The UCL Department of Economics is one of nine Departments and Institutes within the Faculty of Social and Historical Sciences at University College London. It is the oldest department of economics in England and is research-intensive, currently headed by Professor Antonio Guarino.[3]
In 1824, Jean-Baptiste Say expressed his enthusiasm for the creation of a Chair of Political Economy in London in a letter to Jeremy Bentham, reading: “Joseph Hume tells me that you are going to establish a Chair of Political Economy in London. Bravo! Teach where the true national interests lie, and those who set personal interests against them will not have it easy". Bentham was a significant influence on the creation of UCL, often described as its ‘spiritual father’, and Hume was a member of the college’s original council.[4]
The Chair of Political Economy at UCL was created in 1828 in memory of David Ricardo, establishing the first Department of Economics in England.[5] The first holder of the Chair was John Ramsay McCulloch.[5]William Stanley Jevons held a professorship of economics at UCL between 1876 and 1880.[5]
Researchedit
In the 2014 Research Excellence Framework (REF2014), the Department received an overall grade-point average of 3.78 (out of 4) - the highest of any department in Economics and Econometrics, or any field, in the UK.[6]
REF2014 also showed that 79% of all indicators of output were rated at the highest 4* level.[7]
Research centres and publicationsedit
The department is currently involved with numerous research centres and publications:
Centre for Research and Analysis of Migration (CReAM) — directed by Christian Dustmann and Ian Preston
Centre for Teaching and Learning in Economics (CTaLE) — directed by Parama Chaudhury, and cofounded by Parama Chaudhury, Cloda Jenkins, and Frank Witte
Microeconomic Insights — Editorial board including Orazio Attanasio and Richard Blundell
The Department has forged a close relationship with the nearby Institute of Fiscal Studies, with many Professors holding positions at both institutions, a high degree of research collaboration, and regular talks given by faculty members at each institution.
Director of the IFS, Paul Johnson, is currently serving as a visiting professor at the department.
Rankingsedit
In the 2021 Complete University Guide, the programme is ranked fourth nationally, reentering the top five where it had been consistently from 2008 to 2020.[8]
The Tilburg University Economics Ranking is a worldwide ranking of Economics schools based on research contribution placing UCL third in Europe, and 15th globally.[9]
Similarly, the Academic Ranking of World Universities sees UCL place fourth in Europe, and 16th globally.[10]
In the 2021 QS World University Rankings by subject, UCL is ranked fourth in Europe, and 16th globally for Economics & Econometrics.[12]
The Economist’s Societyedit
The Economist’s Society is the Official Departmental Student Society, run by an elected student committee for the undergraduate population of the Economics Department. All undergraduates of the Department are automatically members. The Society puts on numerous academic and social events throughout the academic year, including a Speaker Series, the UCL Economics Conference, the inter-university Economics Debate, and the flagship social event ‘The David Ricardo Ball’.
^"Albert Marcet". Institute for Economic Analysis (IAE), Spanish Council for Scientific Research. Retrieved 19 August 2020.
^"Dr Malcolm Pemberton". UCL IRIS. Retrieved 6 July 2020.
^"Imran Rasul". IZA Institute of Labor Economics. Retrieved 6 July 2020.
^"This Day in Jewish History 1994: British Economist and Alleged Traitor Dies in Beijing". Haaretz. 4 August 2016.
^Silberston, Aubrey (2006) [2004]. "Allen, George Cyril (1900-1982)". Oxford Dictionary of National Biography (online ed.). Oxford University Press. doi:10.1093/ref:odnb/54106. (Subscription or UK public library membership required.)
^"Baroness Altmann CBE". gov.uk. Retrieved 6 July 2020.
^"Contributors". Democracy & Nature: The International Journal of Inclusive Democracy. Retrieved 6 July 2020.
^"Orazio Attanasio: Cowles Professor of Economics". Yale University. Retrieved 19 August 2020.
^"John Ramsay McCulloch". IFS. Retrieved 6 July 2020.
^"Benjamin Moll". European Investment Bank. Retrieved 5 April 2021.
^Stephen Smith (22 September 2005). "Obituary: David Pearce". The Guardian. Retrieved 6 July 2020.
^"John H Pencavel". Stanford University. Retrieved 23 July 2020.
^"Paul Rosenstein-Rodan". International Institute of Social Studies. Retrieved 6 July 2020.
^"Barbara Sianesi". IZA Institute of Labor Economics. Retrieved 6 July 2020.
^Fisher, Bob (11 May 2013). "Andrew Simpson obituary: British sailor who won gold with Iain Percy at the Beijing Olympics". The Guardian. London. Retrieved 11 May 2013.
^"Faculty: John Van Reenen". MIT Sloan School of Management. Retrieved 6 July 2020.
^Dunn, Will (8 January 2020). "From the Treasury to the high street: can Sharon White save John Lewis?". New Statesman. Retrieved 26 June 2020.
^John Plunkett (18 May 2015). "John Whittingdale, the horror fan putting the frighteners on the BBC". The Guardian.