Economics BSc (Hons)

Key information


  • Course length: 3 years
  • UCAS code: L100
  • Year of entry: 2020
  • Typical offer: A-level : AAB / IB : 36 with no score less than 4 / BTEC : Applications considered
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Module details

Programme Year One

The first year will give you a strong foundation in economics, statistics and mathematics, and equip you with the qualitative and quantitative techniques needed to address economic issues. The finance pathway will also provide an introduction to finance and financial accounting.

Economics pathway

Core modules:

  • Development of economic thought (ECON128)
  • Mathematical economics (ECON113)
  • Principles of macroeconomics (ECON123)
  • Principles of microeconomics (ECON121)
  • Professional skills and employment preparation (ECON170)
  • Statistics for economics and business (ECON112).

Selected optional modules:

  • Global economic (and business) environment (ECON159)

or

  • Introduction to financial accounting (ACFI101)
  • Introduction to finance (ACFI103)

or

  • Introduction to managerial accounting (ACFI102)

Finance pathway

Core modules:

  • Development of economic thought (ECON128)
  • Introduction to finance (ACFI103)
  • Introduction to financial accounting (ACFI101)
  • Mathematical economics (ECON113)
  • Principles of macroeconomics (ECON123)
  • Principles of microeconomics (ECON121)
  • Professional skills and placement preparation (ECON170)
  • Statistics for economics and business (ECON112)

Year One Compulsory Modules

  • Development of Economic Thought (ECON128)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    This module aims to:
    1. Develop students understanding of the economic discipline
    2. Develop key skills in construction of Economic argument and comparative analysis
    3. Providing a foundation for further studies in the discipline.

    Learning Outcomes

    (LO1) Students will be able to provide a firm foundation of knowledge of the development of economic theories, ideas and tools.

    (LO2) Students will develop the relevant skills for the constructive use of economic knowledge in a contemporary environment.

    (LO3) Students will be able to foster an understanding of alternative approaches to the analysis of economic phenomena.

    (LO4) Students will be able to foster knowledge and awareness of historical, political, institutional, international, social and environmental contexts in which specific economic analysis is applied.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Communication skills

    (S4) International awareness

    (S5) Lifelong learning skills

  • Mathematical Economics (ECON113)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The aims are: - to prepare students for the more advanced Year 2 Mathematical Economics II option, which is a prerequisite for certain Year 3 modules. - to prepare students for the econometrics sequence starting in Year 2. - to develop mathematical maturity and problem solving skills.

    Learning Outcomes

    (LO1) An understanding of key techniques of proof

    (LO2) An understanding of comparative statics and calculus methods including integration, multivariate optimisation and constrained optimisation

    (LO3) An ability to solve economic problems using the mathematical techniques introduced during lecture hours.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Lifelong learning skills

    (S4) Adaptability

  • Principles of Macroeconomics (ECON123)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting40:60
    Aims

    The aims of this module are:
    To complement and build on Principles of Microeconomics and to provide a foundation for further studies in macroeconomics.
    To introduce concepts and theories of economics which help understand changes in the macroeconomic environment.
    To explain and analyse the formulation of government macroeconomic policy.

    Learning Outcomes

    (LO1) Explain the relationship between expenditures and national income and demonstrate how monetary and fiscal policies may be used to influence them

    (LO2) Explain the behaviour of economic aggregates such as national income, inflation and unemployment over time

    (LO3) Explain and assess government policy in a range of policy situations

    (LO4) Explain the framework of national income accounting

    (LO5) Use graphical and algebraic modelling to analyse the economy and economic policy

    (LO6) Explain the interconnections between the markets for goods, money and labour

    (LO7) Explain the principal influences on long-term growth and the short-run fluctuation in output around the long-run growth trend

    (LO8) Locate, select and analyse information relevant to assessing the state of the economy and economic policy

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) International awareness

    (S8) Lifelong learning skills

    (S9) Ethical awareness

  • Principles of Microeconomics (ECON121)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to provide students with a clear foundation of the purpose, scope and topics of microeconomic analysis. Students will develop their ability to think critically and analytically, and understand how to frame real world problems in an economic model. This module forms the starting point for all future courses in Microeconomics.  
    This module also emphasizes the role of mathematics in economics.

    Learning Outcomes

    (LO1) Students will have the ability to understand, explain, analyse and solve core problems in microeconomics.

    (LO2) Students will be able to practice and develop their mathematical techniques and understand the role of mathematical analysis in microeconomics.

    (LO3) Students will be able to familiarise themselves with the principles of using an 'economic model' and how to model individual decision-making for both consumers and producers.

    (LO4) Students will be able to apply their understanding of economic decision-making, optimisation and equilibrium to real world situations.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Communication skills

    (S4) IT skills

  • Professional Skills and Employment Preparation (ECON170)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting0:100
    Aims

    This module aims to provide students with the key skills required of the professional economist in the current business environment and to prepare students for an Economics based year in industry and beyond by providing them with an understanding of the skills required to secure a work placement and gain the most from their placement experience. It also provides the opportunity to acquire, develop and apply these skills.

    Learning Outcomes

    (LO1) Students will be able to critically reflect on and evaluate their skills in relation to prospective employers’ requirements and identify their development needs.

    (LO2) Students will be able to research career opportunities in relation to their own career aspirations using a range of media and approaches.

    (LO3) Students will be able to demonstrate effective oral and written communication skills appropriate to a business context.

    (LO4) Students will be able to experience working with others and how to develop effective relationships.

    (LO5) Students will be able to gain an awareness of the commercial issues facing organisations.

    (LO6) Students will be able to carry out effective self-guided research.

    (LO7) Students will be able to understand the importance of lifelong learning.

    (LO8) Students will be able to develop an awareness of digital capabilities relevant to economists and develop those digital capabilities.

    (S1) Adaptability

    (S2) Problem Solving Skills

    (S3) Commercial Awareness

    (S4) Teamwork

    (S5) Organisational Skills

    (S6) Communication Skills

    (S7) IT Skills

    (S8) Lifelong Learning

  • Statistics for Economics and Business (ECON112)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting80:20
    Aims

    The fundamental aim of this module is to give students an understanding of how statistics operates in Business and Economics;
    To provide both a foundation for further study and a broadly based introduction to statistics;
    To enable students to summarize, present and analyze data from a sample;
    To enable students to understand and apply the practice of statistical inference to sample data to estimate full population variable parameters;
    To enable students to work comfortably with variables as probability distributions, introducing some common and practicably useful probability distributions.

    Learning Outcomes

    (LO1) The basis of data analysis

    (LO2) The fundamental notion of statistical inference

    (LO3) Summarise,describe and present raw data

    (LO4) Estimate the mean of a population (and other statistics)

    (LO5) How to formulate and test hypotheses about values in the population based on random samples

    (LO6) How to carry out basic statistical computations and graphical analysis

    (LO7) How to identify and model relationships between two variables

    (LO8) Understand the use of probability in statistics

    (LO9) Communicating results

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Organisational skills

    (S6) Communication skills

    (S7) International awareness

    (S8) Lifelong learning skills

  • Introduction to Finance (ACFI103)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims:
    to introduce the students to finance.
    to provide a firm foundation for the students to build on later on in the second and third years of their programmes, by covering basic logical and rational analytical tools that underpin financial decisions  

    Learning Outcomes

    (LO1) Understand the goals and governance of the firm, how financial markets work and appreciate the importance of finance.

    (LO2) Understand the time value of money.

    (LO3) Understand the determinants of bond yields.

    (LO4) Recognize how stock prices depend on future dividends and value stock prices.

    (LO5) Understand net present value rule and other criteria used to make investment decisions.

    (LO6) Understand risk, return and the opportunity cost of capital.

    (LO7) Understand the risk-return tradeoff, and know the various ways in which capital can be raised and determine a firm's overall cost of capital.

    (LO8) Know different types of options, and understand how options are priced.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Introduction to Financial Accounting (ACFI101)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting15:85
    Aims

    To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double entry accounting techniques in recording transactions, adjusting financial records and preparing basic financial statements.

    Learning Outcomes

    (LO1) Prepare basic financial statements

    (LO2) Explain the context and purpose of financial reporting

    (LO3) Demonstrate the use of double entry and accounting systems

    (LO4) Record transactions and events

    (LO5) Prepare a trial balance

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

Year One Optional Modules

  • Global Economic (and Business) Environment (ECON159)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    The aim of this module is to introduce students to: the theoretical basis of economic integration the main economic features of the European Union the workings of the main institutions the major current policy issues.

    Learning Outcomes

    (LO1) Students will be able to describe the main economic aspects of the global economic and business environment in recent years.

    (LO2) Students will be able to identify major economic issues experienced by nations and institutions.

    (LO3) Students will be able to use appropriate economic analysis to examine such issues.

    (LO4) Students will be able to develop cognitive skills of analysis and synthesis.

    (LO5) Students will be able to identify major themes and issues relating to the global economic and business environment.

    (LO6) Students will be able to develop the ability to conduct individual study by drawing on multiple data sources.

    (LO7) Students will be able to develop the ability to discuss current policy issues, particularly as they affect the UK.

    (LO8) Students will be able to identify ethical issues in the interactions of global business networks.

    (S1) Problem solving skills

    (S2) Commercial awareness

    (S3) International awareness

    (S4) Lifelong learning skills

    (S5) Ethical awareness

    (S6) IT Skills

    (S7) Communication Skills

  • Introduction to Financial Accounting (ACFI101)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting15:85
    Aims

    To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double entry accounting techniques in recording transactions, adjusting financial records and preparing basic financial statements.

    Learning Outcomes

    (LO1) Prepare basic financial statements

    (LO2) Explain the context and purpose of financial reporting

    (LO3) Demonstrate the use of double entry and accounting systems

    (LO4) Record transactions and events

    (LO5) Prepare a trial balance

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

  • Introduction to Finance (ACFI103)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims:
    to introduce the students to finance.
    to provide a firm foundation for the students to build on later on in the second and third years of their programmes, by covering basic logical and rational analytical tools that underpin financial decisions  

    Learning Outcomes

    (LO1) Understand the goals and governance of the firm, how financial markets work and appreciate the importance of finance.

    (LO2) Understand the time value of money.

    (LO3) Understand the determinants of bond yields.

    (LO4) Recognize how stock prices depend on future dividends and value stock prices.

    (LO5) Understand net present value rule and other criteria used to make investment decisions.

    (LO6) Understand risk, return and the opportunity cost of capital.

    (LO7) Understand the risk-return tradeoff, and know the various ways in which capital can be raised and determine a firm's overall cost of capital.

    (LO8) Know different types of options, and understand how options are priced.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Introduction to Management Accounting (ACFI102)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The aim of this module is to introduce students to the nature and purpose of management accounting and to establish a sound foundation in its fundamental techniques.

    Learning Outcomes

    (LO1) Apply a range of basic techniques to produce information that aids management in planning, control and decision making;

    (LO2) Understand, interpret and analyse management accounting information, and demonstrate an awareness of the importance of non-financial factors;

    (LO3) Evaluate the usefulness of various techniques in different situations and for different purposes.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) Lifelong learning skills

Programme Year Two

In your second year of study, you will build upon your first year modules in microeconomics and macroeconomics and introduce you to the study of econometrics, a key area for anybody working in economics or planning to study economics at postgraduate level. Further modules will be based on your pathway.

Economics pathway

Core modules:

  • Econometrics I (ECON212)
  • Econometrics II (ECON213)
  • Macroeconomics I (ECON223)
  • Macroeconomics II (ECON224)
  • Microeconomics I (ECON221)
  • Microeconomics II (ECON222)

Selected optional modules:

  • Alternative perspectives in economics (ECON250)

or

  • Analysis of big data: programming, data management and visualisation (ECON215)
  • Behavioural economics (ECON251)

or

  • Mathematical economics (ECON211)

or

  • Securities markets (ECON241)

Finance pathway:

Core modules

  • Econometrics I (ECON212)
  • Econometrics II (ECON213)
  • Financial management (ACFI204)
  • Macroeconomics I (ECON223)
  • Macroeconomics II (ECON224)
  • Microeconomics I (ECON221)
  • Microeconomics II (ECON222)

Selected optional modules:

  • Behavioural economics (ECON251)

or

  • Securities markets (ECON241)
  • Mathematical economics (ECON211).

Year Two Compulsory Modules

  • Econometrics 1 (ECON212)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    Econometrics is concerned with the testing of economic theory using real world data. This module introduces the subject by focusing on the principles of Ordinary Least Squares regression analysis. The module will provide practical experience via regular laboratory session.   This module also aims to equip students with the necessary foundations in econometrics to successfully study more advanced modules such as ECON213  Econometrics II, ECON311  Methods of Economic Investigation: Time Series Econometrics and ECON312 Methods of Economic Investigation 2: Microeconometrics.

    Learning Outcomes

    (LO1) Reinforce the  understanding of fundamental principles of statistics, probability and mathematics to be used in the context of econometric analysis

    (LO2) Estimate simple regression models with pen and paper using formulae and with the econometric software EViews7

    (LO3) Understand the assumptions underpinning valid estimation and inference in regression models

    (LO4) Formulate and conduct intervals of confidence and tests of hypotheses

    (LO5) Evaluate the impact that changes in the unit of accounts of variables and changes in the functional form of equations may have upon the results of OLS and their interpretation

    (LO6) Assess the goodness of results by means of appropriate tests and indicators

    (LO7) Assess predictions

    (LO8) Extend analysis to the context of multiple linear regression

    (LO9) Use EViews7 to estimate simple linear regression models  and multiple linear regression models

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) IT skills

  • Microeconomics 1 (ECON221)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    This module, in accordance with Microeconomics 2, aims to provide a solid foundation of intermediate level microeconomic theory. It develops and extends three of the topics introduced in Principles of Microeconomics, namely, Consumer Theory, Producer Theory and General Equilibrium. It prepares the students for the more advanced modules in the second and third year like Microeconomics 2 and Game Theory.

    Learning Outcomes

    (LO1) Students will be able to demonstrate a thorough understanding of the core concepts and models used in consumer theory, producer theory and general equilibrium and an ability to apply these to arange of markets and settings.

    (LO2) Students will be able to think and apply themselves analytically to problems in the above-mentioned topics.

    (LO3) Students will be able to gain problem solving skills using verbal, diagrammatic and mathematical methods to problems in the above topics.

    (LO4) Students will be able to have a critical perspective regarding the assumptions underlying microeconomics models.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Organisational skills

    (S5) communication skills

    (S6) IT skills

    (S7) Lifelong learning skills

  • Macroeconomics I (ECON223)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting60:40
    Aims

    To extend the study of macroeconomic theory to the intermediate level.
    To analyse the classical and Keynesian macroeconomic models, and their policy implications, in order to provide a context for subsequent developments in modern macroeconomics associated with monetarism, new classical and new Keynesian economics.

    Learning Outcomes

    (LO1) Students will be able to understand how employment, output, interest rate and the price level are determined in the classical model

    (LO2) Students will be able to understand the origin of economic growth in the short runand in the long run

    (LO3) Students will be able to understand the effects of fiscal and monetary policies in the IS-LM model

    (LO4) Students will be able to understand the effects of fiscal and monetary policies under different exchange-rate regimes

    (S1) Problem-solving skills

    (S2) Numeracy

    (S3) Organisational skills

    (S4) Communication skills

    (S5) International awareness

    (S6) Lifelong learning skills

  • Econometrics 2 (ECON213)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting60:40
    Aims

    The aims of this module are to build on ECON212 by extending the treatment of regression to the multiple regression model and to develop practical research skills which would be expected from a graduate in Economics either as a foundation for postgraduate study or for work as a professional economist recruited at graduate level.

    Learning Outcomes

    (LO1) Students will be able to explain the assumptions required for OLS multiple regression to be Best Linear Unbiased

    (LO2) Students will be able to explain the problem of multicollinearity, how it is detected and how it can be resolved

    (LO3) Students will be able to conduct single and joint hypothesis tests

    (LO4) Students will be able to test restrictions on coefficients

    (LO5) Students will be able to construct and interpret confidence intervals around estimates and forecasts

    (LO6) Students will be able to propose and implement model building strategies and criteria for evaluating model adequacy

    (LO7) Students will be able to explain, use and interpret dummy variables

    (LO8) Students will be able to explain and implement the generalised method of moments using instrumental variables

    (LO9) Students will be able to conduct independent econometric research and present the results in a professional manner

    (LO10) Students will be able to develop a knowledge of the appropriate quantitative tools used inaddressing real world economic issues.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Teamwork

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) Lifelong learning skills

  • Microeconomics 2 (ECON222)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting70:30
    Aims

    This module, following on from with Microeconomics 1, aims to provide a solid foundation of intermediate level microeconomic theory. 
    The module uses the theoretical foundations developed in the first semester and aims to extend the application of the skills acquired to more advanced topics such as welfare economics.
    This module also aims to prepare students for the more advanced modules in the third year by introducing topics such as asymmetric information and game theory.

    Learning Outcomes

    (LO1) Have a thorough understanding of the core concepts and models used in Welfare Economics, Asymmetric Information, and Game Theory.

    (LO2) To prepare students to think and apply themselves to analyse a range of problems in the three areas mentioned above.

    (LO3) To develop problem solving skills using verbal, diagrammatic and mathematical methods to problems in the above topics.

    (LO4) To deepen a critical perspective regarding the assumptions underlying microeconomics models.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Organisational skills

    (S5) Communication skills

    (S6) Lifelong learning skills

  • Macroeconomics II (ECON224)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting60:40
    Aims

    To further extend the study of macroeconomic theory at the intermediate level by analysing business-cycle fluctuations in closed and open economies using the real business cycle model and also the new Keynesian model that are based on solid microfoundation

    Learning Outcomes

    (LO1) Understand the microfoundation of modern macroeconomic models

    (LO2) Explain the implications of macroeconomic disturbances and fiscalpolicies using the real business cycle model

    (LO3) Contrast the different implications of monetary policies in thereal business cycle model and in the new Keynesian model.

    (LO4) Analyse business cycles in the open economy.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Communication skills

    (S5) IT skills

    (S6) International awareness

    (S7) Lifelong learning skills

    (S8) Ethical awareness

    (S9) Teamwork

    (S10) Organised and able to work under pressure

  • Financial Management (ACFI204)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The module aims to introduce students to the modern theory of finance and financial management. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.

    Learning Outcomes

    (LO1) Facilitate understanding of the main themes of modern financial management.

    (LO2) Equip students with the tools and techniques of financial management.

    (LO3) Enable students to interpret and critically examine financial management issues and controversies.

    (LO4) Provide the necessary knowledge to allow students to progress to studying Business Finance in the third year.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) International awareness

    (S8) Lifelong learning skills

    (S9) Ethical awareness

  • Securities Markets (ECON241)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting75:25
    Aims

    This module seeks to provide an understanding of:
    the role of securities markets in the economy;
    their basic mechanics and technical features;
    the valuation of financial assets;
    the operational and allocative efficiency of the market.

    Learning Outcomes

    (LO1) Appreciate the central role of securities markets in the economy

    (LO2) Understand and apply appropriate economic theory to market organisation

    (LO3) Display an understanding of the usefulness of portfolio theory and the approaches to the valuation of financial assets

    (LO4) Read the financial press and appreciate issues relating to the study of the securities markets

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Teamwork

    (S6) Organisational skills

    (S7) Communication skills

    (S8) IT skills

    (S9) International awareness

    (S10) Lifelong Learning Skills

    (S11) Ethical Awareness

  • Mathematical Economics 2 (ECON211)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting80:20
    Aims

    The aim of this module is to introduce students to the use of mathematical models in the study of Economics
    To build on the material of Year 1 Mathematics and Economics and deepen students' knowledge of mathematical techniques involved in Microeconomics and game theory
    To develop more advanced mathematical skills
    To develop an ability to use models to solve economic problems

    Learning Outcomes

    (LO1) Students will be able to revise univariate calculus.

    (LO2) Students will be able to introduce matrix algebra.

    (LO3) Students will be able to acquire skills with multivariate calculus.

    (LO4) Students will be able to develop study optimisation.

    (LO5) Students will be able to apply these skills to microeconomic problems

    (LO6) Students will be able to apply these skills to macroeconomic problems

    (S1) Problem-solving skills

    (S2) Numeracy

Year Two Optional Modules

  • Alternative Perspectives in Economics (ECON250)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    This module aims to provide a historical and methodological basis for understanding modern economic theory.

    Learning Outcomes

    (LO1) Analyse the philosophical basis for methodology

    (LO2) Differentiate between and analyze the approach to subject matter adopted by the different schools of thought

    (LO3) Demonstrate a knowledge of the context within which different strands of economic thought developed

    (LO4) Evaluate different methodological approaches

    (S1) Communication skills

    (S2) Lifelong learning centre

    (S3) Ethical awareness

  • Analysis of Big Data: Programming, Data Management & VIsualisation (ECON215)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    The module aims to fulfil the needs of two main groups of students:  
    Group 1: Data-intensive careers within economics and related areas increasingly require programming skills. Python is growing in popularity within the economics profession, and is one of the most popular languages within data science. The module should be particularly useful for those students whose future careers focus on relatively sophisticated or large scale data analysis and management in business, finance or economics. An aim of the module is for it to serve as an early introduction to the vast capabilities of Python for data analysis, where students can begin to acquire key skills in the area along with valuable transferable skills in computing.

    Group 2: Research careers in economics or econometrics very often require general programming skills, and, while geared towards data tasks, this module serves as a first introduction to programming.

    Learning Outcomes

    (LO1) Students will become familiar with Python as a tool for data analysis.

    (LO2) Students will become proficient in producing data visualisations using Python.

    (LO3) Students will develop competency with popular Python libraries for data analysis.

    (LO4) Students will become familiar with general programming concepts.

    (S1) IT skills

    (S2) Numeracy

    (S3) Lifelong learning skills

    (S4) Problem solving skills

  • Mathematical Economics 2 (ECON211)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting80:20
    Aims

    The aim of this module is to introduce students to the use of mathematical models in the study of Economics
    To build on the material of Year 1 Mathematics and Economics and deepen students' knowledge of mathematical techniques involved in Microeconomics and game theory
    To develop more advanced mathematical skills
    To develop an ability to use models to solve economic problems

    Learning Outcomes

    (LO1) Students will be able to revise univariate calculus.

    (LO2) Students will be able to introduce matrix algebra.

    (LO3) Students will be able to acquire skills with multivariate calculus.

    (LO4) Students will be able to develop study optimisation.

    (LO5) Students will be able to apply these skills to microeconomic problems

    (LO6) Students will be able to apply these skills to macroeconomic problems

    (S1) Problem-solving skills

    (S2) Numeracy

  • Securities Markets (ECON241)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting75:25
    Aims

    This module seeks to provide an understanding of:
    the role of securities markets in the economy;
    their basic mechanics and technical features;
    the valuation of financial assets;
    the operational and allocative efficiency of the market.

    Learning Outcomes

    (LO1) Appreciate the central role of securities markets in the economy

    (LO2) Understand and apply appropriate economic theory to market organisation

    (LO3) Display an understanding of the usefulness of portfolio theory and the approaches to the valuation of financial assets

    (LO4) Read the financial press and appreciate issues relating to the study of the securities markets

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Teamwork

    (S6) Organisational skills

    (S7) Communication skills

    (S8) IT skills

    (S9) International awareness

    (S10) Lifelong Learning Skills

    (S11) Ethical Awareness

  • Behavioural Economics (ECON251)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting70:30
    Aims

    This module aims to:

    Introduce students to behavioural economics, its methods and its perspectives;

    Provide an overview of some the main contributions which behavioural economics has made to economics as a social science;

    Highlight areas where fundamental assumptions underlying economic theory have evolved in the light of behavioural economic research;

    Raise awareness of related areas of development in economic theory;

    Prepare students for the study of more technical modules in behavioural or experimental analysis.

    Learning Outcomes

    (LO1) Students will be able to gain an overview of Behavioural Economics and how it relates to traditional economic analysis.

    (LO2) Students will be able to independently study primary research contributions in Behavioural Economics.

    (LO3) Students will be able to engage in further study in related fields such as behavioural finance and experimental economics

    (LO4) Students will be able to critically evaluate the axioms on which mainstream economic approaches are based as well as the suggested alternatives.

    (LO5) Students will be able to gain an understanding of the international policy contexts of the application of behavioural theories.

    (LO6) Students will be able to understand the effect of moral philosophy (ethics) on economic decisions - particularly in the implications of social preferences.

    (S1) Problem solving skills

    (S2) Communication skills

    (S3) Lifelong learning skills

    (S4) Ethical awareness

  • Financial Management (ACFI204)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The module aims to introduce students to the modern theory of finance and financial management. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.

    Learning Outcomes

    (LO1) Facilitate understanding of the main themes of modern financial management.

    (LO2) Equip students with the tools and techniques of financial management.

    (LO3) Enable students to interpret and critically examine financial management issues and controversies.

    (LO4) Provide the necessary knowledge to allow students to progress to studying Business Finance in the third year.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) International awareness

    (S8) Lifelong learning skills

    (S9) Ethical awareness

Programme Year Three

In your final year you will take more advanced economics modules and have the opportunity to apply what you have studied to contemporary issues. You can also choose from a range of optional modules, strongly supported by the topical research carried out by our academics, so you can specialise in the areas that are of the greatest interest to you and your future aspirations.

Upon successful completion of your final year, you will have a thorough understanding of a wide range of theoretical tools used in economics and where applicable, in finance. You will also be familiar with the analytical and quantitative tools used in addressing real world economic issues, and, where applicable, issues related to securities and business finance.

Economics pathway

Core modules:

  • Advanced microeconomics (ECON342)
  • Advanced macroeconomics (ECON343)

or

  • Applied international macroeconomics (ECON346)

Selected optional modules:

  • Behavioural finance (ACFI311)
  • Creative sector economics (ECON362)
  • Economic growth and innovation (ECON363)
  • Economics of banking (ECON323)
  • Financial crises and defaults (ACFI319)
  • Financial economics (ECON308)
  • Game theoretical approaches to microeconomics (ECON322)
  • Industrial organisation (ECON333)
  • International trade (ECON335)
  • Issues in development finance (ACFI317)
  • Law and economics (ECON360)
  • Methods of economic investigation: microeconometrics (ECON312)
  • Methods of economic investigation: time series econometrics (ECON311)
  • The economics of developing countries (ECON306)

Finance pathway

Core modules:

  • Advanced macroeconomics (ECON343)

or

  • Applied international macroeconomics (ECON346)
  • Advanced microeconomics (ECON342)
  • Business finance (ACFI304)
  • Financial risk management (ACFI342)


Selected optional modules:

  • Behavioural finance (ACFI311)
  • Capital markets (ACFI321)
  • Creative sector economics (ECON362)
  • Derivative securities (ACFI310)
  • Economic growth and innovation (ECON363)
  • Economics of banking (ECON323)
  • Financial crises and defaults (ACFI319)
  • Financial economics (ECON308)
  • Football financial reporting, analysis and valuation (ACFI322)
  • Game theoretical approaches to microeconomics (ECON322)
  • Industrial organisation (ECON333)
  • International trade (ECON335)
  • Issues in development finance (ACFI317)
  • Law and economics (ECON360)
  • Methods of economic investigation: microeconometrics (ECON312)
  • Methods of economic investigation: time series econometrics (ECON311)
  • The economics of developing countries (ECON306)
  • Economic Policy (ECON330)

Year Three Compulsory Modules

  • Advanced Microeconomics (ECON342)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to provide an understanding of the market failure resulting from asymmetric information. The course covers some of the canonical models of adverse selection and moral hazard focussing on the design of optimal contracts under informational asymmetries.

    Learning Outcomes

    (LO1) Solve simple economic models

    (LO2) Understand underlying assumptions

    (LO3) Understand theorems and key proofs

    (LO4) Predict the choices of economic agents

    (S1) problem solving skills

    (S2) numeracy

    (S3) Communication skills

  • Business Finance (ACFI304)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting80:20
    Aims

    To provide students with a fundamental understanding of the core theoretical and empirical aspects involved in corporate finance. The course aims to build transferrable skills of students by concentrating on the fundamental theoretical and empirical principles.

    Learning Outcomes

    (LO1) Understand the principles of bonds and stocks valuation.

    (LO2) Assessment of the term structure of interest rates

    (LO3) Develop understanding of emperical and theoretical aspects of capital budgeting under uncertainty, market efficiency

    (LO4) Understand portfolio theory, asset pricing models (CAPM,APT), and portfolio management.

    (LO5) Develop understanding of issues involved in Capital Structure and Dividend policy .

    (LO6) Understand the principles and practices involved in leasing, mergers and acquisitions

    (LO7) Understand the functions and valuation principle of options, futures, warrants and convertibles.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Communication skills

  • Financial Risk Management (ACFI342)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The module builds on the foundations of the existing finance modules and aims to give students a solid grounding in terms of understanding the recent global financial crisis and a wide range of risk management tools available to financial managers. Particular emphasis is placed on the issue of risk measurement. The following types of risk will be analysed extensively: Interest rate risk Market risk Credit risk Liquidity risk Capital adequacy Sovereign risk The class is run as a discussion based forum.

    Learning Outcomes

    (LO1) Students will be able to understand how risk management contributes to value creation

    (LO2) Students will be able to understand how the global market for credit operates

    (LO3) Students will be able to explain the causes of the recent global credit crisis

    (LO4) Students will be able to overview the risks facing a modern corporation

    (LO5) Students will be able to analyse the effects of interest rate volatility on risk exposure

    (LO6) Students will be able to examine market risk, which results when companies actively trade bonds, equities and other securities

    (LO7) Students will be able to examine how credit risk adversely impacts a financial institution’s profits

    (LO8) Students will be able to analyse the problems created by liquidity risk

    (LO9) Students will be able to become familiar with the concept of capital adequacy and also with the Basel Accords

    (LO10) Students will be able to examine several aspects of sovereign lending and the underlying risks

    (S1) Adaptability

    (S2) Numeracy

    (S3) Problem solving skills

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Advanced Macroeconomics (ECON343)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    To further develop understanding of macroeconomic theory, where appropriate, to integrate the theory with issues of current policy interest.
    To further develop students' analytical and problem solving abilities applied to economic principles

    Learning Outcomes

    (LO1) Acquire advanced knowledge and understanding of contemporary macroeconomic

    (LO2) Be able to critically appraise the relevant theory and evidence

    (LO3) Apply macroeconomic theory to analyse macroeconomic developments and evaluate their implications

    (LO4) Apply macroeconomic theory to analyse policy implications

    (LO5) Further develop their mathematical and analytical skills as applied in modern economics

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Teamwork

    (S4) Adaptability

    (S5) Lifelong Learning Skills

  • Applied International Macroeconomics (ECON346)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to encourage critical reflection in combination with formal modelling skills applied to macroeconomic models and in the context of international interaction.

    Learning Outcomes

    (LO1) Students will be able to provide advancedinterpretations combining macroeconomic economic theory in aglobal economic context and reflect critically on the models employed.

    (LO2) Students will be able to demonstrate knowledgeand understanding of exchange rate régimes and of how they relate to thebalance of payments and the scope for policy design.

    (LO3) Students will demonstrate a representativeawareness and an advanced understanding ofrecent, current and defining historic currency crises.

    (LO4) Students will be able to relate parityconditions to economic analysis tasks in diverse model contexts.

    (LO5) Students will be able to identify how andwhere to source key data for international comparisons and relate them toformal model representations.

    (S1) Problem solving skills

    (S2) International awareness

    (S3) Lifelong learning skills

Year Three Optional Modules

  • Behavioural Finance (ACFI311)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    Provide students with knowledge and understanding of theoretical and empirical limitations of and challenges to the efficient markets hypothesis;

    Present the psychological foundations of Behavioural Finance and how they impact upon investors’ rationality and arbitrage;

    Provide the opportunity for students to critically evaluate behaviourally induced market puzzles;

    Present key behavioural trading patterns from a theoretical perspective and outline their empirical design.

    Learning Outcomes

    (LO1) Understand the key concepts and issues in behavioural finance

    (LO2) Possess a good command of the key theoretical and empirical literature in behavioural finance

    (LO3) Have practiced skills of problem-solving and critical thinking

    (LO4) Be familiar with the main implications (theoretical and empirical) of Behavioural Finance findings

    (LO5) Construct and present critical evaluations of key academic papers in Behavioural Finance

    (LO6) Development of key skills in terms of writtencommunication (eg by completing formative class questions and assignment;through a summative assignment and examination)

    (LO7) Developmentof key skills in oral presentation (eg through group work)

    (LO8) Development of key skills in terms of class participation

    (LO9) Development of key skills in terms of planning and time-management (eg preparing for classes; observing assignment deadlines),problem-solving, critical thinking and analysis, numeracy (eg by applyingtheir extant quantitative knowledge in understanding behavioural financeissues) and initiative (eg searching relevant literature and information inpreparation of seminars and summative assignment)

    (S1) Teamwork

    (S2) Organisational skills

    (S3) Communication skills

    (S4) IT skills

    (S5) International awareness

    (S6) Lifelong learning skills

    (S7) Ethical awareness

  • Creative Sector Economics (ECON362)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting50:50
    Aims

    To provide an historical and methodological basis for understanding the economics of Arts & Cultural industries.
    To explore the application of economic theory in ‘non-standard’ markets, i.e. markets where neoclassical microeconomic assumptions may not hold .
    To microeconomically analyze major creative industries sectors such as fine arts, music, publishing, broadcasting, cinema & arts festivals

    Learning Outcomes

    (LO1) Students will be able to demonstrate a knowledge of and theoretical basis for the economic characteristics of the creative sector.

    (LO2) Students will be able to demonstrate a knowledge of the history and context within which different strands of economic thought developed.

    (LO3) Students will be able to demonstrate a knowledge of the philosophical basis for methodology and evaluate different methodological approaches within the discipline.

    (LO4) Students will be able to demonstrate a knowledge of the size, make-up and economic importance of the creative sector in the UK and internationally.

    (LO5) Students will be able to demonstrate a knowledge of how economic theories are extended beyond their neo-classical assumptions.

    (LO6) Students will be able to develop skills of independent research, thinking and writing through coursework.

    (LO7) Students will be able to demonstrate skills of construction of argument in essay form developed through coursework.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) International awareness

    (S8) Lifelong learning skills

  • Economic Growth and Innovation (ECON363)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module will cover selected topics in economic growth and innovation. It will build on the intermediate macroeconomics curriculum by developing some formal models of economic growth. The module will give students a firm appreciation of modern developments in the theory of economic growth and of the strengths and limitations of these and older models.   Students will gain an understanding of a range of more complex influences on growth.   Students will gain an insight into a range of policy approaches governments might take to improve growth.

    Learning Outcomes

    (LO1) Students will be able to identify and evaluate general equilibrium models.

    (LO2) Students will be able to proficiently apply dynamic general equilibrium models.

    (LO3) Students will be able to discuss theoretical models of economic growth and their policy implications.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Communication skills

    (S5) IT skills

    (S6) International awareness

    (S7) Lifelong learning skills

    (S8) Ethical awareness

  • Economics of Banking (ECON323)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The module provides an introduction to the economic principles of banking.

    Students are provided with an understanding of the specific nature of a bank as a firm, the role of banks in an economy, and of the regulatory environment in which banks operate.
    Learning Outcomes

    With the completion of the module, students should be able to:

    • understand the role and characteristics of banks in an economy
    • explain a balance sheet and the income statement of a bank and analyse how these are affected by specific activities of a bank;
    • understand the main risks (e.g. credit, liquidity, interest rate) that banks face
    • explain how banks measure and manage these risks
    • describe why and how banks are regulated
  • Financial Crises and Defaults (ACFI319)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to provide students with a fundamental understanding of the core theoretical and empirical aspects involved in financial crises and defaults. In particular, the aims are that students will be able to:
    1. Become familiar with a range of mathematical techniques commonly employed in finance with particular emphasis on sovereign debt valuation .
    2. Develop an understanding of the main factors behind financial crises and sovereign defaults.
    3. Become familiar with a range of econometric techniques and models commonly used in order to assess whether asset prices become mispriced (that is, overvalued or undervalued) prior, during and after financial crises.
    4. Become aware that all econometric models, which are dependent on a set of underlying assumptions such as a linear versus a non-linear specification or the conditioning information set (in terms of defining the so-called ‘control’ variables), have limitations in the sense that the answer to a particular problem might change once the underlying assumptions change.

    Learning Outcomes

    (LO1) Students will be able to understand the principles of sovereign debt evaluation.

    (LO2) Students will be able to understand how credit-rating agencies assign credit-rating scores to sovereign bonds.

    (LO3) Students will be able to develop a deep understanding of economic and financial factors that trigger financial crises and sovereign defaults.

    (LO4) Students will be able to develop the ability to analyse and evaluate economic data in order to empirically assess (using econometric software EVIEWS) whether excessive debt levels impact negatively on economic growth.

    (LO5) Students will be able to develop the ability to analyse and evaluate economic and financial data in order to empirically assess (using the econometric software EVIEWS) whether asset prices are mispriced prior, during and after financial crises.

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Communication Skills

  • Quantitative Financial Economics (ECON308)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module provides a thorough overview of financial economics, starting from the decision-making under uncertainty and applying these concepts to optimal portfolio choice by the consumer, optimal investment by the firm, pricing contingent claims, term structure of interest rates and real option analysis.  In addition to standard asset pricing models, the efficient capital markets theory will be extensively  covered.

    Learning Outcomes

    (LO1) Students will be able to understand the role of capital markets

    (LO2) Students will be able to use capital budgeting techniques

    (LO3) Students will be able to understand and measure risk aversion

    (LO4) Students will be able to calculate the optimal portfolio between two risky assets

    (LO5) Students will be able to forecast asset return and volatility based on historical data

    (LO6) Students will be able to forecast asset return and volatility based on historical data

    (LO7) Students will be able to understand and use futures and forward contracts

    (LO8) Students will be able to understand and be able to use options

    (S1) Problem-solving skills

    (S2) Numeracy

  • Game Theoretical Approaches to Microeconomics (ECON322)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The objective of the module is to provide an introduction to game theory. This is the study of strategic interactions ie situations where outcomes depend not only on our own actions but also how others react to our actions. This module complements those in core macro and microeconomics and offers more insight into strategic decisions and competetive behaviour in general.

    Learning Outcomes

    (LO1) Distinguish between types of games

    (LO2) Explain game theoretical concepts

    (LO3) Conduct advanced microeconomic analysis by formulating a game and its associated solution concepts and deriving solutions to games

    (LO4) Apply games in a range of economic, business and social contexts

    (LO5) Explain the importance of game theoretic approaches in economic analysis

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Teamwork

    (S5) Organisational Skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Industrial Organisation (ECON333)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting50:50
    Aims

    To apply the tools of microeconomics to the analysis of firms, markets and industries in order to understand the nature and consequences of the process of competition. These tools will also be applied to the evaluation of relevant government policy.  This will extend knowledge and skills of microeconomic analysis by covering recent advances in theory as well as empirical analysis of relevant microeconomic topics.

    Learning Outcomes

    (LO1) Students will be able to use economic principles, concepts and techniques to discuss and analyse government policy and economic performance with reference to standard frameworks in Industrial Organisation.

    (LO2) Students will be able to apply standard frameworks, including verbal, graphical, mathematical and statistical representations of economic concepts and models, to explain and evaluate the effects of a range of competitive behaviours by firms and how they are influenced by economic incentives and the ethical issues enveloped within this.

    (LO3) Students will be able to analyse current issues and problems in business and industry from domestic, international and cross-border perspectives.

    (LO4) Students will be able to compare, contrast and critically evaluate alternative schools of thought in Industrial Organisation with reference to empirical evidence.

    (LO5) Students will be able to conduct competent applied economic research by locating, selecting and analysing information relevant to the study of Industrial Organisation from domestic and global perspectives.

    (LO6) Students will be able to communicate effectively in writing and in accordance with a report specification

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Communication skills

    (S5) IT skills

    (S6) Ethical awareness

  • International Trade (ECON335)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting60:40
    Aims

    To develop an appreciation and understanding of basic principles determining the observed patterns of trade in the increasingly globalised world economy.

    Learning Outcomes

    (LO1) Students will be able to understand the role of both absolute and comparative advantage in explaining observed patterns of trade in the global economy

    (LO2) Students will be able to recognise both the strengths and limitations of the basic Ricardian approach and the Hecksher-Ohlin Theory of trade.

    (LO3) Students will be able to critically evaluate the roles, achievements and failures of various international institutions in the context of international economic performance.

    (LO4) Students will be able to critically understand and approach trade based on increasing returns to scale

    (LO5) Students will be able to recognise the implications of different types of trade barriers and why countries protect.

    (LO6) Students will develop a critical understanding of the importance and implications of different levels of economic integration in the context of NAFTA and the EU.

    (LO7) Students will be able to critically evaluate trade-oriented growth strategies for less developed economies.

    (S1) Problem solving skills

    (S2) Teamwork

    (S3) Organisational skills

    (S4) Communication skills

    (S5) IT skills

    (S6) International awareness

  • Issues in Development Finance (ACFI317)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    This module will provide an advanced, albeit non-technical, critical understanding for students with a variety of academic backgrounds of the issues and developments in the area of finance for development. This will include, for example, the impact of overseas development assistance (foreign aid) and foreign direct investment upon development, the role played by the IMF and World Bank and recent developments in the areas of microfinance and Islamic Finance.

    Learning Outcomes

    (LO1) Students will be able to understand the fundamental principles and concepts of finance and their application and relevance in the context of development and development finance.

    (LO2) Students will be able to develop a deeper understanding of the financial problems and constraints faced by individuals, households, firms and financial institutions in the context of developing countries.

    (LO3) Students will be able to critically evaluate the impact of different sources of finance such as foreign aid, FDI and microfinance.

    (LO4) Students will be able to critically evaluate financial issues in a clear international context.

    (LO5) Students will be able to develop a critical awareness of the ethical issues involved in financial decisions and topics covered in the module

    (S1) Communication skills

    (S2) IT skills

    (S3) International Awareness

    (S4) Ethical Awareness

  • Law and Economics (ECON360)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting60:40
    Aims

    This course does not require prior knowledge of the law, nor is its objective to teach students about the law. The main objective is to show students how they can apply the tools of economic analysis to understand the basic structure and function of the law. The course focuses on the core common law areas of torts, contracts, and property, along with a discussion of the litigation process, the economics of crime, and antitrust law.

    Learning Outcomes

    (LO1) Students will be able to understand the use of economics to analyse the law

    (LO2) Students will be able to understand the importance of the law in economics

    (LO3) Students will be able to understand the use of model in law and economics

    (LO4) Students will be able to develop the ability to do a positive analysis of liability rules

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Communication skills

    (S4) Lifelong learning skills

  • Methods of Economic Investigation 2: Microeconometrics (ECON312)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The module is designed to give students an introduction to the key advanced techniques in microeconometrics, building on second year work in econometrics. The module will develop applied research skills, including the ability to collect and analyse data using appropriate econometric techniques and bespoke software. The module will equip students for study at leading graduate schools of Economics and for work as professional economists/business analysts.

    Learning Outcomes

    (LO1) Explain the nature of and rationale for key techniques in microeconometrics

    (LO2) Select and apply key microeconometrics techniques using appropriate econometric software

    (LO3) Interpret and appraise econometric results arising from the application of key microeconometric techniques

    (LO4) Conduct independent applied economic research

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Teamwork

    (S4) Organisational skills

    (S5) IT skills

    (S6) lifelong learning skills

  • Methods of Economic Investigation 1: Time Series Econometrics (ECON311)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The aim of this module is to give students an understanding of econometric time series methodology. The module will build upon the materials of ECON212 Basic Econometrics. Important extensions include volatility models of financial time series and multivariate (multiple equations) models such as vector error correction and related cointegrating error correction models.

    Learning Outcomes

    (LO1) Specify and demonstratethe distributional characteristics of a range of time series models

    (LO2) Estimate appropriate models for financial andeconomic time series for the purposes of forecasting andinference

    (LO3) Understand a range ofunivariate and multivariate models of financial and economic time series processes.

    (LO4) Applyunivariate and multivariate model selection and evaluation methods

    (LO5) Understand theimplications of conditional heteroskedasticity, unit roots and    cointegration in economic andfinancial time series analysis

    (S1) Problem solving skills

    (S2) Numeracy

  • The Economics of Developing Countries (ECON306)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to introduce students to the theoretical perspectives andempirical debates within development economics and impart an in-depthappreciation of the issues related to economic development and its determinantsin less developed countries.

    Learning Outcomes

    (LO1) To understand the nature and determinants of economic development in the LDCs;

    (LO2) To recognise both the strengths andlimitations of various alternative models of the development process

    (LO3) To understand the determinants ofeconomic welfare in LDCs

    (LO4) To recognise the implications fordeveloping countries of international exchange, trade liberalisation andglobalisation

    (LO5) To appreciate the relationships betweenglobalisation and economic performance in low and middle income economies

    (LO6) To critically evaluate the roles,achievements and failures of various international policy initiatives in thecontext of developing country measured economic performance and domesticeconomic welfare.

    (S1) Problem solving skills

    (S2) Teamwork

    (S3) Organisational skills

    (S4) Communication skills

    (S5) International awareness

    (S6) Lifelong learning skills

    (S7) Ethical awareness

  • Capital Markets (ACFI321)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    Capital Markets provides a comprehensive introduction to the workings of modern financial systems, the efficiency of money markets and the role of investment bankers, illustrating how they impact our financial system. By drawing on numerous theoretical and practical examples from real-world case studies, this module aims at introducing the basic concepts of the banking, finance, investment, business studies, economics and financial service sector to the third year undergraduate students.

    Learning Outcomes

    (LO1) Traditional capital markets might be described simply as the meeting place where providers and users of capital interact through the medium of money or its proxies. Today’s capital markets in Europe and America continue with the above basic function and have become increasingly more sophisticated to serve the needs of an array of specialized investment sources including private equity funds, hedge funds, sovereign wealth funds. Meeting these specialized needs has entailed the rapid development of new financial products and resulted in highly-rewarding new roles for finance industry professionals. To aid in the analysis and sale of these new products, computers handle vast databases of market data while accompanying analytics support decision-making in a financial world approaching information overload.

    (LO2) The course objective is to present the current capital markets with a blend of the theoretical with the practical. Our examination will extend beyond the traditional financial products, equity and debt instruments, to recent innovations. Until the summer of 2007, capital markets had experienced spectacular growth via a proliferation of new products. In keeping with classic economic theory, the investment rewards of products such as securitization were inevitably accompanied by risks as recent events brought to light. New products like asset-backed securities and Electronic Traded Funds will be reviewed and identified by investor profile and investment rationale.

    (LO3) The context in which our course develops will be the dramatic events unfolding from mid-2007 to the present. The conceptual bases and investment metrics employed by market participants will be examined in depth. Theories of risk v. return and those for interest rates will be reviewed. Data sources, key market indexes and investment performance measures will be identified. The common analytical techniques will be discussed along with the role of equity analysts and also that of major credit rating agencies.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Commercial awareness

    (S4) Communication skills

    (S5) Lifelong learning skills

    (S6) Ethical awareness

  • Derivative Securities (ACFI310)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This course provides an introduction to derivative securities. Alternative derivative securities like forwards, futures, options, and exotic derivative contracts will be discussed. This incorporates detailing the properties of these securities.

    Furthermore, a key aim is to outline how these assets are valued.   Also the course demonstrates the use of derivatives in arbitrage, hedging and speculation. Finally, practical applications of derivatives and potential pitfalls are discussed.

    The class is run as a discussion based forum and students are expected to read all necessary materials prior to each session.

    Learning Outcomes

    (LO1) Students will be able to describe the principles of option pricing.

    (LO2) Students will be able to compare and contrast alternative fair valuation techniques for pricing derivative instruments.

    (LO3) Students will be able to explain the biases in option pricing models.

    (LO4) Students will be able to apply an appropriate pricing model to a variety of contingent claim securities.

    (LO5) Students will be able to recognize the trading strategy appropriate to expected future market conditions.

    (LO6) Students will be able to derive and apply evolving models of derivative options to effectively manage risk transfer and assess their behaviour in the face of volatile financial and economic conditions.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Teamwork

    (S6) Organisational skills

    (S7) Communication skills

    (S8) IT skills

    (S9) International awareness

    (S10) Lifelong learning skills

    (S11) Ethical awareness

  • Football Financial Reporting, Analysis and Valuation (ACFI322)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting50:50
    Aims

    This module aims to give students to develop an understanding of how financial transactions have an impact on football clubs, and the integration of finance into the success or otherwise of clubs. The module will attract students with an interest in the sport and provide them with an insight into how financial metrics in relation to clubs can be produced, and the valuation techniques used by investors when buying and selling clubs.

    Learning Outcomes

    (LO1) Students will be able to explain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board's (IASB) conceptual framework for financial reporting in relation to incorporated football clubs.

    (LO2) Students will be able to prepare and present financial statements from business transactions for football clubs in corporate forms, in conformity with International Financial Reporting Standards (IFRS) and explain the application of IFRS to specified scenarios.

    (LO3) Students will be able to measure the value of a football club using appropriate valuation methods.

    (LO4) Students will be able to understand and apply football financial fair play rules, and the ethical responsibilities of clubs in adhering to these rules.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) IT skills

    (S6) International awareness

    (S7) Lifelong learning skills

    (S8) Ethical awareness

  • Contemporary Issues in Economic Policy (ECON330)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    This module aims to give students a factual and theoretical basis to understand and critically evaluate possible responses to the key contemporary challenges faced by policy makers in the United Kingdom.
    The module seeks to enable students to apply theoretical economic concepts to real problems in the areas of social housing, health, education, transport and environment. The module also covers the present and future challenges presented by Brexit and the recent financial crisis to policy makers.

    Learning Outcomes

    (LO1) Students will be able to identify and explain policy responses to contemporary challenges.

    (LO2) Students will be able to understand the fundamental principles and concepts of economics and their application and relevance in the context of contemporary challenges like the financial crisis, Brexit, environmental and transport policy and in key areas of public provision such as health, education and housing.

    (LO3) Students will be able to explain economic concepts such as quasi-markets and market failures and their application in relevant areas.

    (LO4) Students will be able to conduct independent research using relevant secondary sources including economic data.

    (LO5) Students will be able to critically evaluate the issues covered in the module in a clear international context.

    (LO6) Students will be able to develop a critical awareness of the ethical dilemmas and ethical issues involved in the policy responses to the contemporary challenges covered in the module.

    (S1) Problem solving skills

    (S2) Communication skills

    (S3) IT skills

    (S4) International awareness

The programme detail and modules listed are illustrative only and subject to change.


Teaching and Learning

The principal forms of teaching are lectures and seminars. Lectures will normally be supported by material such as hand-outs and presentations.
Seminars give the opportunity for detailed discussion of a topic under the direction of a tutor. You are normally expected to prepare work in advance for seminars and may be expected to present work or give presentations from time to time. On some modules, such as quantitative techniques and IT, seminars may take the form of practical sessions using our PC suites.

All our degrees depend on you spending a good part of the week in private or group study in preparation for lectures and seminars. This involves making extensive use of the excellent library and IT facilities, just one minute’s walk away from the Management School.


Assessment

You will be assessed through a combination of coursework and examinations. The exact weighting will vary from one module to another. As well as individual assignments and exams, you may also be assessed on group reports and presentations.