Economics BSc (Hons)

Modules

Methods of assessment for course overall: 71% coursework.

In general terms, Level 4 provides the broad platform for a thorough knowledge of the main economic and business related disciplines in an international context. Beyond Level 4, the structure enables you to make a more detailed journey to an understanding of economics, building on your strengths and interests.

• Introduction to the microeconomics of business (20 credits)
  This module examines the business environment emphasising the economic aspects. It is designed to enable you to understand the microeconomic forces operating on business decision makers, and some of the techniques and theories available to them. The module provides an initial grounding in economic theory and the techniques and practices used by businesses. It also investigates business organisations and their objectives, providing a platform for subsequent study in economics and the other disciplines of business. Assessment: 100% coursework.
• Business systems: an introductory management perspective (20 credits)
  The module covers information systems and technology, and their importance in the business world. The emphasis is on the importance of systems: MIS, decision support systems, expert systems in a business environment, business information systems hardware and software and their appropriateness in a particular business. You’ll also cover office automation networking and the internet, Data Protection Act and Computer Misuse Act, software licensing and basic data and access security. The module is assessed by two pieces of coursework: the first, is a time-constrained practical assessment employing the use of software applications; the second, is a case study related assignment. The weighting is equal (50:50).
• Introduction to marketing (10 credits)
  The module introduces the theories and practices of marketing. These principles include the marketing environment, the marketing mix, marketing research and buying behaviour. The module will introduce the nature and scope of marketing as a management tool, explore the role that marketing plays in various industries today, and introduce the marketing mix. Assessment: a two-hour multiple choice assignment.
• Business communication (10 credits)
  This first semester module aims to develop your communication skills as they relate to business studies. It focuses on improving your ability to use appropriate language and style for a professional audience within corporate and academic settings. The module will also develop your understanding of the world of business whilst enhancing critical thinking skills, presentation skills, team-working and the skills required for conducting research and producing academic writing for assessment. The teaching method is task-based and you'll be expected to participate actively in the learning process through pairwork, groupwork and independent study. Assessment 100% coursework.
• Introduction to Macroeconomics (20 credits)
  This module will introduce and emphasise how macroeconomics looks at the performance of the economy as a whole and how and why that is more complex than the accumulated activities of individual parts of the economic system (how macroeconomics differ from microeconomics). The module covers the interdependencies of economic factors: rate of inflation, trade policies, unemployment, population trends, industry trends, technological developments, and other factors, and how they affect economic performance and growth. Government policies will be explained and scrutinised to evaluate how they are developed to achieve economic objectives. Assessment: 100% coursework.
• Quantitative literacy (20 credits)
  The module examines a range of ways of handling, analysing and presenting numerical information. The underlying theme is to look at numerical data in a variety of forms, to determine the ‘story’ that this data is telling and to tell that ‘story’ to others. All aspects of business involve dealing with numerical information presented in a variety of formats. This module will give you the tools to handle such information appropriately and with confidence. Assessment: two open book time-constrained assignments, weighing 50% each.
• Historical and institutional economics (20 credits)
  This module provides an introduction to examining the institutional features of a modern economy, for example, the role of the state and the market, or, capital and labour. There has been continual evolution of the economy along with revolutionary transformations in technology and social organisation. We will consider a variety of perspectives from some of the great thinkers in economic and political economy, such as: Smith, Marx, Keynes, Veblen and Schumpeter. Assessment: 100% coursework.

• Intermediate macroeconomics (20 credits)
  This module builds on Introduction to Macroeconomics (Level 4). While some of the core material, such as, unemployment and inflation is repeated, it is done so at a higher – intermediate – level. This module, while describing the macroeconomic world around us, places far more emphasis on conveying the theoretical underpinnings for what is observed. At the same time new material is introduced, such as, the IS-LM formulation and the distinction between the approach of New Keynesians and the New Classical school. Assessment: coursework (40%) and unseen, two-hour exam (60%).
• Quantitative methods for economists (20 credits)
  This module introduces and makes use of quantitative methods and techniques for modelling economic and business problems cast in an unconstrained and constrained environment. The module introduces you to applied calculus for finding optimal solutions to specific issues in economics and business. Assessment: coursework (40%) and an unseen, three-hour exam (60%).
• Business skills (20 credits)
  This module is concerned with developing the critical, interpersonal and organisational skills needed by a manager, or aspiring manager, to function effectively in the internal and external organisational environment. It achieves this by adopting an activity-based approach to learning. You'll therefore be expected to reflect on the experiences they have in the facilitated workshops and to consider how they need to develop their own skills in order to prepare for the move into the workplace. Assessment: 100% coursework.
• Intermediate microeconomics (20 credits)
  This intermediate microeconomic module builds on the work from Level 4. It seeks to broaden and deepen the foundations of microeconomics. It provides a fundamental understanding of consumer theory, and the theory of the firm. An exploration of production theory supports this work. The operation of markets and their efficiency are also investigated. General equilibrium and social and welfare issues are introduced. Assessment: coursework (50%) and an unseen, two-hour exam (50%).
• Introduction to econometrics (20 credits)
  This module introduces you to the basics of econometrics. It starts with the standard OLS methodology and begins with simple regression analysis, moving on to multiple regression analysis. The problems associated with OLS are explained along with their consequences and potential alleviating measures. Indicator or dummy variables are also considered along with their applications. You'll also focus heavily on addressing econometric problems via the software Stata in lab-based sessions. Assessment: coursework (50%) and three-hour exam (50%).
• Environmental economics and sustainability (20 credits)
  This core module provides an opportunity for you to consider the role of the key international stakeholders in environmental economics and sustainability. You'll develop skills in critical policy analysis, policy formulation, negotiation and advocacy are developed through conferencing and discourse using trans-disciplinary case studies (TCS) that represent institutional stakeholders active within the realms of environment and sustainability. You'll build your awareness of topical issues, such as, climate change, globalisation, food, energy, water, health, employment, human rights, transportation, biodiversity, deforestation, poverty and inequality to resolve actual or potential management issues relating to environmental economics and sustainability. Assessment: 100% coursework.

• Optional work placement
• Multinational firms and global trade (20 credits)
  This module covers the nature of multinational firms and the role played by them in the modern global trading system. It considers different theories that account for the growth of the multinational company and alternative forms of international expansion. The growth of the multinational company is discussed in the context of the growth of world trade over the past half century and the process of deepening global integration. The role played by governments and global economic institutions in the regulation of world trade and investment is also examined and the effects of multinationals on home and host countries surveyed. Assessment: coursework (40%) and three-hour exam 60%.
• Economics project (40 credits)
  Students are expected to write a project primarily drawn from the subject matter of economics. The project may be drawn from any applied or theoretical area of economics. It may take one or more forms. For instance, it may involve critically examining an aspect of an economy or an organization’s operation, with a view to recommending and, in some cases, implementing necessary changes. In some cases the project may involve conducting an extensive literature search in order to examine critically ideas and views on a specific topic, or to critically test the work of an author. It may be a study of an economic policy proposal from government. In all cases students will be encouraged to focus their project on a specific economic issue or problem, and to avoid general or descriptive studies, that lack the rigor of an analytical piece of work. Assessment: 100% coursework.
• Introduction to advanced microeconomics (20 credits)
  This module introduces the you to an understanding of fundamental models in microeconomics and introduces you to methods of formal microeconomic analysis. It differs from previous modules on microeconomics that you will have completed in that it treats the models in a more formal manner, and additionally introduces you to the treatment of the models using various mathematical (and graphical) techniques including calculus. Assessment: coursework (40%) and exam (60%).
• Introduction to advanced macroeconomics (20 credits)
  This module introduces you to methods of formal macroeconomic analysis. It differs from previous modules on macroeconomics that you will have completed in that it treats the models in a more formal manner, and additionally introduces you to the treatment of the models using various mathematical techniques including calculus. The module can be roughly divided between the growth of economies in the long-run and the causes of such growth (or lack thereof) and the economy in the short-run with an emphasis on examining the business cycle. Assessment: coursework 40% and examination 60%.

Plus one of the following option modules (10 credits):

• Applied econometrics
• The political economy of China
• Employment and labour markets
• Economics of the European Union

Plus one of the following option modules (10 credits):

• Financial econometrics
• The business environment of Asia-Pacific
• Contemporary issues facing the UK and world economy