Economics BA (Hons) (with Foundation Year)

The Foundation Year is a great opportunity if you have the ability and enthusiasm to study for a degree, but do not yet have the qualifications required to enter directly onto our degree programmes. A significant part of the Foundation Year focuses upon core skills such as academic writing at HE level, becoming an independent learner, structuring academic work, critical thinking, time management and note taking.

Successful completion of the Foundation Year will enable you to progress into the first year (Level C) of your chosen honours degree. Further details can be found here.

Introduction to Economic Analysis

Principles of Economics

This section covers Microeconomics and Macroeconomics. Topics include supply and demand, market failures, and market structure. We will also discuss factor markets, income inequality, GDP measurement, unemployment, inflation, and economic growth. Additionally, we’ll look at exchange rates, international trade, fiscal and monetary policy, and government spending and taxation.

Introduction to Mathematics and Statistics for Economists

Students will learn basic algebra, introductory calculus, and optimisation techniques. We will also cover descriptive and inferential statistics. This includes using statistical software for data analysis.

Introduction to the Evolution of Economic Thought

History of Economic Thought

Students will explore how economic thought has evolved. We’ll study theories from Adam Smith’s Wealth of Nations to modern debates. Key topics include price and market dynamics, population growth, resource allocation, and income distribution. Important figures in this evolution include Adam Smith, David Ricardo, John Stuart Mill, Robert Malthus, Karl Marx, Alfred Marshall, John Maynard Keynes, John Hicks, Paul Samuelson, and Milton Friedman.

Writing in University Economics

Writing assignments are crucial in economics. They aim to create lasting educational benefits for students. This module serves as a guide for writing in University Economics. It focuses on accessing knowledge, demonstrating command of concepts, and discussing economic ideas in published, non-technical materials.

If you study Economics as a single honors programme, you will also study:

Introduction to Economic Decision-Making

Games and Decisions

"Games and Decisions" introduces game theory and strategic decision-making. Students will learn how people and organizations operate in competitive and cooperative settings. We will discuss key topics like Nash equilibrium, dominant and mixed strategies, and extensive form games. Decision-making under uncertainty and the importance of information in strategies will also be covered.

Financial Economics

Financial Economics explores key concepts and practices in the field. This module introduces essential financial ideas and addresses corporate finance issues. Students will learn about present value, cost of capital, and techniques for valuing bonds and stocks. We will also explore capital budgeting, investment opportunities, portfolio theory, asset pricing models, dividend and debt policies, and the relationship between risk and return. Finally, we will cover financial decision-making, management, and governance.

Intermediate Economic Theory

This section covers intermediate microeconomic and macroeconomic analysis. It combines formal theory with real-world problems. Students will learn economic theory through calculus, algebra, and graphs. The course uses real-world examples and a step-by-step approach. It shows how micro and macro theory can solve practical issues and inform policies.

Introduction to Econometrics

In this course, students will learn about econometric methods and statistical techniques. These tools help test research hypotheses and economic relationships. The focus is on practical econometric tools, including:

• Basic regression analysis using time series data
• Panel data models
• Model misspecification, like omitted or irrelevant variables
• Use of SPSS/STATA and other statistical packages
• Introduction to maximum likelihood estimation
• Nonlinear models

Contemporary Issues in Global Economics

Students will explore how economic theories apply to important global issues. The focus will be on current challenges, including:

• Causes and consequences of recent financial crises
• Economic impacts of European Union integration and Brexit
• Emerging economies
• International trade, trade wars, and protectionism
• Globalisation and mass migration
• Environmental economics

If you pursue Economics as a single honors programme, you will also study:

Research Methods in Economics

This module covers the steps for conducting applied economic research. Key topics include selecting a topic, literature reviews, choosing research methods, formulating hypotheses, testing them with statistical analysis, and summarising results.

Environmental Economics and Sustainable Economic Development

This module teaches the relationship between the environment and sustainable development. Key topics include climate change, air and water pollution, and methods of environmental economics. It covers externalities, cost-benefit analysis, and valuing environmental services. Real-world examples will illustrate strategies for meeting the United Nations Sustainable Development Goals (SDGs).

Economics of Labour Markets, Poverty, and Inequality

This module applies economic theory and empirical methods to labour supply and demand, human capital investment, minimum wages, union effects on wages, and labor market discrimination. It also covers macro aspects like unemployment causes, cures, and the relationship between unemployment and inflation, as well as income distribution.

International Economics and Finance

This course looks at international economic theory and real-world policy issues in a changing global economy. It covers trade and monetary topics, supported by data and policy analysis, and examines the history and roles of major institutions such as the IMF, World Bank, and WTO.

Banking and Finance

The student will study the economic theories of banking and finance with special emphasis placed on:

• The role of banking and the financial system in the wider economy
• The microeconomic basis of financial economics
• The principles of monetary policy
• Regulation and government intervention in the banking and financial sector
• The impact of the financial crisis on banking and financial system
• Financial liberalisation

If you study Economics as a single honours programme, you will also study:

Programming and computational methods for economists

This advanced module equips economics students with essential programming skills and computational techniques necessary for modern economic analysis. Emphasising practical application, students will learn to code using Python and R, the primary languages for data analysis in economics. The course covers data manipulation, statistical analysis, and economic modeling, preparing students to tackle real-world economic problems using computational methods.

Public Economics

This module intends to provide a concise and nontechnical overview of the role of government in an economy from a global perspective. Topics covered include the justification for government involvement, the aims of state economic activity, and the tools available to governments. In addition to providing a comprehensive understanding of the government’s role in the market economy, the course refers to global examples to shed light on the history and evolution of the government activity.

Behavioural and Experimental Economics

This module offers a thorough understanding of how behavioural, psychological and social factors affect decision-making in economics. It explores how real-world behaviour deviates from traditional game theory predictions and highlights its importance in facilitating effective policy-making and in explaining consumer and producer behaviour.

Research Project (or Integrated Dissertation)

During the year, students will complete a Research Project (or an Integrated Dissertation). This enables them to explore in depth a subject of their choosing related to Economics. Students will be able to deploy their research skills, data gathering and analysis and develop the ability to critically analyse their work and draw appropriate conclusions.