Module Catalogue 2026/27

Pre Requisite Comment

The modules is suitable for students who have come through the standard Year 2 economics pathway. Equivalent intermediate microeconomics or macroeconomics modules would be acceptable.

Co Requisite Comment

N/A

Aims

The module aims to explore the study of happiness within economics. The discipline of economics has always been intensely interested in human wellbeing, but traditionally investigated it indirectly. Starting from the 1970s, there has been the emergence of a field known as happiness economics, which attempts to directly measure happiness – mostly through self-reported ‘subjective wellbeing’ – and identify the (economic) factors which influence it or are influenced by it. The module covers important findings and debates from this field.

The module has both a scientific and philosophical flavour. Measuring happiness is challenging and even its definition is subject to debate. We will scrutinise debates surrounding these issues, focusing closely on hard evidence about whether happiness can really be measured, and considering the circumstances under which such measurements are likely to be more or less reliable. Our exploration of the empirics of happiness will cover both macro- and microeconomic topics, and provide students with the opportunity to closely attend to statistical evidence.

Outline Of Syllabus

Lecture topics:

Topic 1: What is happiness and why does/should economics care about it? The relationship between happiness and utility.

Topic 2: Controversies in the study of happiness – can happiness be reliably measured, and how?

Topic 3: How does happiness relate to macroeconomic variables?

Topic 4: How does happiness relate to individual variables? Hedonic adaptation, economic choices and mistakes.

Topic 5: Happiness in the workplace.

Topic 6: Happiness and government policy.

Seminar topics:

Seminar 1: Methodological discussion of the Day Reconstruction Method.
Seminar 2: The causes of teenage unhappiness and suicide in the 2010s.
Seminar 3: The World Happiness Report.

Intended Knowledge Outcomes

1.       Understanding of the concept(s) of happiness, its importance in economics, and its connection to related concepts in the discipline.
2.       Knowledge of arguments in favour of and against the use of subjective wellbeing in economic research and policy.
3.       Understanding of how the happiness of populations relates to macro-conditions and the actions of policymakers.
4.       Understanding of how the happiness of individuals relates to their personal conditions and economic choices.

Intended Skill Outcomes

Upon completion of the module, students should have enhanced their ability to:

1.       Think critically and philosophically about economic concepts.
2.       Think critically about scientific methodology and weigh up evidence in methodological debates.
3.       Interpret statistical analyses.
4.       Obtain relevant information from key sources.
5.       Communicate in oral and written format using discipline-specific language.

Teaching Rationale And Relationship

The lectures provide the key course material, supporting knowledge outcomes 1-4 and skills outcomes 1-3. The recommended readings cover additional material, supporting all of the above in addition to skills outcome 4. The small group teaching provides further material and exercises, thereby also supporting knowledge outcomes 1-4 and skills outcomes 1-3, and – by its interactive nature – furthermore supports skills outcome 5.

Assessment Rationale And Relationship

The exam aims to test students’ depth and breadth of knowledge and understanding of the findings and debates covered in the course. It also aims to test their ability to think critically, interpret statistical analyses and communicate effectively using discipline-specific language.

RESIT INFORMATION: If students are eligible to a second attempt resit will be an exam and the resit calculation will be based 100% on the completed exam.

General Notes

N/A