economics and Management, with all coursework being placed at the School. The programme is divided into three component parts - a part of compulsory programspecific courses in economic demography, an optional part of department-specific courses related to economic demography, and, during the second year, an optional part making it possible for field work and data gathering, for studies within our exchange programs abroad or for further courses within this or other master programmes in Lund. The department-specific courses provide the methodological skills necessary for demographers within a discipline-specific framework. The full master programme comprises two years of full-time study, but there will be a provision to leave after one year with a Master of Science (60 credits). The course structure of the programme is described below, where the first year gives broad knowledge of the socioeconomic aspects of demography and the tools needed to understand and study these processes, while the second year provides more detailed knowledge necessary for a career as a demographer. Within the programme student are able to specialize on economics, economic history, or statistics. After completing the master programme, it is possible to apply for the PhD programmes in the three disciplines depending on specialization. The first term of each year is divided into four courses of 7.5 ECTS each, while the second term consists of two courses of 7.5 ECTS and one thesis comprising 15 ECTS. The courses in the first term of each year run parallel with each other, with two courses during the first half of the term, and two during the second half. During the second term of each year the courses will run parallel during the first half, while the second half of the term is devoted to thesis work.

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Programme schedule
Semester 1 (Autumn), year 1 Period 1 Sept-Oct Causes of Demographic Change Econometrics Period 2 Nov-Dec Semester 2 (Spring), year 1 Period 3 Jan-March Consequences of Demographic Change Optional Optional Degree project Period 4 April-May

Optional

Semester 1 (Autumn), year 2 Period 1 Sept-Oct Optional Optional Optional Optional Period 2 Nov-Dec

Semester 2 (Spring), year 2 Period 3 Jan-March Optional Degree project Optional Period 4 April-May

Programme-specific courses in Economic Demography (The list of department specific courses is provided below) Econometrics (7.5 ECTS) Year one, autumn semester, period 1 Three different courses are available, see under Economic History, Economics and Statistics in the left-hand menu Causes of Demographic Change (7.5 ECTS) Year One, autumn semester, period 1 This course combines an introduction to fundamental demographic concepts and methods with discussions of the socioeconomic causes of long-term demographic change. Consequences of Demographic Change (7.5 ECTS) Year One, spring semester, period 3 This course discusses both historical and contemporary consequences of demographic change. One example which is currently raising interest is the consequences of population ageing in terms of pension system viability, labour supply, and health care services. Advanced Topics in Economic Demography (7.5 ECTS) Year 2 Five different courses are offered: Health and Mortality, Population Aging, Marriage and Fertility, Immigration and Integration and Historical Demography. They are offered on a tutorial basis or in seminar form. They all discuss research related problems within their respective fields and involve students in the seminar discussions, based on readings from international research. It is mandatory to take two of these courses during the second year. Thesis work (15+15 ECTS) Department-specific courses (year 1 and/or year 2), 7.5 ECTS each The department-specific courses aim to complement the special economic demography courses so as to give the student the theoretical and methodological skills necessary within her/his choice of discipline-specific framework. While the courses are designed to be incorporated in this master programme, they are established within the existing framework of courses offered by the respective departments and are not exclusively for students in this programme.

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Economic History Econometrics The course consists of two parts. The first part consists of theory and methods relating to multivariate linear regression, limited dependent variable regression and basics of time series analysis. It also considers how to apply these methods, with examples of how such methods are used in economic demography and economic history. This part also introduces computer software (STATA or comparable) for quantitative analysis. In the second part of the course, students analyze a quantitative problem using actual data from economic demography or economic history, and report results in individual papers.

Population and Living Standards This course deals with the interplay between population and living standards in a long term perspective. It focuses on three broader themes. In the first, different models of the preindustrial economic demographic system are studied, and the legacy of these models (e.g. Malthusianism) and their relevance today is assessed. Different demographic indicators of living standards, such as life expectancy, infant mortality and demographic responses to economic fluctuations, are discussed and compared with other well-being indicators in an assessment of the long-term global development of standard of living. The second theme deals with the importance of population dynamics, especially fluctuations in fertility, and thus cohort size, on living standards in industrial society. The third theme focuses on the role of families and households in providing welfare and security of its members. Both the development over time and global comparisons are central in this theme. Institutions, Economic Growth and Equity This course studies the relations between institutions, modern economic growth, and equality. Problems in the world of today are taken as a point of departure for an historical analysis that covers countries and regions in different parts of the world. Four themes are focussed. One is about the emergence of institutions such as property rights and markets, and their role for economic growth. The second is about the importance of the distribution of resources for institutional development. The third is about the importance of the growth of knowledge and education for the creation of equality of opportunity. The fourth is about the emergence of the modern welfare state as well as current challenges to its future. The Global Economy and Long-term Economic Growth This course studies historical processes of growth, convergence and divergence in the global economy over the past two centuries. Two different approaches are applied. One takes the perspective of the international economic exchange and studies international trade, cross-border migration, and movements of capital and technology. The other considers theories of economic growth, about how production is generated by capital and labour and the level of technology. Research Design Since economic history is an applied since, data collection and source criticism is of vital importance. This course makes the students familiar with methods of data collection and data evaluation specific to economic and social history. Comparative Analysis of Economic Change This course introduces major themes in economic history and how these have been approached in research. Explorative methodologies versus hypothesis testing are discussed. It is studied how data are obtained, analysed and interpreted by researchers. Basic concepts of quantitative analysis are introduced and applied in exercises. Economic history is at the crossroads of several disciplines but it has its own typical methodology and analytical instruments. Approaches as different as those

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emphasising institutions or culture, equilibrium models, evolutionary and structural analysis are used, yet often with a long-term perspective and employing diverse quantitative methods. This course introduces major themes in economic history and how these have been approached in research. Explorative methodologies versus hypothesis testing are discussed. Furthermore it is studied how data are obtained, analysed and interpreted by researchers. Basic concepts of quantitative analysis are introduced, such as qualities of the data, sampling and statistical distributions, correlation, and regression. Students will learn about the use and limitations of different methods in two ways. One is through exercises performed with the help of computers. The other is through the deconstruction of works in economic history that have used quantitative techniques. Economics Econometrics This course provides the foundation that is needed to enable an empirical analysis of economic data. Modern econometric techniques are used, while at the same time emphasis is placed on basic econometric thought. The following elements are studied: analysis of the linear regression model, diagnostic testing, estimation of more complicated models using generalised least squares, maximum likelihood and instrumental variables, dynamic time series models and non-stationary variables, cross sectional models with discrete and truncated dependent variables. Applied Microeconometrics (7.5 ECTS)Year One, autumn semester, period 2 This course covers modern econometric tools and empirical strategies used by economists and demographers for the analysis of cross-sectional and panel micro-data. The course teaches the econometric theory behind these techniques but also requires reading of high-quality empirical articles and applications of the taught methods using real data sets. Topics covered in the course includes (1) the randomized experiment as a golden standard and the analysis of social experiments, (2) fixed-effects methods, such as difference-in-differences techniques applied to panel data, but also applied to other data structures such as family-level data, (2) instrumental variables estimation, (3) regression discontinuity design, (4) matching estimators, such as propensity scores and kernelmatching and (5) limited dependent variables.

Human Capital Theory and the Economics of the Family This course aims to provide the student with the theoretical and empirical knowledge and tools needed to undertake independent analytical work on issues where a human capital and/or a family decision-making approach are called for. The course will also acquaint the student with how to apply a gender and/or ethnic perspective to economic analyses. Advanced Health Economics The purpose of the course is to give an overview of the present status of Health Economics in a number of core areas. Health economics includes all areas where health related issues can be analysed with the tools of economics, from the individuals behaviour with respect to for example his own health to equity considerations in health policy. Topics in Labour Economics The course is devoted to theoretical and empirical research in Labour Economics with emphasis on labour supply and time allocation, on labour demand and employment, and on unemployment and labour market policy. Advanced Development Economics The course aims to enhance and deepen the understanding of current problems in low-income economies, and to apply modern economic theory to selected development problems, particularly those relating to poverty alleviation.

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Courses in Public Economics In these courses special topics within the area of public economics are studied. The courses vary between semesters (Public Finance, Economic Evaluation, Economics of the Public Sector, and Social Policy). The goal of the courses is to deepen the understanding of economic theory by applying it to selected areas in public economics as well as to get a good knowledge of the theory of public economics.

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Statistics Econometrics The theory of basic regression models is widened. Departures from basic assumptions in the basic model are considered with emphasis on multicollinearity, heteroscedasticity and autocorrelation. Model choice and misspecification error are treated and simultaneous equation models are considered in terms of identification and estimation. Sampling Techniques This course discusses methods for simple random, stratified and systematic samples for studies of finite populations. Practical and theoretical problems occurring when performing surveys such as random sampling and systematic sampling are considered. These include problems with non-response and missing data. Time Series Analysis Univariate time-series analysis based on probability models such as Box-Jenkins models and ARIMA-models are treated. Different types of forecasts and the possibility of evaluating forecasts are treated. An orientation of transfer function models is also treated. Research Design (7.5 ECTS) The research design course provides students with the skills necessary to formulate a study in such a way that it can adequately answer the questions posed. From a labour-market perspective this involves structuring studies commissioned by the potential employer, and the course will also provide training in formulating research questions / studies for those interested in an academic career. Forecasting (7.5 ECTS) Forecasting demographic changes is a skill which is in great demand. This course will provide students with the ability to produce high-quality forecasts.

5. Degree
Upon completion of the programme a Master of Science (120 credits) major Economic Demography (filosofie masterexamen, huvudomrde: ekonomisk demografi) will be awarded in compliance with the National Higher Education Ordinance (SFS 2006:1053). Students can also decide to finish after the first year with a Master of Science (60 credits) major in Economic Demography (filosofie magisterexamen, huvudomrde: ekonomisk demografi).

6. Admission requirements and selection criteria

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Selection criteria Selection will be based on academic merits from university studies and a Statement of Purpose in which applicants should state their reasons for applying to the programme.

7. Other information
Courses at the School of Economics and Management are graded according to the criterion-referenced principal grades A-F:
GRADE A Excellent POINTS 100-85 CHARACTERISTIC A distinguished result that is excellent with regard to the following aspects theoretical depth, practical relevance, analytical ability and independent thought. B C D E F Very good Good Satisfactory Sufficient Fail 84-75 74-65 64-55 55-50 49-0 A very good result with regard to the above mentioned aspects. The result is of a good standard with regard to the above mentioned aspects and lives up to expectations. The result is of a satisfactory standard with regard to the above mentioned aspects and lives up to expectations. The result satisfies the minimum requirements with regard to the above mentioned aspects, but not more. The result does not meet the minimum requirements with regard to the above mentioned aspects.

It is up to the teaching professor to decide whether the credits of a course should be converted into a total of 100 points for each course, or if the scale above should be used as percentage points of any chosen scale instead.

Disciplinary actions against plagiarism The University views plagiarism very seriously, and will take disciplinary actions against students for any kind of attempted malpractice in examinations and assessments. The penalty that may be imposed for this, and other unfair practice in examinations or assessments, includes suspension from the University.

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