Professor Elizabeth Baldwin

Roger Van Noorden Fellow and Tutor in Economics

Associate Professor of Economics

DPhil, MPhil, DPhil, MMath Oxf

Elizabeth originally studied mathematics, completing her undergraduate degree in 2003 and a DPhil in 2006, at Oxford.  After a spell as a postdoc in mathematics, she transferred her attention to economics, studying the MPhil and then the DPhil at Oxford; finishing in 2014.  She joins Hertford after a postdoc at the Grantham Research Institute of the London School of Economics, as well as having had a Research Fellowship at Nuffield College, Oxford.

Undergraduate teaching 

Elizabeth teaches undergraduate tutorials in microeconomics.  She will be designing a new undergraduate paper in environmental economics.


Elizabeth's research follows two themes.

In the first, she studies consumer theory for indivisible goods: both the underlying geometry that preferences induce on price space, and the practical implications of this for auction design.  Her novel contribution has been to introduce the techniques of "tropical geometry" to economics, which has enabled her and her coauthors to gain new insights into how preference descriptions may be generalised, and to see clearly when and why competitive equilibrium exists and fails.  She is currently using these insights to design sealed bid auctions for multiple indivisible goods.

In the second, Elizabeth works on the economics of climate change.  She is particularly interested in theoretical question of how this topic should be approached, given our limited experience with the extent to which warming could damage human welfare.  And in more recent work, she is exploring the importance of "learning by doing" in technological progress, as well as recognising that investments in specific sectors are irreversible, in choosing the timing of policies to reduce emissions.


"Spatial development of hydrogen economy in a low-carbon UK energy system" International Journal of Hydrogen Energy, Volume 38, Issue 3, Pages 1209–1224, 2013 (with Nazmiye Balta-Ozkan).

"Thinking Through the Climate Change Challenge" In Climate Change and Common Sense: Essays in Honour of Tom Schelling, R. Hahn and A. Ulph, eds., Oxford University Press, 2012. (with R. Hahn, D. Anthoff, L. Cohen, D. Coyle, P. Dasgupta, S. Dietz, D. Frame, G. Heal, C. Hepburn, M. Hoel, C. Kolstad, A. Lange, R. Mendelsohn, K. Nyborg, I. Parry, P. Passell, K. Richards, R. Ritz, T. Schelling, M. Tavoni, A. Ulph, H. Vollebergh, A. Xepapadeas, S. Barrett and J. Hammitt).

"A geometric invariant theory construction of moduli spaces of stable maps". 104 pages, International Mathematics Research Papers, 2008, no. 1, (with David Swinarski).

"A GIT construction of moduli spaces of stable maps in positive characteristic". 18 pages, Journal of the London Mathematical Society, Volume 78, no. 1, 2008.