BA (Hons) Economics with Sandwich placement

This module will build on the level 4, History of Economic Thought I module by considering the development of economic thinking through the twentieth century and into the twenty first. This saw the birth of macroeconomics as a separate discipline from microeconomics through the emergence of Keynes's book, The General Theory of Employment, Interest and Money. The module will explore the debates between different macroeconomic schools of thought including the Keynesian, Monetarist, New Classical and Rational Expectations schools. In addition, new areas of microeconomics have developed though the last century. These include developments in industrial economics, financial economics (efficient market theory), international trade, growth and development theory, public choice theory and behavioural economics. The major thinkers in these fields will be explored throughout the module to help students appreciate the development of economics since the beginning of the twentieth century and understand the key differences in various economics schools of thought.

International economics considers how economies and the global economy have become more interconnected. In this module, you will study theoretical models of international trade as well as the effects of trade policies such as tariffs and free trade agreements. You will also explore international macroeconomic issues such as the balance of payments, the foreign exchange market and the links between the exchange rate and macroeconomic activity. The module will develop student’s awareness of the role of international trade and sustainable development.

This module aims to provide students with an introduction to the principles of financial economics. This will provide students with the primary theoretical and conceptual frameworks of finance to enable students to study finance at a higher level.

This module focuses on Macroeconomic Theory and Policy and aims at developing your understanding of economic thinking through rigorous and analytical assessment of Macroeconomic theoretical models and policies. The module will encourage students to consider the importance of becoming a responsible economic professional, embed critical thinking and develop their analytical skills so they understand and can use metrics, data and a range of information sources that help form the basis of effective macroeconomic decision making.

What influences your choice of holiday destination? How can you tell whether the car you buy should be reliable? Why is the government directly involved in the provision of education but not the provision of food? To answer these questions we need to understand the economics of decision-making and market efficiency. We will begin by examining consumers’ decision-making using rational choice theory. This will be followed by an investigation of how the consumers’ decision-making process would differ in an environment of incomplete information, uncertainty and bounded rationality. The impact of such an environment on decision-making by firms will also be considered. We will apply our understanding of decision-making in individual markets to the overall economy and discuss issues related to market efficiency. The alternative policy options available to government in addressing issues concerning market efficiency will be discussed.

This module will expose students to alternative perspectives in Economics. The module intends to develop a critical understanding of heterodox schools of economic thought, including though not limited to Marxian, Austrian, Post-Keynesian (Modern Monetary Theory), Institutionalist, and Behaviouralist perspectives. It will also consider differing methods and approaches drawn from feminist and ecological perspectives. The module will equip students with a greater appreciation of alternative economic theories, models and methods through which they can critically assess government economic policy.

Why do some countries grow rich, while others remain poor? This module introduces students to contemporary microeconomic and macroeconomic issues in development economics. It is concerned with general theoretical and empirical themes explaining income differences between countries and their growth processes. Topics covered in the module include theories of economic growth and development, the impact of factor accumulation (physical capital, population growth and human capital), foreign aid, the environment on growth and development.

In this module, we will study firms and markets, especially strategic interactions among firms. The focus will be on firm behaviour in imperfectly competitive markets. The module aims to provide a broad understanding of industrial organisation theory and to apply concepts, theories and methods used in industrial organisation to the analysis of different firms' strategies and economic policies. More specifically, the module will provide an understanding of the effects of industry characteristics (such as structure, differentiation, network effects and firm dominance) on firms' strategies, market outcomes and innovation, using concepts and models from industrial organisation. It will also provide an awareness of the policy challenges posed by industry characteristics in terms of competition and welfare and possible policy responses. The module will relate the presented models to real world cases and policy applications. The module will be relevant to students who wish to embark on research in this field, or to pursue careers in business, consultancy and government.

The trend for reductions in public expenditure across developed economies has raised the question of the role of the state in the sphere of social welfare. This module uses microeconomic concepts to examine the rationale for state intervention and discusses the alternative policies available to governments. We will investigate issues relating to healthcare, education, pensions and social insurance systems. The impact of behavioural economics on our understanding of how people make choices and the consequences for policy design will be explored.

This research-based module will enable students to investigate an economic problem through independent study. The module allows students to integrate different aspects of their previous study of Economics and apply their learning in the discipline by carrying out and independent investigation of a closely defined economics issue/problem. Students will be able to select a topic of specific interest related to staff interest and expertise.