Economics

Macroeconomics is a major branch of economic science that studies issues and problems at the level of the national and international economy. This module introduces students to the key fundamental principles of Macroeconomics and covers: technical language, concepts and fundamental methodologies. Topics covered include: modelling, price theory, balance of payments, imports and exports, national income, unemployment, inflation, multiplier-effect, consumption, aggregate demand and supply, and government macroeconomic policy. Where relevant, alternative economic approaches will be identified and considered. Real-world data and case studies will be used to reinforce learning and insight. The module will assess the impact of economic growth on externalities using indicators from the Sustainable Development Goals (SDG-8 Decent Work and Economic Growth). The circular economy, the blue and green economy, climate change and resource depletion will be considered with reference to ecological economics.

Microeconomics is a major branch of economic science that studies the behaviour of individuals in making decisions as buyers, sellers, business owners and government. This module introduces students to the key fundamental ideas of Microeconomics and covers the principles, technical language, concepts and fundamental methodologies. This includes the utilization and distribution of limited or scarce resources in the creation, production, supply and consumption of goods and services to meet demands. Where relevant, alternative economic approaches will be identified and considered. Real world data and case studies will be used to reinforce learning and insight. Students will be supported in tutorial seminars to build numeric competency through exercises using economic and business mathematics and statistics.

This introductory mathematical module focuses on developing the essential quantitative skills that are used in the theoretical and applied economics. This will include those concepts from mathematics, algebra and calculus that are commonly employed in microeconomics and macroeconomics. It will also include coverage of the descriptive and inferential statistical concepts that are used in applied economics. The module will focus on developing student understanding of these concepts, and their ability to use these mathematical concepts in practice, when they engage with economic theory and applications.

This module aims to introduce the core concepts and key topics areas of business finance and financial environment. It will enable students to develop knowledge and understanding of how the financial markets operate, evaluate alternative sources of finance available to a business, analyse the cost of different sources of finance used by a company and the weighted average cost of capital. Students will also learn how to apply the cost of capital in the investment appraisal process and evaluate the investment projects using the main investment appraisal methods.

The provision and analysis of financial and operating information is a specialised service function primarily involving the collection, storage and recording of financial and operating data, its conversion to useful information and the effective communication of this information. This information assists management in a complex and dynamic business environment to make optimal business decisions.

This module is an overall assessment module which requires students to demonstrate the Economics Programme level learning outcomes at Level 4 and confirm Level 4 module learning outcomes in the context of an integrated assessment.

The module builds on the concepts and models developed in the Level 4 Macroeconomics module. Students continue to build competency in macroeconomics using empirical data, statistics, policy analysis and macroeconomic theory. The module will encourage students to understand monetary and fiscal policy, economic growth and growth models, business cycles, Sustainable Development Goals and economic policy, global financial markets, technology and employment, game-theory, currency index and foreign exchange markets, digital economies, stock exchanges and the role of money and liquidity in the world economy.

The module builds on the concepts and models developed in the Level 4 Microeconomics module. Students continue to build competency in microeconomics using empirical data, statistics, policy analysis and microeconomic theory. The module will encourage students to understand the underlying behaviour of economic markets and financial systems in the context of uncertainty and risk.

This module focuses on the applied quantitative techniques which constitute the core of econometric theory and applications. It will focus on regression analysis, focussing on its essential theoretical background, and an emphasis on applied analysis. Students will develop the skills to conduct basic independent research, using appropriate information technology for applied econometric analysis, and evaluating and communicating the results of their work.

The module is designed to enhance students’ conceptual understanding of current research and developments within the accounting and/or economics discipline(s) and to develop their capacity for independent critical thinking and self-managed learning. The module provides students with an appreciation of the issues involved in developing a research project, to enhance their understanding of published research and how to critique it, and to enable them to design, justify and defend their own research inquiry.

In this module students will have the opportunity to engage critically with the history of economic thought through studying the ideas and major works of a range of the discipline’s pioneers. Students will be expected to develop an understanding of the context in which economic modes of analysis were established and to be able to evaluate the extent to which these theories are still applicable to modern day economic systems and contemporary problems. The thinkers engaged with in the module might include Adam Smith, Karl Marx, John Maynard Keynes, Friedrich Hayek and Milton Friedman.

• Data Analysis - 15 Credits

The aim of this module is to offer students the opportunity to undertake a meaningful and relevant employment experience. The employment experience will take the form of a work placement of approximately 30 weeks (to include a minimum of 1,050 hours work) in a role that is relevant to the named route of study. The employment experience will involve the student demonstrating competence in key professional skills, such as communication and team working, and tasks relevant to their field of study. This will necessarily require the student to apply learning from their studies to the work place, thus providing the opportunity to fully integrate their academic study with meaningful employment experience.

This module is taken between Level 5 and Level 6 of the course.

The module builds on the concepts and models developed in the Level 4 Macroeconomics module. Students continue to build competency in macroeconomics using empirical data, statistics, policy analysis and macroeconomic theory. The module will encourage students to understand monetary and fiscal policy, economic growth and growth models, business cycles, Sustainable Development Goals and economic policy, global financial markets, technology and employment, game-theory, currency index and foreign exchange markets, digital economies, stock exchanges and the role of money and liquidity in the world economy.

The module builds on the concepts and models developed in the Level 4 Microeconomics module. Students continue to build competency in microeconomics using empirical data, statistics, policy analysis and microeconomic theory. The module will encourage students to understand the underlying behaviour of economic markets and financial systems in the context of uncertainty and risk.

This module focuses on the applied quantitative techniques which constitute the core of econometric theory and applications. It will focus on regression analysis, focussing on its essential theoretical background, and an emphasis on applied analysis. Students will develop the skills to conduct basic independent research, using appropriate information technology for applied econometric analysis, and evaluating and communicating the results of their work.

The module is designed to enhance students’ conceptual understanding of current research and developments within the accounting and/or economics discipline(s) and to develop their capacity for independent critical thinking and self-managed learning. The module provides students with an appreciation of the issues involved in developing a research project, to enhance their understanding of published research and how to critique it, and to enable them to design, justify and defend their own research inquiry.

In this module students will have the opportunity to engage critically with the history of economic thought through studying the ideas and major works of a range of the discipline’s pioneers. Students will be expected to develop an understanding of the context in which economic modes of analysis were established and to be able to evaluate the extent to which these theories are still applicable to modern day economic systems and contemporary problems. The thinkers engaged with in the module might include Adam Smith, Karl Marx, John Maynard Keynes, Friedrich Hayek and Milton Friedman.

• Data Analysis - 15 Credits

The aim of this module is to offer students the opportunity to undertake a meaningful and relevant employment experience. The employment experience will take the form of a work placement of approximately 30 weeks (to include a minimum of 1,050 hours work) in a role that is relevant to the named route of study. The employment experience will involve the student demonstrating competence in key professional skills, such as communication and team working, and tasks relevant to their field of study. This will necessarily require the student to apply learning from their studies to the work place, thus providing the opportunity to fully integrate their academic study with meaningful employment experience.

This module is taken between Level 5 and Level 6 of the course.

The aim of this module is to offer students to opportunity to undertake meaningful and relevant employment experience.   The employment experience will take the form of a 30 week long work placement and the student will be required to demonstrate the relevance of the work practice to the named route of study.  The employment experience will involve students’ demonstrating competency in key skills, such as communication and team working, and tasks relevant to their field of study.  This will necessarily require the student to apply learning from their studies to the work place, thus providing the opportunity to fully integrate their academic study with meaningful employment experience.

The module will cover advanced topics in macroeconomics. This includes studies in international economics, financial engineering (hedge funds, derivatives and currency swaps) and a critical appraisal of forecasting techniques. The content of the module will cover economic welfare, trade cycles and sustainable growth. The module will encourage critical thinking, logic and reflection in assessing experimental and behavioural economics, and techniques for exploring issues such as ethics, responsible management and professional codes of practice. Macroeconomic theory will be used to critically consider issues such as orthodoxy versus heterodoxy. Statistics, numeric competency, models in macroeconomics and graphs will be prevalent in the module – this will include materials on GDP, measuring national income and output, and assessing money supply and policy.  Topics such as governance and law will be linked to macroeconomic frameworks, regulation and compliance.

This module presents a wide range of topics about economic development. This will include conceptual questions, such as the different theories of economic growth, but also the key empirical issues that are relevant to the reality of developing countries, such as the role of institutions, agriculture, finance and trade in promoting economic progress. The module will explore these issues with a range of theoretical perspectives, as well as highlight the key policy debates. The overall goal is for students to engage critically with the field of development economics to be able to answer the key issues that are relevant for the historical and contemporary reality of developing countries. The module requires a degree of familiarity with basic economic concepts.

Applying knowledge, skills and understanding developed in previous study modules, this advanced module will consider the wider aspects of contemporary microeconomic challenges.   The modules will cover growth, scarcity, change, stability, social choice and long term impacts in the context of the economic challenges described by the Economic World Forum. Students’ work will be based on real world economic and financial data, and case studies. At the end of the module, students will be able evaluate critically the microeconomic challenges in the context of global social responsibility; and explain the impact of microeconomic challenges at UK National, European Regional and Global levels.

Economic and financial activities are products of human behaviour. Therefore, these activities are subject to the range of factors which influence predictable and unpredictable human behaviour. The purpose of this module is to develop a well-balanced and insightful approach to understanding economic and financial behaviour with contributions from other disciplines (e.g. psychology).  The module covers formal and informal behaviours, and explores in some detail the impact of individual and institutional behaviours. Students’ work will be based on real world economic and financial data, and case studies.

In this module we look at a range of economic issues from the perspective of the state and public finances. We will consider the benefits and problems associated with the state’s involvement in providing goods, the welfare state and the extent to which the state should engage with the market and in its regulation. We will also look at how effective government attempts at redistribution are and how these themes play out in our globalised world.

Despite advances in economic thought, recurrent local or global financial crises, bubbles and boom and bust cycles have become a constant feature of modern life. In this module we will look at whether orthodox economic theory can adequately respond to these events, and assess the new and not-so-new theories and approaches that have been suggested to minimise the chaos and suffering that these crises regularly bring about. We will look at a selection of crises from the past, at why and how particular countries have fared well or badly during them, and at what measures might be taken by economies to minimise exposure to these events. We will also ask whether an alternative approach in economic matters might be able to bring such cycles to a close.

• Applied Dissertation - 30 Credits
• Volunteering for Economists - 15 Credits
• Financial Risk Management - 15 Credits
• Investments - 15 Credits
• Local Banking and the World Financial System - 15 Credits
• Digital Finance - 15 Credits
• Value studies module - 15 Credits