Who can supervise my thesis?

The School provides you with a primary and secondary supervisor. While facilitating continuity in the case of staff leave, working closely with two supervisors provides you with a greater range of research expertise than would be possible through sole supervision.

You can expect to form a close working relationship with your supervisors, meeting regularly (very regularly through the opening stages of your research) throughout your time in the School. Supervisors are responsible for overseeing both your research and your broader career development.

Macroeconomics, Finance, and Econometrics

Dr João Rafael Cunha

  • Research expertise

    João’s research interests are empirical financial economics, macroeconomics and political economy. One of his research strands focus on the political economy of financial regulation. It studies how political factors influence financial regulation. Another strand focus on macro-financial issues. It studies the link between credit cycles, financial crises and medium-term economic growth. Finally, he is also studying the relation between competition and stability in the banking sector.

  • General research interests

    Financial regulation, banking, macro-ļ¬nance, political economy, monetary economics.

  • Potential Supervision Topics

    1. Macro-Finance (e.g. How does the credit cycle influence the business cycle?; What is the relationship between credit cycles and medium-run swings in economic growth?; What explains the heterogeneity in the impact of financial crises across countries?)
    2. Political Economy of Financial Regulation (e.g. What political factors influence financial regulation?; How do private interests affect financial regulation?; How does voting affect financial regulation?)
    3. Banking (e.g. Is there a significant trade-off between competition and stability in the banking sector?; How should regulation and competition policy interact in the banking sector?; How should the banking sector specificity in competition policy be dealt with?; What should be the role of competition policy in the banking sector?)
    4. Financial Regulation (e.g. Is there a financial regulation cycle? How does it behave? What are its features?)

Contact

Email:
joao.cunha@st-andrews.ac.uk
 
placeholder

Dr Paul Egan

  • Research expertise

    Paul is a researcher in applied macroeconomics. He is particularly interested in the economic and financial developments in China. He is currently researching Chinese financial stability and the nature and size of financial spillovers from China to the world economy.

  • General research interests

    Macroeconomics; Financial Stability; Economics of Transition; Chinese Economic and Financial Development; Monetary Policy in China.

  • Potential Supervision Topics

    1. Macroprudential policy and financial stability in China
    2. Chinese monetary policy transmission
    3. The role of the state in China’s economic development
    4. Implications of financial liberalisation for China
    5. Credit risk and financial vulnerabilities in the Chinese economy

Contact

Email:
pge4@st-andrews.ac.uk
 
placeholder

Dr Maria Chiara Iannino

  • Research expertise

    Maria Chiara's main research interests lie in the fields of behavioural finance and banking systemic risk. In the former, she focuses on investors’ nominal price preferences, disagreement, and market reactions to corporate events, such as mergers and acquisitions and stock splits. More recently, Maria Chiara has been working on banking and insurance companies’ systemic risk, investigating the impact of regulation on the resiliency and interconnectedness of the European banking system.

  • General research interests

    Market reactions to corporate events, investors’ disagreement, attention in the financial markets, banking systemic risk, banking regulation.

  • Potential Supervision Topics

    1. What is the impact of media on the financial markets efficiency?
    2. What is the impact of media on investors' disagreement and attention?
    3. New measures of peer effects among professional investors
    4. How does regulation contribute to banking systemic risk?
    5. What is the impact of interconnectedness on the resiliency of the banking system?

Contact

Email:
mci@st-andrews.ac.uk
 
placeholder

Dr Matthew Knowles

  • Research expertise

    Matthew is a macroeconomist who researches the implications of financial market frictions for macroeconomic fluctuations, optimal taxation and political economy issues. His current research includes papers on the causes of the long slumps in output that follow financial crises; the implications of financial market frictions for optimal capital taxation and the effects of banking deregulation on income inequality.

  • General research interests

    Macroeconomic effects of financial market frictions; Persistent effects of recessions; Optimal taxation and transfer policies; Determination of income and wealth inequality; Political parties and elections.

  • Potential Supervision Topics

    1. Studying, both theoretically and empirically, the implications of financial market frictions for business cycles, and the macroeconomic effects of financial shocks.
    2. Developing macroeconomic models to understand how and why recessions can have highly persistent economic effects, and comparing these models to data
    3. Developing theoretical models of optimal taxation and transfer policies and comparing these models to data.
    4. Modelling the dynamics of income and wealth inequality and comparing these models to data.
    5. Formal models of competition between political parties.

Contact

Email:
mpk6@st-andrews.ac.uk
 
placeholder

Dr Peter Macmillan

  • Research expertise

    Peter’s research areas are largely within monetary and financial economics. His main research focus is on the term structure of interest rates (the relationship between interest rates or bond yields that differ only in their term to maturity). Peter also works on aspects of monetary policy (for example the extent to which inflation targeting central banks have lower inflation outcomes). He also researches into the impact of macroeconomic factors on asset prices.

  • General research interests

    The term structure of interest rates, including tests of the expectations hypothesis and the impact on the term structure of policy shocks; The influence of central bank behaviour on inflation and growth outcomes; The impact upon stock markets of changes in macroeconomic conditions.

  • Potential Supervision Topics

    1. What can the impact of shocks to the term structure tell us about monetary policy preferences?
    2. How does the existence of the effective lower bound on interest rates influence the term structure?
    3. Do common macroeconomic factors influence international stock markets?

Contact

Email:
pdm1@st-andrews.ac.uk
 
placeholder

Prof Rod McCrorie

  • Research expertise

    Econometric theory, applied econometrics, time series analysis, macroeconometrics, financial econometrics.

  • General research interests

    Rod is generally interested in supervising students on agreed topics in econometrics. Specific areas of interest include theoretical and applied work using high frequency or mixed-frequency data; continuous time models, including small-scale financial econometric models and larger-scale macroeconometric models; aliasing and the identification problem.

  • Potential Supervision Topics

    For students with an established mathematical and statistical background, Rod would be interested in supervising work on theoretical and/or computational of statistical inference in stationary and non-stationary time series models (including explosive processes). This would mean either trying to develop the special function representations of the relevant distributions and densities or developing simulation methods to approximate the same.

Contact

Email:
jrm210@st-andrews.ac.uk
 
placeholder

Dr Gosia Mitka

  • Research expertise

    Gosia is interested in international macroeconomics. She studies how policies in one country affect its trading partners and how policymakers can coordinate their monetary, macro-prudential and trade policies to improve welfare in their interconnected economies.

  • General research interests

    International macroeconomics; international trade; financial stability; international policy coordination; multi-country frameworks; game theory.

  • Potential Supervision Topics

    1. International policy coordination (monetary, macro-prudential, exchange rate, tariffs)
    2. The role of asymmetries between economies in determining the outcomes of their strategic interactions
    3. Policy spillovers from advanced economies to emerging economies
    4. Implications of the dominant currency paradigm for policymakers

Contact

Email:
mmm25@st-andrews.ac.uk
 
placeholder

Dr Yulia Moiseeva

  • Research expertise

    Yulia’s research seeks to understand the interaction between credit and labour market frictions. Her current projects investigate this interaction as a potential account of aggregate macroeconomic fluctuations, as well as the effect of credit market imperfections on wages.

  • General research interests

    Macroeconomics, business cycles, credit constraints, labour economics, wages.

  • Potential Supervision Topics

    1. How do credit market imperfections affect macroeconomic outcomes, especially the dynamic responses of the economy to shocks?
    2. Are the responses of the economy subject to credit frictions similar or different in booms and recessions?
    3. How do labour market frictions affect credit and capital markets?
    4. Wage determination mechanisms in the presence of labour market frictions.
    5. The cyclicality of wages and unemployment.

Contact

Email:
ym40@st-andrews.ac.uk
 
placeholder

Dr Kemal Ozhan

  • Research expertise

    Kemal’s research falls within the broad areas of international finance, macroeconomics, and monetary economics. He is interested in the role of frictions (e.g., credit, information, and pricing) in international financial adjustment; the effects and conduct of macroeconomic policies in open economies; and international business cycle transmission. His recent research is motivated from the ongoing events in the Eurozone, which investigate the regime-dependent role of financial intermediation in the transmission and propagation of fluctuations within and across countries. He is further interested in the conduct of unconventional monetary policy in emerging markets.

  • General research interests

    International finance, macroeconomics, monetary economics, financial frictions and business cycles, open economy macroeconomics.

  • Potential Supervision Topics

    1. Government policy and credit markets (e.g. How to design policy actions in order to ameliorate the distortions that cause economic inefficiency?)
    2. Macroeconomic effects of global banking (e.g. What are the implications of banking on cross-border capital flows?)
    3. Macroeconomic effects of uncertainty (e.g. What are the international transmission channels of global financial uncertainty?)
    4. Producer entry-exit and business cycles (e.g. What are the consequences of product market reforms in a model with endogenous producer entry?)
    5. Hysteresis (e.g. What are the possible mechanisms that generate persistent effects on employment and productivity in response to temporary shocks?)

Contact

Email:
gkozhan@st-andrews.ac.uk
 
placeholder

Dr Katerina Petrova

  • Research expertise

    Katerina's research interests are in the areas of time series econometrics and Bayesian methods with particular focus on macroeconomic applications and monetary policy. She is currently working on establishing a semi-parametric methodology for the estimation and inference of models in the presence of time varying parameters and applying this methodology to VAR and DSGE models. Katerina is also interested in MCMC algorithms, state space models and macroeconomic forecasting.

  • General research interests

    Time series econometrics, macroeconometrics, asymptotic theory, Bayesian methods, MCMC algorithms.

  • Potential Supervision Topics

    1. Investigating the asymptotic properties and applications of linear and nonlinear state space models filters for the estimation of time varying parameters.
    2. The estimation and inference of macroeconomic models, such as vector autoregressive models and dynamic stochastic general equilibrium models in the presence of stochastic volatility
    3. Asymptotically valid Bayesian inference and design of Markov Chain Monte Carlo algorithms in the presence of distributional misspecification.
    4. Asymptotic properties and the forecasting performance of big data and machine learning methods.
    5. Asymptotic properties of estimators suited for nonlinear non-Gaussian dynamic stochastic general equilibrium models.

Contact

Email:
katerina.petrova@st-andrews.ac.uk
 
placeholder

Dr Vivek Prasad

  • Research expertise

    Vivek is a macroeconomist and former central bank economist. He is interested in understanding how the presence of financial frictions affects the outcome of macroeconomic policy, as well as the appropriate policy response to financial shocks in the presence of such frictions. He is particularly interested in large-scale asset purchase programmes (such as quantitative easing) and fiscal policy. His work is theoretical and is formulated within dynamic general equilibrium models.

  • General research interests

    Quantitative macroeconomics, DSGE models with financial frictions, financial shocks, fiscal policy, quantitative easing.

  • Potential Supervision Topics

    1. Stochastic simulations of policy in DSGE models with financial frictions
    2. Conventional macroeconomic policy in DSGE models with financial frictions
    3. Unconventional macroeconomic policy in DSGE models with financial frictions, with particular emphasis on large-scale asset purchase programmes
    4. The effects of financial shocks in DSGE models with financial frictions
    5. The reversal of large-scale asset purchase programmes

Contact

Email:
vivek.prasad@st-andrews.ac.uk
 
placeholder

Dr Ioannis Psaradellis

  • Research expertise

    Ioannis has a particular interest in exploring the predictability of quantitative methods in the empirical asset pricing context. He has worked on the subject of modelling and trading implied volatility and on the recognition of potential anomalies violating market efficiency, as those revealed by techniques actively implemented by hedge funds and investment banks (e.g. technical analysis, statistical arbitrage etc). His current work concentrates on revisiting statistical inference frameworks for multiple strategies performance, while adjusting for statistical biases such as data snooping.

  • General research interests

    Empirical asset pricing, investment management, performance evaluation, financial econometrics, financial forecasting.

  • Potential Supervision Topics

    1. Statistical inference and multiple hypothesis testing for controlling data mining issues in factor modelling and trading strategies.
    2. Hedge fund performance evaluation using multiple hypothesis testing frameworks.
    3. Modelling the realised volatility of overnight stock returns.
    4. Algorithmic trading and the effects on hedge fund performance.
    5. Financial market predictability with artificial intelligence and machine learning techniques.

Contact

Email:
ip42@st-andrews.ac.uk
 
placeholder

Dr Ozge Senay

  • Research expertise

    Ozge researches international macroeconomics, finance and monetary economics and analyses the interactions between financial markets and the design of welfare-maximising monetary policy. Recent papers investigate the ways in which the structure of financial markets and imperfections in the workings of financial markets, affect the links between portfolio choice, monetary policy and welfare. Ozge uses newly-developed solution techniques to understand how the endogenous allocation of international portfolios across assets affects the optimal design of monetary policy. These are important questions that are of vital interest to policymakers reacting to macroeconomic shocks such as recent financial crises.

  • General research interests

    International macroeconomics, monetary economics, macroeconomic theory, international finance, macroeconomic policy.

  • Potential Supervision Topics

    1. What are the implications of different financial structures on the design and conduct of optimal monetary policy under different financial market structures?
    2. How can endogenous price setting alter monetary policy, when the economy is subject to real and financial shocks?
    3. An analysis of different financial market frictions on the design of conventional and unconventional monetary policy.
    4. The welfare effects of exchange rate regime choice under different goods and financial market structures.
    5. An analysis of the effects of asymmetric information in financial markets on optimal monetary policy.

Contact

Email:
os12@st-andrews.ac.uk
 
placeholder

Dr Radek Stefanski

  • Research expertise

    Radek uses theory and empirical tools to analyse the impact of structural transformation on various aspects of the economy. He focuses on both 1) traditional industrialisation as well as 2) natural resource induced de-industrialisation.

  • General research interests

    Structural transformation; industrialisation; growth; macroeconomics; energy.

  • Potential Supervision Topics

    1. What role does industrialisation play in a country's energy demand?
    2. What role does structural transformation play in a country's carbon and sulphur emissions?
    3. What role does structural transformation play in driving income inequality?
    4. What role does industrialisation play in the volatility of a country's business cycle?
    5. What impact do oil discoveries have on migration, selection, productivity?

Contact

Email:
rls7@st-andrews.ac.uk
 
placeholder

Prof Alan Sutherland

  • Research expertise

    Alan is interested in the economic and policy implications of international financial markets. He has worked extensively on models of exchange-rate determination and exchange rate crises. An important theme in this research is the analysis of the macroeconomic and welfare implications of different exchange rate and monetary policy regimes. His most recent work focuses on the cross-country economic linkages created by increased financial market integration. In collaboration with co-authors, Alan has developed efficient numerical techniques for analysing international asset trade and portfolio allocation in multi-country general equilibrium models. This work sheds light on the role of international financial flows in transmitting economic shocks between countries.

  • General research interests

    International macroeconomics, monetary economics, international finance, macroeconomic theory, solution methods.

  • Potential Supervision Topics

    1. Methodological topics: Developing different solution methods for analysing monetary policy in open economy models with endogenous country portfolios.
    2. An analysis of international risk sharing with portfolio choice under different model specifications.
    3. Portfolio choice and optimal monetary policy under different financial market structures, from autarky to complete markets.
    4. The implications of asymmetric information, international asset trade and financial shocks on the design of optimal monetary policy.
    5. How does the presence and nature of international asset trade and financial market frictions change the response of the real economy to financial market shocks?

Contact

Email:
ajs10@st-andrews.ac.uk
 
placeholder

Dr Alex Trew

  • Research expertise

    Alex researches the relationship between economic development and geography in mainly historical contexts. He has worked on topics from banking to infrastructure to pollution. He has a number of projects on the importance of transport infrastructure for growth and for reshaping the geography of the economy using new theoretical models and new datasets to shed light on the long-run interaction between transport infrastructure and development. He is also interested in the relevance to policy of historical pollution and continued social deprivation i.e. that social segregation is not just for the short-run but may persist long into the future. Alex also research mechanisms underpinning the relationship between financial development and growth.

  • General research interests

    Economic growth, economic history, economic geography, and financial development.

  • Potential Supervision Topics

    1. Financial geography
    2. Finance and structural transformation
    3. Pollution and persistence
    4. The growth and decline of cities
    5. Transport and industrialization

Contact

Email:
awt2@st-andrews.ac.uk
 
placeholder

Dr Ruslan Tuneshev

  • Research expertise

    Ruslan’s research interests are tightly related to derivative markets and empirical asset pricing. His recent work contributes to the understanding of how various measures of options investors’ beliefs affect future firm and stock market performance. Currently, Ruslan is examining the interdependency between crash risk premia embedded in options prices and momentum profits. Overall, a key area of Ruslan’s expertise lies in establishing novel predictability links between different markets, with a special emphasis on the development of profitable trading strategies based on observed anomalies.

  • General research interests

    Empirical Asset Pricing, Options Market, Behavioural Finance, Active Investing, Asset Management.

  • Potential Supervision Topics

    1. Exploring new dimensions of informed trading in the options market and exploiting their profitability through various trading strategies.
    2. Establishing additional short-term predictability channels between stock and options markets.
    3. Developing novel measures of sentiment and dispersion of beliefs in the options markets and examining their predictability power for crash risk premia.
    4. Investigating the trading patterns of hedge and mutual funds and identifying their contribution to existing asset pricing anomalies.

Contact

Email:
rt65@st-andrews.ac.uk
 
placeholder

Microeconomics and Behavioural Economics

Dr Toman Barsbai

  • Research expertise

    Toman’s research focuses on the causes and consequences of international migration and the origins and economic implications of preferences and norms around the world. He uses experimental and observational micro-level data, which he collects in the field or archives.

  • General research interests

    Development economics, political economy, applied economics, behavioural economics, culture.

  • Potential Supervision Topics

    1. Which factors determine immigrants’ socio-economic integration?
    2. What are the socio-economic consequences of emigration for migrants’ countries of origin?
    3. What role does culture play for economic development?
    4. How do cross-cultural encounters shape preferences and norms?
    5. What explains the spatial distribution of human behaviour and preferences?

Contact

Email:
toman.barsbai@st-andrews.ac.uk
 
placeholder

Dr Luc Bridet

  • Research expertise

    Luc’s primary interests are in the economics of information, particularly when economic agents face a trade-off between experimenting to learn about their environment and behaving optimally based on what they already know. He is also interested in behavioural economics questions related to image concerns, self-delusion and self-signalling, and in the use of indirect inference methods to match these theoretical models to real-world data, particularly in higher education applications.

  • General research interests

    Microeconomic theory and applications, industrial organisation, public economics, contract theory, experimentation, indirect inference.

  • Potential Supervision Topics

    1. Incentives, motivation, and information flows in organisations
    2. Team incentives and intrinsic motivation
    3. The charity sector: evaluation and tax treatment
    4. Student motivation and the design of assessments in higher education
    5. Grade inflation and competition in the higher education sector

Contact

Email:
lb222@st-andrews.ac.uk
 
placeholder

Prof Miguel Costa-Gomes

  • Research expertise

    Miguel’s main research interests revolve around the observation and modelling of the behaviour of individuals in a variety of economic contexts under controlled conditions in the computer laboratory. The economic contexts include situations where individuals do not interact with others and have to choose between different alternatives to those where people interact with others, such as in simultaneous and dynamic games or in markets in which financial assets are traded. Using statistical tools, he models individuals’ observed behaviour to predict their behaviour in novel situations.

  • General research interests

    Experimental and behavioural finance, experimental and behavioural economics, game theory as part of empirical economics.

  • Potential Supervision Topics

    1. Heterogeneity in strategic thinking
    2. Experimental financial asset markets
    3. Agents’ beliefs in games and markets
    4. Statistical models of play in games
    5. Heterogeneity in individual decision making

Contact

Email:
miguel.costa-gomes@st-andrews.ac.uk
 
placeholder

Dr Tugce Cuhadaroglu

  • Research expertise

    As an economic theorist, Tugce is interested in developing analytical tools and models to study a wide range of social and economic phenomena. Her recent research interests can be summarised in two subtitles. Decision theory, in particular choice theory, is her first focus of interest. Tugce aims to understand how individuals make their decisions. Mainstream economic theory assumes that individuals are rational; they are self-interested, fully informed about their own preferences and able to compare all possible options in a consistent way when making a decision. However both common sense and scientific evidence confirm that this indeed is not the case. There are many other factors that shape individual decision-making that cannot be simply explained by individual rationality. Tugce aims to investigate those different mechanisms that are used by ‘boundedly rational’ individuals for decision-making. In particular, she is interested in the role of social influence on individual decisions. How do individuals influence each other’s behaviours? What are the mechanisms that we employ to influence each other? Can we disentangle the underlying influence only by looking at people’s behaviours? A second area of interest for Tugce is inequality theory. In particular, she is interested in the design of inequality measures. It is crucial to design ‘proper inequality indices’ in order to evaluate inequalities correctly. One way to achieve this is axiomatisation; starting from the properties that would be required from an inequality index and deriving the measure that satisfies those. Tugce is specifically interested in developing measures for the evaluation of non-income inequalities such as education, health and subjective well-being.

  • General research interests

    Choice theory, bounded-rationality, social influence, inequality measurement, social choice and welfare.

  • Potential Supervision Topics

    1. Influence procedures for interacting individuals: How do individuals influence each other’s decisions? How can we incorporate peer influence into an individual decision making framework? How can we formulate procedures that individuals use to interact with each other?
    2. Influence networks: Can we identify the underlying web of influence out of observable behaviour?
    3. The short-term and long-term effects of social influence on individual decision-making.
    4. Boundedly-rational choice: Over the last decades many models of decision making that goes outside the standard description of rational choice has been developed to account for limitations and biases of individuals as decision makers. I am happy to work on related questions.
    5. Inequality or welfare measurement: Additionally, I am interested in designing well founded measurement techniques for evaluation of inequalities or welfare related variables.

Contact

Email:
tc48@st-andrews.ac.uk
 
placeholder

Dr Georgios Gerasimou

  • Research expertise

    Georgios works on choice/decision theory, revealed preference analysis and behavioural economics. He is interested in projects that aim to: 1) contribute to revealed preference theory and methods of analysis; 2) incorporate insights from psychology into economic modelling; 2) propose new or further understand existing models of rational decision making under certainty, risk and uncertainty; 3) study the implications of behavioural biases in imperfectly competitive market environments.

  • General research interests

    Choice/decision theory, Revealed preference analysis, Behavioural decision making & bounded rationality, Behavioural economics & behavioural industrial organisation, Demand theory.

  • Potential Supervision Topics

    1. Preference intensity modelling: representation of intensity orderings; revelation of preference intensity differences through observable behaviour; non-utilitarian welfare analysis when interpersonal differences in preference intensities are accounted for.
    2. Decision making and welfare analysis when agents are potentially indecisive or choice overloaded.
    3. Firm competition when consumers are potentially indecisive or choice overloaded.
    4. The elicitation of people’s indecisiveness and overload constraints in the lab or through market or field data.
    5. Computational methods in revealed preference analysis.

Contact

Email:
georgios.gerasimou@st-andrews.ac.uk
 
placeholder

Dr Jim Jin

  • Research expertise

    Jim has mainly been working on industrial economics, public economics and international economics. His main approach is to use simple theoretical/mathematical models to derive robust and meaningful policy recommendations. For example, regarding climate change, he argues that the best way to reach an international agreement on carbon reduction is a universal tax and an equal compensation for everyone in the world. He is also interested in basic income and believes that a modest level of unconditional income for everyone, replacing unemployment benefit and some mean-tested benefits, will benefit a poor majority.

  • General research interests

    Industrial economics; Environmental economics; Income taxation; International economics; Comparative economics.

  • Potential Supervision Topics

    1. Dynamic market power and competition in oligopoly, either theoretical or empirical, with special interest in the relation between short-run competition efficiency and long-run growth.
    2. Designing a better international agreement on climate change, focusing on the fairness in real cost allocation between developed and developing countries.
    3. Economic and political justification of basic income, especially its feasibility and effectiveness in developing countries with rapid growth but severe inequality.
    4. Negative aspects of free trade with imperfect competition, comparing the arguments of Ricardo and List with 21st century evidence.
    5. Truth behind China’s economic growth, comparing mainstream economics with evidence and alternative explanations/theories.

Contact

Email:
jyj@st-andrews.ac.uk
 
placeholder

Dr Margaret Leighton

  • Research expertise

    Margaret uses data to answer questions and to test economic hypotheses. While education is her primary field of interest, she has also worked on projects in development economics and labour economics. In recent research, she has gathered and analysed data to better understand how education policies shape students’ school choices and performance, and how those choices determine important later outcomes such as occupations, wages, and career satisfaction.

  • General research interests

    Education systems; labour market return to education; educational achievement in developing countries; higher education; human capital specificity.

  • Potential Supervision Topics

    1. Formation of, and returns to, general and specific human capital.
    2. Labour market returns to specific features of educational curricula or education systems.
    3. Horizontal education-occupation mismatch, or mismatch between individual comparative advantage and occupation tasks.
    4. I am also happy to supervise students who are working with, or have recently worked with, education or development organisations, and wish to carry out doctoral-level research which includes impact evaluations of ongoing projects or interventions. I am open to discussing projects of this type around a broader range of topics including, but not limited to, education.

Contact

Email:
mal22@st-andrews.ac.uk
 
placeholder

Dr Manfredi La Manna

  • Research expertise

    Manfredi’s research interests lie in the areas of the economics of innovation and optimal organisation. He is especially interested in the intersection of the two: e.g., can the theory of optimal organisation provide new insights into research joint ventures? He is currently working on the implications of optimal organisation for the modelling of globalisation and especially the effects of globalisation on inter-country inequality.

  • General research interests

    Applications of systems reliability theory; Optimal organisation; Research joint ventures; Economics of patents; Globalisation and inequality.

  • Potential Supervision Topics

    1. Can the Kremer-Maskin theory of globalisation explain inter-country inequality?
    2. What is the optimal organisation for collaborative research and development?
    3. The welfare effects of mergers in high-technology sectors.
    4. The welfare analysis of alternative patent regimes.
    5. The effects of alternative taxation regimes on executive incentives and behaviour.

Contact

Email:
mlm@st-andrews.ac.uk
 
placeholder

Dr Irina Merkurieva

  • Research expertise

    Irina is a labour economist with research interests in the dynamics of employment behaviour over the life cycle, search theory, health and ageing. Her current research projects address the impact of involuntary job loss on the individual and household retirement decisions.

  • General research interests

    Labour economics, retirement, health economics, informal employment, search theory.

  • Potential Supervision Topics

    1. Life-cycle models of labour supply and human capital investment
    2. The effect of parental education on the earnings of children
    3. Education and life-cycle labour supply
    4. Education, health and retirement
    5. Search models of informal employment

Contact

Email:
i.merkurieva@st-andrews.ac.uk
 
placeholder

Dr Margherita Negri

  • Research expertise

    Margherita is a microeconomist with a special interest in political economy, voting theory and game theory. She has conducted theoretical research on voting under proportional representation, the measurement of ethnic voting and immigration. Currently Margherita is working on the interplay between institutions and immigration policies in a country, populism, and on the application of bounded rationality to voting theory.

  • General research interests

    Political economy, voting theory, game theory, immigration, public economics.

  • Potential Supervision Topics

    1. Institutions and Migration Policies. The project looks at immigration from a political economy perspective. The aim is to study the link between the institutions (e.g. electoral systems) in place in a country and the type of immigration policies it adopts.
    2. Populism. What socio-economic mechanisms can drive the rise of populism? Can this be explained by a rational voting model? Under which circumstances do populist parties have incentives to enter the electoral competition?
    3. Electoral Systems and Political Parties. This is a general topic that encompasses all questions related to the functioning and effects of electoral systems. Electoral systems are the rules of the electoral game that shape the behaviour of political parties and voters.
    4. Causes and effects of Political Participation. This is a general topic that encompasses all questions related to voting behaviour and the decision to vote. An interesting example is the analysis of vote swapping (two voters in different constituencies choose to swap their vote): can this be sustained in equilibrium?
    5. Ethnic voting. The project aims at analysing the phenomenon of ethnic voting. Broadly defined, ethnic voting is the extent to which voting decision depend on ethnic considerations. Interesting questions within this project could be: how can we best measure ethnic voting?

Contact

Email:
mn48@st-andrews.ac.uk
 
placeholder

Dr Kemal Ozbek

  • Research expertise

    Kemal’s research expertise covers a broad range of topics in economics motivated by policy relevant implications in daily life. Based on individual choice behaviour in experimental and empirical settings, he derives mathematical models using a wide range of theoretical tools from convex analysis and measure theory. Moreover, to identify potential policy implications of individual choice behaviour, Kemal also applies these models in real-life choice problems. In addition to main-stream methods, Kemal is also interested in studying the role of psychological factors on decision making and understanding economic implications of these factors for policy making.

  • General research interests

    Decision Theory, Behavioural Economics, Mechanism Design, Information Economics, Bounded Rationality.

  • Potential Supervision Topics

    1. Decision making with preferences for flexibility (e.g., what are key economic effects of rational inattention in decision making?)
    2. Decision making with preferences for commitment (e.g., what are policy relevant implications of temptations and self-control on choice? how can a policy maker help individuals with commitment problems?)
    3. Topics on identification of beliefs about future preferences (e.g., how can we measure the degree of sophistication and naivety in dynamic decision making environments? how can we use these beliefs in designing benevolent policies?)
    4. Topics on costly information acquisition (e.g., what should be the optimal price of a product when information acquisition is costly for the customers?)
    5. Decision making under ambiguity aversion (e.g., what are behavioural implications of ambiguity aversion in theoretical and applied economic decision making settings? can we have a unifying theory for various ambiguity aversion models?)
    6. Topics on welfare economics (e.g., what are normatively good criteria for policy making on tackling with global warming and climate change problems?)
    7. Topics on allocation of discrete resources and market design (e.g., what is a good design of an organ transplant program?)

Contact

Email:
kemal.ozbek@st-andrews.ac.uk
 
placeholder

Dr Matthew Polisson

  • Research expertise

    As an applied microeconometrician, Matthew has a broad research interest in developing empirical methods and implementing procedures that involve taking economic theory to microdata in both observational and experimental settings. Most (but not all) of his work (to date and in progress) follows in the tradition of revealed preference (in the spirit of Afriat (1967), Diewert (1973), and Varian (1982)). This strand of applied microeconomics has the advantage of being completely agnostic about everything except for the essential components of a given theory or model, i.e., it avoids making auxiliary assumptions which conflate primary and ancillary hypotheses.

  • General research interests

    Applied microeconometrics, microeconomic theory, health economics.

  • Potential Supervision Topics

    1. Revealed preference
    2. Consumer demand
    3. Risk and uncertainty
    4. Intertemporal choice
    5. Dimension reduction
    6. Partial identification

Contact

Email:
mrp5@st-andrews.ac.uk
 
placeholder

Prof Clara Ponsati

  • Research expertise

    Clara specialises in game theory, conflict, political economy and public economics. She has conducted extensive research on conflict resolution, negotiations, mediation and voting. Currently Clara is working on the dynamics of consensus building, group formation, and the stability and break up of power relationships. Major topics of interest are the links between group formation and majoritarian institutions, understanding the causes and effects of meritocracy and egalitarianism in the performance and stability of democratic organisations.

  • General research interests

    Game Theory, Conflict Resolution, Negotiations, Political Economy and Public Economics.

  • Potential Supervision Topics

    1. Dynamic consensus building and voting
    2. Distribution rules and group stability
    3. Taxation in the global economy
    4. Inequality and migration policies
    5. Electoral systems and political parties
    6. Causes and effects of political participation
    7. Fiscal federalism and political competition

Contact

Email:
clara.ponsati@st-andrews.ac.uk
 
placeholder

Dr Luca Savorelli

  • Research expertise

    Luca Savorelli is a health economist and his research focuses on the economics of eating behaviour, fat taxes and social pressure to be thin. He is also interested in field experiments, which he has run in recent years working with firms in the healthcare, woodworking, and baked goods sectors. He has published also in the field of innovation economics, studying international collaborations in inventive activities.

  • General research interests

    Economics of eating behaviour and obesity; Culture and economics; Democracy, incentives and organisation within firms; Economics of patents and innovation; Social pressure and economics behaviour.

  • Potential Supervision Topics

    1. The influence of cultural traits and cultural distance on the internationalisation of inventive activities.
    2. Theoretical models to underpin gravity models which are used in the empirical analysis of the economics of patents.
    3. The development of democratic values at school and in children.
    4. Laboratory experiments related to non-monetary incentives in the workplace.
    5. Culture and economic incentives.

Contact

Email:
luca.savorelli@st-andrews.ac.uk
 
placeholder

Dr Vibhor Saxena

  • Research expertise

    Vibhor’s field of specialisation is development economics. His research interests are based on broad range of issues of global south: energy, inequality, poverty, microfinance, gender, and demography. His research is focused on applied econometrics and he has employed several large datasets (unit level and aggregated) in his research. Vibhor is currently working on energy issues in India and Bangladesh and son preference in India and BRICs countries. He is also working on the impact of financial deleveraging on the households in the regions where formal credit markets do not exist.

  • General research interests

    Energy, microfinance, gender, applied econometrics, and development economics.

  • Potential Supervision Topics

    1. Structural reasons for energy inequality and poverty at the household and firm level. For e.g. discrimination, accessibility, and affordability.
    2. Outcomes of energy inequality and poverty at the household and firm level. For e.g., households face health problems and firms face constraints in producing output and creating jobs.
    3. Microfinance provides cheap credit to households and firms where formal credit is unavailable or is costly in poor countries. I am interested in estimating evidence for or against microfinance, considering that cheap credit can increase indebtedness due to time inconsistent preferences. For developed countries, this includes payday loans and loan sharks and their effect on households.
    4. Many cultures and countries, worldwide, show preference to have sons over daughters. This effects many socioeconomic outcomes, especially demographic. I am interested in estimating the structural reasons for son preference and its outcomes.
    5. Two specific outcomes (with significant spill over effects across time and space) of gender inequality across the world are nutrition and education. I am interested in conducting policy oriented impact evaluation studies to study the effect of specific variable(s) on these two outcomes.

Contact

Email:
vs57@st-andrews.ac.uk
 
placeholder

Prof David Ulph

  • Research expertise

    David is an applied micro-economic theorist. He undertakes research on the effectiveness of competition and tax authorities in tackling various types of company misbehaviour - such as price rigging and tax avoidance - and the effectiveness of different penalty systems. He also works on the economics of climate change and of income distribution. In particular he is interested in the effectiveness of different types of tax and benefit systems and in the implications for both environmental and welfare policies of recognising that individual well-being and behaviour is affected by factors such as their relative income, and various types of norms.

  • General research interests

    Design of penalty regimes for anti-competitive behaviour; Measuring the effectiveness of competition authorities; Design of competition policy for highly innovative industries; Effects of competition on company misbehaviour; Individual well-being and behaviour in presence of norms.

  • Potential Supervision Topics

    1. How is the effectiveness of Competition Authorities affected by the penalty regime in place?
    2. What is optimal tax/benefit system when individuals adhere to consumption norm? Can this explain Scandinavian tax/benefit systems?
    3. Interaction between innovation, market dominance and competition policy. Was EU right to penalise Google?
    4. Cheating vs innovating – why cheat (evade/avoid tax, abuse dominant position) when you can succeed in other ways?
    5. What are distributional implications of different types of peer group comparisons – broad/narrow? How might this relate to social media?
    6. What determines labour supply of individuals when they care about the work they do – e.g. nurses? Could this lead to unstable markets?

Contact

Email:
du1@st-andrews.ac.uk
 
placeholder

Prof Andy Zapechelnyuk

  • Research expertise

    Andy is a theoretical economist whose research interests lie in the field of microeconomic theory and applications, focusing on communication, optimal information disclosure, optimal non-monetary contracts, and robust decision theory.

  • General research interests

    Contract theory, bargaining theory, information economics, game theory, and political economy.

  • Potential Supervision Topics

    1. Design of persuasion mechanisms (e.g., certification programmes)
    2. Non-monetary contract design (e.g., allocation of council housing, allocation of stipends or grants)
    3. Decision making, bargaining, and search in unknown or ambiguous environments
    4. Any challenging, practically relevant problems involving the microeconomic theory toolset

Contact

Email:
az48@st-andrews.ac.uk
 
placeholder

Dr Min Zhang

  • Research expertise

    Min’s research interests lie in the broad area of microeconomic theory. In particular, he has been working on both the canonical theories of social learning and their applications to related economic contexts. Some of the existing projects include the study of learning through public observations by market participants, in the context of sequential markets with resale opportunities, on the dynamics of prices and other market characteristics, as well as the study of the optimal policies of public information transparency in the context of rational observational learning.

  • General research interests

    Microeconomics, learning, information economics, auctions, game theory.

  • Potential Supervision Topics

    1. How different types of information structures affect the behavioural implications of social learning
    2. How information aggregates in sequential markets through public observables and the implication on trading outcomes
    3. How (anti-)transparent public information policy affects social learning and thus social welfare
    4. How to design dynamic trading mechanisms in sequential markets with learning
    5. How different type of behavioural assumptions or bounded rationalities affect social learning

Contact

Email:
mz47@st-andrews.ac.uk
 
placeholder