This module is designed to equip students with a mix of skills to support learning on their Economics Programme. It provides a framework for problem solving, including how to identify objectives and constraints, and enables students to develop their capacity for applying basic software skills in their study of Economics. It also offers guidance in collecting information from diverse sources and support in developing information literacy and referencing skills. Within this context it will offer an introduction to research methodology, which will enable building the basis for different pieces of research throughout the degree. It will also offer insights into project management, in order to help students organise their time efficiently for the submission of assignments in a timely manner, as well as time management for exams preparation. These very necessary skills and knowledge will constitute the first part of the module. The second part of the module will be devoted to learning basic principles of Statistics for Economics, paired with practical demonstrations of the application of computing in Economics. These will mainly be covered using Microsoft Excel, but also SPSS (and/or other statistical tools considered appropriate at this level, commensurate with progression of technological applications). This module provides the foundations on which SO5005, Introductory Econometrics, will build.

The module content will include:

• Study skills to include information literacy (numeracy and literacy), referencing, time and project management, and assessment support.
• Introduction to quantitative and qualitative research methods.
• Describing and summarising data;
• Probability theory and distributions;
• Central Limit Theorem (CLT), estimation and confidence intervals;
• Hypotheses testing;
• Correlation and linear regression.

 The aims of the module are to: 

• Enable students to acquire appropriate skills in Statistics for moving to level 5. 
• Introduce students to the basic concepts related to research methodology.
• Enable students to develop skills essential to undertake and present quantitative research using Microsoft Excel and other relevant software.
• Enable students to make effective use of University computing and library resources for purposes of communication, research and collection and description of economic data. 

This module is designed to provide students with an introductory understanding of the key principles and concepts of micro and macroeconomics and their application. This is set within the contemporary social, cultural, political and policy context, in particular post the financial crisis, enabling students to appreciate the relevance of Economics within a wider context. It will also provide guidance on how to approach the study of Economics and how to start thinking like an economist as well as more generic skills such as economy related presentations.

Microeconomics content includes:

• Basic economic problems of scarcity and choice
• How consumers and producers make decisions
• Implications of different market structures
• Economic welfare
• How governments intervene when markets fail

Macroeconomics content includes:

• Wider economic environment, including the measurement and flows of national income
• Causes and effects of unemployment and inflation
• Uses and abuses of government fiscal and monetary policy

 Content relating to the application of the above includes: 

• Structure of the UK economy
• Impact of government macro and microeconomic policies on society
• Impact of fiscal, monetary issues and financial markets on society
• Public expenditure, employment, labour markets, labour relations and income distribution and implications
• Austerity and post-crisis welfare

The aims of the module are to:

• Develop students' ability to apply theory and model building at an introductory level to microeconomic and macroeconomic levels of economic activity
• Enable student appreciation of the role and relevance of microeconomic and macroeconomic theory in the analysis of private and public sector economic problems
• Ensure student appreciation of the relevance of economic analysis to the study of a wide range of ‘real world’ phenomena at both the micro and the macro level and in a range of settings
• Facilitate student understanding of and ability to apply economic reasoning, theory and analysis, to past, present and future policy issues
• Enable application of theory to practice
• Ensure an understanding of the interdisciplinarity of the social sciences
• Facilitate an appreciation of the changing nature of the discipline of Economics

This module represents the core undergraduate Mathematics unit, where students will receive an introduction to basic and more advanced mathematical techniques to support learning on their Economics Programme. Part of the module will be devoted to learning basic principles of Mathematics from scratch. The other part will provide more advanced mathematical techniques that students will need throughout the Programme. This module will help students gaining problem-solving skills and knowledge in various areas of Mathematics and will support their learning in most of the core units of the Economics Programme (e.g., SO4003 Introductory Micro and Macroeconomics, SO4002 Skills for Economics, SO5001 Intermediate Micro and Macroeconomics, and SO5005 Introductory Econometrics).

The module content will include:

• review of basic algebra;
• indices (powers and fractional powers);
• functions;
• logarithms;
• differential calculus;
• limit evaluation;
• optimization;
• integral calculus.

The aims of the module are to:

• Enable students to acquire appropriate knowledge in Mathematics to support their learning in levels 4,5 and 6.
• Enable students to develop problem-solving skills.
• Enable students to apply fundamental mathematical concepts to solve real world problems in designed scenarios.  
  
  

Part A:      

Preparation for Experiential Overseas Learning will take place at the university of Chester during level 5 and will include:  

• The multiple facets of Global citizenship
• Ethical engagement and practice
• Cross-cultural issues and sensitivity
• Intercultural communication

Theories, models and strategies of learning

• Theories and models Intercultural competence
• Theories and models of Integration and Multiculturalism

• Critical thinking skills and models of Reflection
• Experiential learning models
• Self-directed experiential learning

Personal and placement-related skills

• Enhanced independence
• Improved command of multicultural behaviour
• Increased knowledge and confidence in their individual facets of personal identity
• Effective time management and organisational skills
• Project management – working away from University and independent study
• Self-management and personal development
• Team building and team work

Part B:            Overseas

Students will engage in experiential learning activities overseas for at least 150 hours 

The purpose of this module is to enhance students’ prospects of completing an overseas placement to the best of their ability consequently it aims to:

• To equip participants with appropriate knowledge and skills to study or work in a different cultural, linguistic and/or social environment; enhancing ethical, cultural and intercultural awareness.
• To enhance students understanding of the ethical issues related to living and working abroad.
• To increase students Global Citizenship skills
• To provide an opportunity for students to reflect critically on their experience of living and learning within an unfamiliar culture, to their 'home' culture or ethnic group.

To challenge students to learn about themselves as global citizens in terms of life skills, career choices and academic development outside the classroom.

Preparation for the year abroad will take place in Chester during level 5 and will include:

• Cross-cultural issues and sensitivity
• Host-country orientation, study methods– economic, political and social reality of the country
• Orientation specific to exchange – health, education, gender issues
• The United Nations Sustainable Development Goals
• Practical matters relating to living and studying in the wider world

Theories, models and strategies of learning

• Critical thinking skills, experiential learning       and models of reflection

Personal and placement-related transversal skills

• Effective self-motivation and independent resourcefulness
• Effective time management and organisational skills
• Project management – working away from University and independent study
• Self-management and personal development

Whilst abroad:

Students will undertake study at one of UoC’s partner universities; it is expected that students will choose a series of modules at the university abroad, which equal a full-time study load. This must be agreed by the host institution and the International Tutor. Students must supply details of their courses/modules on a learning agreement within 4 weeks of arrival at the host university, note students who fail to supply this within 4 weeks may have the opportunity withdrawn.

1. To experience academic life in country outside of the EU, enhancing cultural and intercultural awareness and increasing transversal skills.
2. To reflect on the impact of the experience in their destination on one’s own personal, academic and professional development.
3. To engage with the experience of study at a partner university to gain extensive first-hand knowledge and understanding of the relevant society from the perspective of the resident.
4. To further develop independent learning techniques.
5. To foster critical evaluation.

This module builds on the introductory material covered in the double microeconomics and macroeconomics module of Level 4 and addresses the microeconomic foundations of macroeconomics.  The module includes the following, which will be delivered with an emphasis on the integration between the two areas.

For intermediate microeconomics:

• utility theory
• consumer optimisation
• production functions and cost, and profit maximisation
• market structure 
• strategic behaviour (including game theory)
• labour markets
• social choice and welfare

For intermediate macroeconomics:

• aggregate supply and demand
• unemployment
• the labour market
• inflation
• the unemployment-inflation trade-off
• ‘international issues’ such as trade, balance of payments and exchange rates

The aims of this module are to:

• Understand the relationship between micro and macro economics 
• Describe optimising and maximising behaviour at the level of the individual and the firm
• Ensure understanding of the nature of competition in the business environment
• Explain the demand for factors of production, especially labour
• Outline welfare and the particular character of ‘externalities’ and social costs
• Communicate the essential differences amongst the ‘Keynesian’, ‘Neoclassical’, ‘Monetarist’, ‘Heterodox’ and ‘Post Crisis’ approaches to microeconomics and the macroeconomics of unemployment, economic growth, and inflation
• Explain the role of interest rates
• Describe international trade and payments

This module represents the core undergraduate econometric unit. The module provides an introduction to basic and more advanced econometric techniques, building on the statistical skills acquired in Level 4 - S04002 Skills for Economics. Part of the module will be devoted to cross-sectional data analysis and Ordinary Least Squares (OLS) estimation, with standard extensions such as functional form misspecification. The other part will be focused on time series data analysis, concentrating on serial correlation and heteroskedasticity in time series regressions. The module will also offer an introduction to panel data analysis, which combines elements of cross sectional data and time series data as well as a brief treatment of instrumental variables (IV). 

The module will provide students with the opportunity to practice several econometric software tools and will endeavour to introduce relevant technological updates relevant for data analysis. 

The module content will include:

• Introduction to (simple linear and multiple) regression analysis
• Introduction to time series analysis
• Introduction to panel data analysis
• Introduction to instrumental variables

The aims of the module are to:

• Build on the foundations of Level 4 skills.
• Offer students a variety of techniques appropriate to the analysis of different types of data.
• Offer students an understanding of how to relate statistical analysis to economic theory.
• Enable students to produce and interpret empirical economic analysis.

This module represents the core undergraduate finance unit. In this module, students will be equipped with concepts
and skills to understand financial markets and financial institutions. In this module, students will be
equipped to understand the connection between theoretical concepts and working of the real-world
workings of financial markets. The module will build on some of the mathematical techniques explored in SO4004 Mathematical Methods for Economists. The first part of this module will explore an introduction to finance and financial markets.  The second part of the module will explore some introductory principles of corporate finance.

The module content will include: 

• Overview of the financial system. 
• Fundamentals of financial markets and financial institutions.
• Central Banking and the conduct of monetary policy. 
• Introduction to corporate finance.

The aims of the module are to: 

• Build on the foundations of level 4 skills 
• Offer students a variety of tools for understanding various aspects of financial markets, financial institutions, and corporate finance.
• Equip students with methods for analysing financial markets and institutions. 
• Enable students to relate concepts discussed in the module to real-world situations

The module is designed to introduce the students to the area of industrial economics. This module also serves as an introductory course to enable the students to have the basic understanding of the key principles and concepts of industrial economics. The course focuses on the behaviour of the firms in imperfectly competitive markets such as organisations, market structures, conduct, market efficiency and performance of industries. The module also focuses mainly on specific areas of firms’ strategic behaviour such as product differentiation, advertising, vertical and horizontal integration, competition policy and regulation.

The module content will include:

• Introduction to Industrial economics
• Managerial and behavioural theories of the firm
• Transaction costs, agency and resource-based theories of the firm
• Product differentiation
• Advertising
• Research and development
• Horizontal mergers and strategic alliances
• Vertical integration
• Competition policy
• Regulation

The aims of the module are to:

• Introduce students to the basic concepts of industrial economics
• Enable students to apply principles and concepts of microeconomics theory to the study of firms’ behaviour
• Facilitate students’ understanding of the ways in which economic theory operates within the industry
• Facilitate students' awareness of industrial economics policy issues

This module will introduce students to a range of theories, ideas and processes related to international trade from several perspectives: economic, historical, political and international. Students are shown how international trade and commercial relationships impact, alter and create political and social connections. Student learn how political, social and cultural institutions play a large role in facilitating these arrangements, and how relationships develop and change over time. The exercise of power in international relationships, ad its impact on trade and through the form of economic diplomacy is explored through the module.

The content will include topics such as:

• The origins of international trade
• The creation and role of the World Trade Organisation and other international organisations
• Barriers to trade (tariffs and quotas, political)
• International Trade Agreements and disagreements
• Regional integration areas
• The role of currencies and exchange rates
• Globalisation and finance
• Global crisis and their effects on trade
• Economic diplomacy and trade
• Economic destabilisation and trade
• Changing power in international trade: The rise of China, India, Brazil
• Effects of and constraints of international trade on development and environment

The aims of the module are to:

• Enable student appreciation of the role and relevance of international trade and international politics and their relationship to one another.
• Facilitate student understanding of the economic rationale behind the existence of international trade.
• Ensure student appreciation of the complexity of commercial relationships and their inter-relationship with political systems and with power in the international arena.
• Facilitate an appreciation of the changing nature of international trade over time and in terms of institutions, instruments, agreements and countries' roles.
• Enable application of theory to practice.

Pre-placement:

• Structured approaches to researching, selecting and securing a suitable work placement relevant to the student’s interests and career aspirations*.
• Writing an effective CV. Constructing a letter of application.*
• Interview skills.*

 *Note: Students are required to undertake these pre-placement tasks during term 1 level 5, as part of the placement acquisition process and will be supported by the Work Based Learning team and the Careers and Employability department.

 Induction Programme and Placement:

• The organisational context: research-informed analysis of the placement organisation’s aims, structure, culture.
• Self- assessment of needs: identification of the range of transferable skills, competencies and attitudes employees need and employers expect graduates to possess. (Employability Skills: e.g. verbal and written communication, analytical / problem solving capabilities; self-management; team working behaviours; negotiation skills; influencing people; positive attitude, resilience, building rapport).
• Devising a strategy for integrating into the workplace and work based teams
• Completion of online assignment tasks covering sourcing and obtaining placement; health and safety procedures in general; general workplace integrity; placement requirements. 

During and post-placement: Learning effectively in and from the workplace:- 

• Devising and implementing strategies to improve own approach and performance
• Critical analysis/evaluation of approach to skill development and performance in the workplace;
• Influencing the Placement Provider’s appraisal;
• Devising an action plan to develop gaps in transferable skills based on the placement experiences;

This module aims to enhance students’ prospects of gaining graduate level employment through engagement with a University approved work placement**, which will enable them to:

• Develop their understanding of workplace practice and lifelong learning;
• Enhance their work readiness and employability prospects through development of transferable skills;
• Take responsibility for their own learning and acquisition of workplace employability skills;
• Articulate, in writing, their employability skills.

This module builds upon earlier modules in microeconomic and macroeconomic theory with a view to introducing students to topics that both advance their understanding of the foundations of economic analysis and have applications across a range of social science and management disciplines, and developing their criticality.  The module will be looking at contemporary applications and will try to include employer participation.

At the micro-level, the module will include:

• Market power and pricing strategies
• Investment, time and insurance
• risk and uncertainty analysis
• asymmetric information
• behavioural and experimental economics

At the macro-level, the module will include:

• Trade-off between inflation and unemployment
• Dynamic Aggregate Supply and demand
• Understanding consumer behaviour
• The theory of investment
• Stabilization policies
• Government debt and budget deficits
• Macroeconomics and the global financial crisis

The aims of the module are to:

• Develop in students the critical analytical foundations of economic analysis
• Establish the relevance of economics to a variety of social science disciplines
• Investigate the implications of risk and uncertainty for insurance-related decisions
• Embed the core elements of financial decision making
• Understand contemporary models of macroeconomic behaviour
• Facilitate student awareness of issues of employability

The purpose of this module is to provide an introduction to the problems of economic development and the related issues of economic growth, and to relate this to theories of macroeconomics. Topics to be covered include:

• Definitions and theories of development
• Human capital and development: education and health
• Income distribution and nutrition; measurement issues
• Models of economic growth; inequality, poverty and growth
• Rural-urban migration and rural development
• Trade as a driver of development,
• Migration and growth
• Debt, Financial crisis, foreign finance and aid
• Markets, states and civil society
• Governance
• Conflict

The aims of the module are to:

• Ensure students understand the concept of ‘development’ and the nature of economic growth
• Enable students to apply measures of development and inequality,
• Ensure students understand the role of human and physical capital in development
• Allow the critique of the causes and effects of migration and their impacts in labour markets
• Facilitate the consideration of wider social issues in economic development

The module will cover the big aspects that intervene in the relationship between human beings and the environment. The content will be divided in blocks according to specific topics:

• The theory of environmental policy (property rights, market instruments, pollution control...)
• Contemporary environmental issues (acid rain, deforestation, waste management, recycling)
• Natural resource economics (differences between renewable and non renewable resources, fisheries, forests, energy resources)
• Environmental valuation techniques
• The consequences of trade over environment through their theoretical underpinnings (Pollution havens, Porter Hypothesis) and case studies
• Global environmental issues (climate change, the role of ethics)

This module specifically addresses areas of the Economics subject benchmark to make students aware of how economics can be applied to design, guide and interpret economic, social and environmental policy. It builds on content specified in the subject benchmark, such as externalities and market failures, which students have been introduced to in Levels 4 and 5, and develops further analytical skills.

The aims of the module are to:

• Introduce the students to the concept of circular economy as the explanation of the relationship between humans and the environment.
• Provide a general understanding of environmental policy and the economic instruments used as part of said policy.
• Ensure an appreciation of the role of different types of natural resources for economic development and growth and the consequences of over-exploitation.
• Develop basic knowledge of environmental valuation techniques and their application to real case scenarios.
• Reflect on contemporary environmental issues with an international component and the different international approaches to sustainable development.

This module on International Political Economy is concerned with the (re)production of power and wealth within the contemporary world order. The module explores complex questions and global challenges that are rooted in an understanding of power, international relations and economy. Students are asked to think critically about how the politics of the international economy is governed and through an evaluation of power and inequality. Such questions include: Why and how does the politics and economics of the world take its current form? In what ways do the structural features of the world economy shape power and visa versa, and with what consequences? In what ways does the international political economy create uneven consequences and shape interactions in the international community?  Case studies will be drawn from across the world and, in particular, from Latin America. Indicative content includes:

• Theoretical Approaches of IPE: Orthodox, Critical and Radical theories.
• The Subject of International Political Economy and its Methods
• The Evolution of the IPE: Empires and mercantilism; economic liberalism; the liberal economic order; Pax Britannica, industrial capitalism and imperialism; Power, Contemporary capitalism and global governance – who does the governing?; contemporary imperialism.
• Bretton Woods Institutions; the Washington Consensus, Post-Washington Consensus and Critique; Dismantling Embedded Liberalism; States, Markets and Institutions.
• Key issues, global challenges and responses in the IPE: Globalization and its discontents; North-South Relationships; International Trade, Finance and Development; Transnational Production; Global Division of Labour; Sustainable Development; International Security, Conflict and Migration; Culture, Indigeneity and IPE; Resistance to the Global norms; Climate change and energy security; the IPE of ideas and knowledge production.

The aims of this module are four-fold:

• To provide an in-depth understanding of the historical development of the IPE.
• To provide a critical analysis of the main institutional and structural contours of the global political economy and the effects of these.
• To offer perspectives and insights that engage with, stand in contrast to and challenge dominant paradigms about power dynamics within the global political economy.
• To provide a sophisticated understanding of global issues and challenges through mainstream, critical and radical theories of IPE.

Content will vary according to individual dissertation proposals

The Dissertation is designed to provide an opportunity for sustained and independent study in the final year of social science programmes. It intends to develop knowledge of, and critical insight into, a topic of the student's choice within the subject area under study. Students are enabled to undertake first-hand enquiry and encouraged to develop an analytical and reflective approach to the subject identified for study. The module aims to encourage the articulation of a critically informed perspective on the subject being studied. It also intends to enable the production of a coherent document of rigorous academic standards.