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Rebuilding Macroeconomics sees the economy as a living system for creating and using knowledge, often embedded in goods and services. Our emphasis on knowledge makes clear that we live in a world of fundamental uncertainty. Yet far from being powerless to act, it is our ability to harness uncertainty which makes us such a resourceful species.

This shift in emphasis to knowledge creation allows us to return to the time-honoured big macroeconomic policy questions of creativity, agency, sustainability, coordination and institutions.


About Us

Rebuilding Macroeconomics is part of the Institute for Global Prosperity, University College London. We have a new PhD scheme in Social Macroeconomics and teach an MSc course on the New Economics of Prosperity at IGP.



Institute for Global Prosperity, Rebuilding Macroeconomics and Global Solutions Initiative new PhD Scheme on Social Macroeconomics

Key Details:

  • For admissions in: October 2024

  • Applications Open: February 2024

  • Closing Date: May 31st 2024

  • Scholarships available: One (UK home students only and tuition fees only)

  • Duration: Full time (3 years) or Part time (5 years) MPhil/PhD

  • Degree programme: Global Prosperity MPhil/PhD programme

  • Location: Institute for Global Prosperity, UCL based in London


About the programme

The Institute for Global Prosperity (IGP) and the Global Solutions Initiative (GSI) are two transdisciplinary organisations committed to achieving shared prosperity for people and planet in the 21st century. Rebuilding Macroeconomics (RM) is a research network within IGP which aims to make macroeconomics relevant to meet these challenges.


Joining this programme allows you to become part of a community of people striving to think bigger, challenge conventional orthodoxy and engage in exciting and thought-provoking research.

This position will be under the guidance and supervision of Professor Angus Armstrong (Director of Rebuilding Macroeconomics at IGP), Professor William Hynes (Honorary Professor at IGP and Climate Economist at the World Bank) and Professor Dennis Snower (Founder and President of the GSI). 


Image by Martin Adams

Thermoeconomics: An axiomatic theory of aggregate economic phenomena

Robert MacKay and Nick Chater | November 09, 2023

Working Paper No 67

Modern Housing Complex

The Effect of Inter-Municipal Cooperation on Social Assistance Programs: Evidence from Housing Allowances in England

Thomas Elston, Germà Bel and Han Wang | May 12, 2023

Working Paper No 66

If it ain’t broke, don’t fix it: When (and why) independent service delivery is preferable to collaborative public management

Thomas Elston, Germà Bel and Han Wang | March 29, 2023

Working Paper No 65

View all our working papers, discussion papers and special issues here


  • ABM for Macroeconomics
    ABM for Macroeconomics
    Tue, 13 Jun
    Bank of England, Moorgate Auditorium
    13 Jun 2023, 14:00 – 17:30
    Bank of England, Moorgate Auditorium
    We co-hosted an event about Agent-Based Modelling (ABM) with the Bank of England and Professor Giovanni Dosi on 13 June in London. The event was tailored to the needs of policy-makers and policy economists.
  • Festschrift for Alan Kirman
    Festschrift for Alan Kirman
    16-17 March
    Bank of England, Moorgate Auditorium
    16-17 March
    Bank of England, Moorgate Auditorium, 20 Moorgate, London EC2R 6DA, UK
    We hosted a Festschrift to celebrate the career and research of Professor Alan Kirman on 16-17 March 2023 in London. Keynote speakers included Sam Bowles, Jim Heckman, Lucrezia Reichlin and Joe Stiglitz.

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