BSc Business Economics with a Placement Year

Key details

BSC BUSINESS ECONOMICS WITH A PLACEMENT YEAR

Start Year

2021

Attendance

Full Time

Award

Degree of Bachelor of Science

UCAS course code

L11P

Entry Requirements

AAB

On this course you'll combine insights from economics with a focus on business economics. This gives you an understanding of the economic context in which modern business operates, helping you gain the skills to develop business strategies in a competitive environment.

To learn how the economy works from a business perspective you'll study microeconomics, macroeconomics, economic modelling and statistics. You’ll also discover how businesses operate and interact within an economy. You’ll be introduced to the decisions firms need to make in the module The Economics of Business Decision-Making and investigate financial decision making in The Economics of Corporate Finance.

You’ll also learn about the fundamentals of corporate finance, business strategy and the significance of increasing globalisation, as well as exploring industrial organisation, competition economics and how markets operate.

You can complement your core studies with optional modules in economics and finance, which cover areas such as labour, public policy, financial markets, derivatives, risk management, history of economic thought, the economics and business of sport, alternative investments, and environmental economics.

About

All businesses operate within an economic context. If you aspire to work in business, understanding the insights that can be gained through economic analysis will give you a significant advantage. You’ll learn how to create powerful business strategies and make better business decisions.

By studying economics with a focus on business you’ll develop an understanding of what makes the world tick: how individuals make choices, how those choices create markets, and how markets interact to create national and global economies. You’ll also discover how economic policies can be developed to improve social welfare.

On this course you'll typically spend between 9-12 months of your third year in a full-time placement, gaining invaluable working experience and employability skills in a relevant area of your choice. Whilst you’ll be expected to secure your own work placement, dedicated staff within the School and the Careers Service will support and assist you throughout the process of searching, applying for, and ultimately gaining a position. Support will also be provided whilst you're on placement and when you return to complete your studies in your fourth (final) year.

Placements are just one aspect of work-based opportunities available to our students. Over the last few years several of our students have secured internships during their studies at several top companies and organisations including EY, Government Economic Services, Handelsbanken, ONS, Willis Towers Watson and many others.

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Course Reference Number: 1545525

Important Information

Whilst the University will make every effort to offer the courses listed, changes may sometimes be made arising from the regular review of course programmes. Where this activity leads to significant (but not minor) changes to programmes, there will normally be prior consultation of students and others. Changes may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will inform students.

Assessment for Year 1

You'll be assessed through a balanced mix of coursework and exams. Coursework is deliberately varied, and can include essays, presentations, research projects, group work, poster-presentations, screencasts, viva voce conversations, and online writing in blogs, on Twitter and in forums. You may write a dissertation in your final year.

Each piece of assessment plays a role both in checking your progress, and in supporting your continued learning. Assessment is moreover an opportunity to develop your employability. We aim constantly to provide you both with the broadest workplace skills, and with the evidence you need to showcase these skills to employers.

Structure

On this three year course you’ll study a core set of compulsory modules in business and business economics – plus get a choice of optional modules to tailor your learning to your interests.

Year 1

In your first year you’ll discover macro and microeconomics through core economics modules and gain an understanding of economic modelling and statistical techniques through the modules Introductory Mathematics for Economists and Introductory Statistics for Economists. You’ll also get an introduction to the decisions firms need to make in The Economics of Business Decision-Making.

Teaching and Learning

You'll be taught by a lively, friendly, research-oriented team, committed to teaching excellence and focused on facilitating your growth and success.

Our School is globally respected, especially for its pioneering and world-leading work in behavioural economics. Our active research areas also include macroeconomics, competition economics, environmental policy, conflict theory, finance, and labour market studies in education, family and welfare.

Within your taught programme you'll find the intellectual challenge and personal freedom you need to pursue your own goals and interests. And you’ll be doing this within the broader academic and social life of a school that forms a vibrant and diverse community.

Our student-led Economics Society is the perfect place to network and socialise with fellow students with shared interests. The Norwich Economic Papers, run by a Student Editorial Board, and the ECO Blog are outlets within which you can publish your work. Our within-school internships enable you to participate directly in frontier research. And our Staff Student Liaison Committee gives you a say in the future direction and every day running of the school.

Throughout your studies we provide the very best support and guidance. A personal adviser and an in-school student support scheme are always available to offer you programme-specific help. A university-wide Learning Enhancement team, based in Student Support Services, is on hand to help with study, writing, research, critical-thinking, revision, examination and time management skills. If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia, our Student Support Services can help ensure we cater appropriately for these needs.

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Assessment for Year 2

Structure

Year 2

You’ll continue strengthening your understanding of the macro and micro economy, alongside learning about the collection and analysis of data. In Introductory Econometrics you’ll build your statistical skills – and apply them in a practical project in the module Econometrics Research Project. This module is also designed to enhance your employability.

Alongside this you’ll explore the financial decisions firms make in The Economics of Corporate Finance. You’ll choose optional modules covering areas such as international trade, business strategy and globalisation.

Teaching and Learning

You'll be taught by a lively, friendly, research-oriented team, committed to teaching excellence and focused on facilitating your growth and success.

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Assessment for Year 3

Structure

Year 3

In your third year you'll spend nine to 12 months in a full-time placement.

Teaching and Learning

You'll be taught by a lively, friendly, research-oriented team, committed to teaching excellence and focused on facilitating your growth and success.

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Assessment for Year 4

Structure

Year 4

In your final year, you’ll specialise in industrial organisation and competition economics – enhancing your knowledge of how markets operate and firms compete. You can complement this with macroeconomic, microeconomic and econometric modules.

You will choose further optional modules in economics and finance – in areas such as labour, public policy, financial markets, derivatives, risk management, history of economic thought, economics and business of sport, alternative investments, and environmental economics. And you can take a dissertation during your final year.

Teaching and Learning

You'll be taught by a lively, friendly, research-oriented team, committed to teaching excellence and focused on facilitating your growth and success.

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Students with A-level Maths or equivalent will be enrolled on ECO-4003A Mathematics for Economists instead of ECO-4001A Introductory Mathematics for Economists.

Assessment for Year 1

Compulsory Modules

INTRODUCTORY MATHEMATICS FOR ECONOMISTS

Code ECO-4001A

Credits 20

Are you surprised to find that studying economics requires some maths skills? Does this worry you? If so, this module will help you overcome these fears and show you that the maths techniques used in economics are actually not as hard as you might think. This module will provide you with a good grounding in basic mathematical techniques and prepare you for any second and third year modules which require maths skills. You’ll learn how to apply your maths in an economic context during the lectures, seminars and in two computer lab sessions in which you’ll use Excel. In this module, you’ll cover some of the material normally covered in a typical A-level course. At first, you’ll develop a basic understanding of linear and non-linear functions, gradually advancing to using differential calculus and constrained optimisation. Throughout the module, you’ll focus on the mathematical techniques and their economic applications. In computer lab sessions, you’ll learn how to use Excel to draw graphs of functions, solve simultaneous equations and optimisation problems. By the end of the module, you’ll be able to correctly identify appropriate mathematical techniques and apply them to economics. You’ll also know how to use Excel to solve some mathematical problems and draw graphs of functions. In addition, you’ll be well prepared for any second and third year modules which require maths skills.

INTRODUCTORY STATISTICS FOR ECONOMISTS

Code ECO-4001B

Credits 20

Who's most likely to win the next election? How old or wealthy is the typical shopper at UK's largest department stores? How much are you likely to earn from an economics degree? Describing the world in figures is what this module is about, and with so much data out there, there's never been a better time to study statistics. This module introduces key probability and statistical concepts and tools, exploring their application to real-world data. You’ll learn statistical inference techniques to draw general conclusions based on sample data, and gain experience in the use and visualisation of real statistic data. This module is a foundation for the second year module Introductory Econometrics. You'll begin with an overview of descriptive statistics and how to characterise the data using measures of central tendency and dispersion, before delving into events, probabilities and data distributions. Though lectures and applied computer seminars, you'll then make use of these concepts to understand and perform estimation and hypothesis testing. This module will enable you to analyse and present basic features of any numerical data. You'll perform statistical techniques using specialised statistical software. This will prepare you for data analysis in business, economics and related disciplines, and for linked second and third year modules.

INTRODUCTORY MICROECONOMICS

Code ECO-4005Y

Credits 20

Forming a foundation for subsequent economic modules, this module will introduce you to the fundamental principles, concepts and tools of microeconomics and show you how to apply these to a variety of real world economic issues. There is some mathematical content – you will be required to interpret linear equations, solve simple linear simultaneous equations and use differentiation. The module is primarily concerned with: 1) the ways individuals and households behave in the economy 2) the analysis of firms producing goods and services 3) how goods and services are traded or otherwise distributed – often but not exclusively through markets 4) the role of government as provider and/or regulator.

INTRODUCTORY MACROECONOMICS

Code ECO-4006Y

Credits 20

The aim of this module is to introduce students to the economic way of reasoning, and to apply these to a variety of real world macroeconomic issues. Students will begin their journey by learning how to measure macroeconomic aggregates, such as GDP, GDP growth, unemployment and inflation. The module will establish the foundations to conduct rigorous Macroeconomics analysis, as students will learn how to identify and characterize equilibrium on the goods market and on the money market. The module will also introduce students to policy-making, exploring and evaluating features and applications of fiscal and monetary policy. Students will grow an appreciation of the methods of economic analysis, such as mathematical modelling, diagrammatic representation, and narrative. The discussion of theoretical frameworks will be enriched by real world applications, and it will be supported by an interactive teaching approach.

THE ECONOMICS OF SOCIETY

Code ECO-4002A

Credits 20

This module emphasises the application of economics to real-world dilemmas. It focuses on how applied economics can be used to study ‘wicked problems’. Such problems, sometimes referred to as ‘social messes’, are often highly confrontational: How can we control problems of crime? Why do societies suffer significant complications arising from drug addiction? How can we reduce deaths from terrorism and war? Exploring the value of the economic approach in transforming policy recommendations, you’ll consider how economics can play a crucial part in such debates.

THE ECONOMICS OF BUSINESS DECISION-MAKING

Code ECO-4002B

Credits 20

This module introduces key concepts and findings from behavioural economics and investigates how economics can be used to understand the behaviour of consumers, workers and managers. Providing you with a means to introduce key developments in economic analysis, from neuroeconomics to the economics of emotion, the focus is on how such economic insights can ultimately improve business and managerial decision-making.

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Important Information

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, the University will endeavour to consult with students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff. In some cases optional modules can have limited places available and so you may be asked to make additional module choices in the event you do not gain a place on your first choice. Where this is the case, the University will inform students.

Assessment for Year 2

Compulsory Modules

INTRODUCTORY ECONOMETRICS

Code ECO-5006A

Credits 20

Are you interested in working with data? Would you like to be able to make economics predictions, understand how people/societies make choices, or test an economic theory? If so, this module will introduce you the theoretical and empirical techniques you need to satisfy these interests. This module will introduce you to econometrics, which is a combination of economic theory, mathematical economics and economic statistics. You’ll acquire a good understanding of how to structure an empirical model that is based on economic theory or intuition, as well as obtain numerical estimates of these models and test whether the estimated association hold in the population. In addition, as your seminars will take place in the computer labs, you’ll gain skills in analysing data using a specialist software package. In the first part of the module, you will be introduced to the idea of causality in the relationship between variables. You’ll then be shown how to estimate simple association between two variables using a simple linear regression model. It will become clear to you that these models do not necessarily capture the causal relationship between the two (i.e. correlation does not imply causation!). You will then be introduced to the Multiple Linear Regression model, which to some extend allows estimation of causal relationships, given some assumption in the data and the population hold. You will learn how to estimate these models as well as how to interpret and test their estimated parameters. Real world applications will be considered throughout. By the end of the module you’ll be able to estimate appropriate regression models, identify problems that may arise and know how to address them. You’ll also be able to test economic theory using empirical techniques and use a statistical software package. In addition, you’ll be well prepared for any final-year modules which require statistical/econometric skills.

INTERMEDIATE MICROECONOMICS

Code ECO-5007A

Credits 20

What do a politician, a social media company and a supermarket shopper have in common? They all make choices. But what will they choose? What is a good choice? Should we try to change their choice? Understanding choices and how they are made is critically important. This module will see you explore the ways economists think about making choices. Whether those choices are in the context of uncertainty or interaction with others, you'll develop models for predicting and analysing them. You'll also develop skills of reasoning, argumentation and applying mathematical analysis to solve real world problems. You'll begin by looking at individual decision making, then uncertainty, and finally strategic interaction. Building on your knowledge of basic concepts in microeconomics, you'll become adept at applying mathematical analysis to answer a variety of real world problems, from providing public goods to understanding oligopolistic competition, learning through a mix of lectures, workshops and seminars. You'll also have the opportunity to practice for your future career as an economic consultant via a written assignment, where you’ll write a consultant's report on a real-world problem. All areas of economics use microeconomics, so whatever you'd like to study or work with in the future, you’ll be well served by this module. You’ll complete this module with well-developed logic and analysis skills, as well as a solid grasp of fundamental concepts in microeconomics.

INTERMEDIATE MACROECONOMICS

Code ECO-5007B

Credits 20

Inflation, unemployment, economic growth, interest rates, exchange rates and financial markets all feature prominently in the daily news. This module uses a range of economic models to build understanding of these key macroeconomic concepts, and the relationships between them. The module will further your awareness of key macroeconomic concepts and controversies. You’ll be introduced to a range of economic models, accompanied by economic data, growing your understanding and ability to discuss recent macroeconomic events and critique macroeconomic theory. The early part of the module formalises macroeconomic issues including: how much is consumed and how much is saved; how much firms choose to invest; and why we have unemployment. The later part of the module builds these concepts into a macroeconomic model that you will learn to use to analyse the effectiveness of policy in different macroeconomic situations. Key questions throughout are: what can policymakers do and what should policymakers do? On successful completion of the module you’ll have the knowledge and skills for further macroeconomic study. You’ll better understand recent economic events, be better placed to discuss these within a formal economic framework, and be able to comment on macroeconomic policy decisions. You will have the ability to discuss and answer the sorts of questions prospective employers, friends and family might reasonably ask an economics undergraduate.

THE ECONOMICS OF CORPORATE FINANCE

Code ECO-5010B

Credits 20

In this module you’ll explore capital structure – how firms decide to finance themselves. You’ll look at the trade-offs between issuing equity (shares) and issuing debt, and analyse financial statements and dividend pay-out policy. You'll also learn how bonds and stocks are valued.

Optional A Modules

(20 credits)

MATHEMATICAL ECONOMICS

Code ECO-5003A

Credits 20

Students can only enrol on this module if they obtained a mark of 60% on ECO-4003A or 70% on ECO-4001A - Please seek further advice if you have any concerns about your suitability for this module. The module provides an introduction to mathematical techniques for economists, covering linear algebra, comparative static analysis, optimisation, calculus, applications (e.g. growth models, market equilibria, constrained utility maximisation and cost minimisation). It is particularly useful if you intend to undertake postgraduate study in Economics.

STRATEGIC THINKING

Code ECO-5004A

Credits 20

Game theory provides a framework to understand how people behave in the strategic situation that arises when a person’s welfare depends not just on their own choices, but also on the decisions made by other people. In this module you’ll learn about different formal concepts of game theory through the exploration of examples in economics and in other social sciences. These might include bargaining situations (e.g. between workers and employers), interactions between firms in an industry, arms rivalry and military conflicts or the war against terrorism.

INTERNATIONAL TRADE AND INTEGRATION

Code ECO-5005A

Credits 20

Developing your understanding of the international economy, this module examines global flows of goods through international trade using a number of classical “core models” of international trade theory, as well as more recently developed models of “New” trade theory. It also deals with trade policy and its effects on overall economic welfare, and with controversial issues like strategic trade policy.

MULTIDISCIPLINARY ECONOMICS

Code ECO-5011A

Credits 20

Considering solutions to real-world problems, this module is designed to provide an interdisciplinary perspective to economic analysis. It considers a wide range of different approaches to economic study, including: economic sociology, economic geography, economic philosophy, economic psychology and international political economy. With no prior economic or mathematical knowledge expected, it is suitable for students who want to explore pluralist economic perspectives. The chosen topics demonstrate how economic analysis improves our understanding of decision-making and assists in the design of public policy.

Optional B Modules

(20 credits)

BEHAVIOURAL ECONOMICS

Code ECO-5005B

Credits 20

In this module you’ll explore findings from behavioural economics, a research area that has found people are often motivated by other factors than self-interest, and that their decisions are influenced by psychological biases and heuristics.

THE EUROPEAN ECONOMY

Code ECO-5006B

Credits 20

Have you been wondering about how the European Union is dealing with the euro crisis, Brexit or refugee flows? This module will provide you with the analytical tools to explore these challenges within the framework of European economic integration. You’ll learn why economic integration has been pursued around the world and how it could be reversed through the introduction of barriers to trade or factor mobility. The challenges of integration will be explored through individual and group research and presentations. You’ll develop your debating and argumentation skills in Q&A sessions, and encouraged to extend communication on the topic through online tools and networking. A reflection on your team work and interaction in the module will complement your understanding of underlying theories of economic integration. You’ll ultimately gain a critical appreciation of the challenges lying ahead in European economies and be able to communicate these to both economists and a wider audience.

ECONOMETRICS RESEARCH PROJECT

Code ECO-5008B

Credits 20

The ability to understand and analyse data is an important skill in the toolkit of an economist. In this module you will learn how to apply econometric techniques to real-world data. The module will guide you step-by-step through the process of carrying out a research project. You’ll develop a firm understanding of how to research and evaluate literature from a variety of sources, prepare data and undertake econometric analysis in the form of preliminary data analysis and culminating in a series of regression models using appropriate techniques that build on your knowledge from Introductory Econometrics. You’ll also learn how to summarise and communicate your ideas, drawing out possible policy implications. The module builds on the econometric techniques introduced in Introductory Econometrics. Building on these skills and knowledge, you will further develop your data analysis and understanding of econometrics by applying them to a research project that uses nationally-representative UK survey data. The survey provides information on household composition, employment and skills, income and wealth, education, health and lifestyle, social and political attitudes, well-being, environment and transport, children and families, allowing you to consider a broad range of potential topic areas. On successful completion of this module you will have enhanced your knowledge and awareness of estimation techniques and enhanced your skills in analysing real-world data using specialist statistical software. Through the production of the research project you will have developed your investigative and analytical skills, preparing you for a career requiring a high level of competency in data and statistical analysis.

HISTORY OF ECONOMIC THOUGHT

Code ECO-5009B

Credits 20

In the aftermath of the recent financial crisis and the Great Recession, the Economics discipline is under scrutiny. How can we criticise, re-invent, and develop economic thinking for the future? This module will explore this important question discussing lessons learnt from the past. In this module you will build knowledge of different economic theories established in the past. Moreover, you will learn how to compare and contrast alternative theories, developing an appreciation for the assumptions, the methods, and the solutions offered by different schools of thought to economic problems that are still affecting society nowadays. You will embark on a journey of discovery, studying the evolution of economic thought over the past four centuries, from Adam Smith’s concept of natural order to the current days’ debate on the Re-thinking Economics Movement. We will discuss how Economics has become the discipline that we know today, and what we can do to shape economic thinking for the future. Assessment tasks will address this debate, and they will focus on interaction and collaboration amongst students in partnership with your lecturer. By the end of the module you will have developed your critical thinking skills and your ability to identify strengths and flaws in different economic arguments and methodologies. Your ability to construct informed economic judgements will support you in further studies. It will represent an essential skill to establish as an experienced professional in the job market.

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Important Information

Students will select 120 credits from the following modules.

Assessment for Year 3

Compulsory Modules

PLACEMENT YEAR

Code ECO-5006Y

Credits 120

On this module you will typically spend between 9-12 months in a full-time placement, gaining invaluable working experience and employability skills in a relevant area of your choice. Although you will be expected to secure your own work placement, dedicated staff within the School and the Careers Service will support and assist you throughout the process of searching, applying for, and ultimately gaining a position. Furthermore support will also be provided whilst you are on placement and when you return to complete your studies in your fourth (final) year.

PLACEMENT YEAR - YEAR IN ENTERPRISE

Code ECO-5007Y

Credits 120

On this module you will typically spend between 9-12 months in a full-time placement, gaining invaluable working experience and employability skills as you work on developing a business idea into reality. There will be an application and selection process in much the same way as any other placement with dedicated staff within the School and the Careers Service available to support and assist you through the process. Furthermore support will also be provided whilst you are on placement and when you return to complete your studies in your fourth (final) year.

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Important Information

Students will select 100 credits in total across Option Ranges A & B. Students may only select 20 credits for ECO-5* modules in their final year. Students will select no more than 70 credits in any semester.

Assessment for Year 4

Compulsory Modules

INDUSTRIAL ORGANISATION AND BUSINESS STRATEGIES

Code ECO-6006A

Credits 20

Most economic activity is organized by firms, and most firms must compete with rivals to attract consumers. This competition is the essence of a market economy. Microeconomic textbooks tend to focus on price competition in markets with a single price, but a far wider range of strategies is available to modern businesses. Prices can depend on anything from product quality to an individual buyer’s browsing history. Firms must make investment decisions in capacity, new production technology, marketing and R&D. The economics of business strategies examines how firms make such price and investment decisions when they must also consider what strategies are likely to be adopted by rivals. Recent public debate has questioned who benefits from a market economy, for example highlighting apparently high prices paid by some consumers. This module provides the foundation for understanding who benefits from competition and we begin to consider the appropriate role of government regulation of competition. A sister module (“Competition in the Digital Age ) examines these in more depth and with the added complexity and real world context of the digital economy. This module investigates the nature of competition from a theoretical point of view and an applied policy perspective. The focus is on the strategic behaviour of firms in real markets that are not perfectly competitive. We ask questions like: What competitive weapons do firms use? Which strategies can firms use to soften competition? When are strategies to soften competition good for consumers, when are they bad? What determines whether firms compete or collude within an industry/market? To what extent are mergers driven by efficiency or by market power considerations? Of course, firms differ across a range of characteristics; for example, some supply just one product, while others are active in a multitude of markets; some firms spend heavily on advertising or R&D, while others spend very little on these activities. Throughout the course we will ask the question when, and how, government should intervene to facilitate the competitive process? The module covers theories that are key to the understanding of firms’ strategies and the basis for regulatory intervention. The module is rich in examples of real-world applications of the theories. To enhance the learning and interest of the module, staff from two external organisations (potential employers) will teach you case studies from the real world. You will be assessed on your ability to answer a technical assignment (25%) and an oral presentation of a recent discussion paper (25%). The final exam will account for 50% of the grade. To accommodate for students coming from different mathematical backgrounds the module uses a series of seminars to cover many relevant examples and teach tools and methodologies to answer relevant mathematical problems.

Optional A Modules

(20 credits)

FURTHER ECONOMETRICS AND DATA ANALYSIS

Code ECO-6003A

Credits 20

This module provides you with further econometric tools, helping enhance your understanding of empirical work in macro and micro-economics and enabling you to use modern econometric strategies to tackle a wide range of research questions. It covers two prominent econometric themes – time-series analysis and microeconometrics – and makes use of econometrics software ‘Stata’ throughout. This module will prove valuable if you wish to undertake postgraduate study or pursue a career in a field that requires statistical analysis.

ADVANCED TOPICS IN MICROECONOMICS

Code ECO-6005A

Credits 20

How have economists improved the designs of auction mechanisms, school admissions systems and even kidney exchanges? What light does their work shed on the remarkable successes of specific, creative new market places, such as e-Bay, Uber, Airbnb and Tinder? And why does microeconomic theory force us to re-think fundamental ideas of democracy and social-wellbeing? In this advanced theory module you’ll explore a range of topics from modern academic microeconomics that are currently influential within the science or in public policy and debate. You’ll learn to work with economic models that accommodate uncertainty, asymmetric information, and strategic interaction, and also entail bargaining, cooperation, and collective action. A recurring theme and motivation for such models will be the broader topic of “market design”; the theory and practice of creating and improving processes of collective choice and allocation. Initially, you’ll learn through informal analysis – conducted in small groups – of practical microeconomic problems that illustrate wider, deeper questions. You’ll then be guided to discover the classical, foundational papers that have addressed these questions, to form your own ideas about these seminal contributions and use the formal theory to tackle further problems. By this process you will gain confidence, experience and a deep, clear comprehension of frontier topics more than befitting a graduating microeconomist.

ADVANCED TOPICS IN MACROECONOMICS

Code ECO-6005B

Credits 20

What determines aggregate economic performance in a globalised world? How can policymakers influence employment, production and inflation? These are the central questions of modern macroeconomics addressed in this module. Global events continuously reshape macroeconomic analysis and pose new challenges to policymakers. Throughout this module you will deepen your understanding of what drives aggregate phenomena and the response of governments and central banks to pressing real world issues by using formal analysis. You’ll learn to use sound economic reasoning to connect theories to macroeconomic events, and to communicate economic ideas and concepts effectively. You’ll begin with a refresher of the analytical tools learned in intermediate macroeconomics modules, before expanding your knowledge to explore the interactions between financial and real economy. You’ll learn through a mix of lectures, take-home assignments, and workshops that encourage active participation. You will appreciate the reading of a different, non-textbook type of economic literature: original research articles, reports by international organisations, working papers circulated by central banks. This material will allow you to study the causes and consequences of events such as the recent global financial crisis, the prolonged stagnation affecting advanced economies, and the process of economic integration in Europe. You’ll learn to exploit your knowledge for different purposes by providing written work in two formats, namely, essay-type exercises testing your ability to communicate economic ideas to the public, and analytical exercises emphasising your problem-solving skills.

Optional B Modules

(80 credits)

MATHEMATICAL ECONOMICS

Code ECO-5003A

Credits 20

BEHAVIOURAL ECONOMICS

Code ECO-5005B

Credits 20

HISTORY OF ECONOMIC THOUGHT

Code ECO-5009B

Credits 20

MULTIDISCIPLINARY ECONOMICS

Code ECO-5011A

Credits 20

LABOUR ECONOMICS

Code ECO-6001A

Credits 20

The workings of the labour market impact upon your careers, life choices and outcomes. Do you want to understand how the choices you make - for example your education, migration decisions, job type – and even inherent characteristics, such as race and gender – impact upon your success in the labour market? This is a central theme of this module. You will begin by developing an understanding of labour supply (why we choose to work, and how much) and labour demand (how many workers employers hire, and how much they pay for that labour) before examining how individual characteristics, either inherent or through choice, and institutions such as minimum wage legislation, welfare payments, and the economy, affect both individuals and firms. You will examine education, discrimination, migration, unemployment and trade unions and the way government policy in each of these areas has shaped our economy. By the end of the module, you’ll have a better understanding of issues such as the economic value of your degree and factors that might make you more attractive to an employer, why women are on average paid less than men, the costs and benefits of migration to an economy and how the likelihood of unemployment through the life course. Through the coursework project, you will have an opportunity to examine and analyse an issue in depth by using a data set employed by the government to assess trends in the labour market.

INTERNATIONAL MACROECONOMICS

Code ECO-6001B

Credits 20

When we open a newspaper or Economics and Business-related magazine, many of the topics that arise recurrently relate to the monetary and financial relations between countries. A good deal of political debate is also focused on the various aspects that constitute International Finance. However, these discussions do not allow us to understand the theoretical underpinnings of these issues. This is what you will explore in this module. Dealing with some basic concepts of International Macro such as the balance of payments, exchange rates, and arbitrage conditions, you’ll analyse the impact of opening up an economy, and explore the main factors that determine exchange rates between currencies. And tackling many of the “hot topics” in international finance, you’ll consider the benefits and drawbacks of fixed and floating exchange rates; the concept of a speculative attack; current account imbalances from an inter-temporal perspective; how world macroeconomic imbalances drove the 2008/09 international financial crisis and the recent sovereign debt crisis in Europe.

DEVELOPMENT ECONOMICS

Code ECO-6002A

Credits 20

In this module you’ll explore central issues in the economics of development, along the following themes: 1) Perspectives on development: Examine trends in development thinking, development initiatives and critiques. Also discuss various notions of development. 2) Explaining underdevelopment and development policies: Focus on key models of development. You’ll also study some specific aspects in detail, such as inequality, poverty, labour, and agriculture, stressing the various inter-linkages and relationships between these topics. 3) Applied development economics: Consider implementation issues in contemporary development economics and examine the role of development agencies in aiding development.

DERIVATIVES AND FINANCIAL RISK MANAGEMENT

Code ECO-6002B

Credits 20

The module provides an introduction to the theory of financial risk and how this risk can be managed by the use of derivative instruments. The module will help you develop critical reasoning skills in the context of risk management and derivatives, and practical skills that are needed to use derivatives in financial risk hedging. After an introduction to the concepts of exposure and financial risk, you’ll analyse forwards, futures, swaps and options – examining their role in risk management. Finally, the module explores the basics of VaR (Value at Risk) and credit risk.

ECONOMICS OF THE ENVIRONMENT

Code ECO-6003B

Credits 20

Environmental concerns are increasingly prominent in public debates and policy. Climate change and sustainable development are two of the greatest challenges facing mankind in the twenty-first century. This module addresses similar real world problems, building on economic theory and quantitative methods explored in your first and second years. In `Economics of the Environment’ you’ll be introduced to the concepts and methods of environmental and natural resource economics. You’ll discuss topics such as pollution control, the sustainable use of natural resources, and the economics of climate change. Throughout, the emphasis will be on the empirical and policy relevance of the material.

BUSINESS AND ECONOMICS OF SPORT

Code ECO-6004A

Credits 20

The professional sports industry exhibits peculiar characteristics and an abundance of performance data, so provides (an almost) unique opportunity to test the theoretical principles that are presented in business and economics. This module applies principles of business and economic such as demand and supply, production, industrial organisation and labour markets to the analysis of the sport industry. You’ll discuss business and financial decision-making in relation to the behaviour of individual clubs, organisations and major sporting events. You’ll see how the underpinnings of sport can be used to develop a deeper understanding of how economic analysis contributes to and improves business, financial and commercial decision-making. Encompassing diverse approaches used to analyse product and labour markets and assess the contribution of major sporting events, the focus is on policy evaluation and the development and evaluation of organisational rules and regulations. Through the development of a case study and a report, you’ll be able to critically evaluate the financial and commercial structure of sporting entities and develop a deeper understanding of sports leagues and policy proposals with respect to demand and labour markets, and contribute to discussions relating to the impact of major sporting events. On successful completion of this module, you will have developed your writing, presentation and analytical skills and be able to communicate the ideas developed in this module to a wider audience.

THE ECONOMICS OF ALTERNATIVE INVESTMENTS

Code ECO-6004B

Credits 20

In ‘Alternative Investments’ you’ll construct an investment portfolio that includes a wide range of alternative assets, including real estate, energy, agriculture, precious metals, and currencies. The module is research-driven, using techniques from the cutting edge of investment management research. Seminars take place in a computer lab and are based around real-world Excel applications.

COMPETITION IN THE DIGITAL AGE

Code ECO-6006B

Credits 20

With the digitalization of the economy new sales strategies and new forms of industry organization are emerging rapidly. Traditional industrial organization analysis has sometimes struggled to give good explanations for the business practices that are emerging and regulators all over the world are concerned that they are also creating new ways of exploiting consumers and restricting competition. Some new giants like Google, Amazon, Facebook seem to have enormous power in the digital world and affecting our lives from simple shopping, to personal relationships, to self-driving cars. Online platforms, aggregators, algorithms and big data are factors that play key roles in the functioning of competition in the digital economy. The objective of this module is to understand the incentives and market behaviour of firms in the digital economy as well as discuss how competition and regulatory policy is trying to respond to rapid market changes in the digital age. The course is designed to understand the efficiencies that are generated from the new platforms that have a powerful intermediation role in the digital economy as well as the potential for the abuse of market power and consumer exploitation. To enhance the learning and interest of the module, staff from external organizations (potential employers) or from other Schools, will provide case studies from the real world. The lectures will begin with an overview of the economic theory needed to understand some of the drastic changes in competition in the market. This will normally include issues like network effects, platform competition, differences in vertical integration, vertical restraints in the context of the interplay of digital and “brick-and-mortar” retailing, as well as problems of the exploitation of behavioural consumers. You will develop the tools to be able to think critically about regular intervention in the digital economy: the EC antitrust order for Google Shopping, Amazon’s Whole Foods Market Inc. acquisition, and market investigation on price comparison websites, to mention few. The module also benefits of a set of five seminars where you will be given training in using machine-learning tools. The seminars will show you how to execute a text analysis and how to scrape data from the web and save it in a friendly format. You will be assessed on your ability to generate a relevant data set from the web and save the data in a user-friendly format (20%). As the main piece of coursework you will be asked to solve one word-problem and use the data you downloaded from the web to write an individual essay (30%). The final exam will account for 50% of the grade. Students who are interested in industrial organisation and business strategies may have a particular interest in this module.

THE ECONOMICS OF FINANCIAL MARKETS

Code ECO-6007A

Credits 20

Why do certain stocks earn higher returns than others? How many stocks should an investor have in their portfolio? What behavioural biases do financial market participants exhibit, and how does this affect asset prices? Why do we observe frequent bubbles and crashes in stock prices? How can an investor price a financial option, which derives its value from the value of another asset? These are the types of questions you will explore on this module. Covering the central topics in the economics of financial markets – asset pricing, behavioural finance and derivatives – you’ll learn how to estimate expected returns for a stock and price a financial option. You’ll be exposed to a mixture of theory and empirical evidence, discovering how to evaluate theories in light of this evidence. You’ll learn through a mixture of lectures, which have regular intervals for team or individual work, as well as seminars and self-study. Assessment comprises of technical and essay questions. By the end of the module, you’ll be equipped for further study in financial economics or a career in the finance industry.

POLITICAL ECONOMY

Code ECO-6008B

Credits 20

In this module you'll learn to analyse the political process, using the tools of economics. At the end of the course, you'll have an understanding of how real political systems work and you'll have learnt about the economic theories developed over the past century to analyse them - as well as some of these theories' gaps and problems. This module is ideal for those who want a career in politics or in the public sector, or who just want to gain perspective on today's political world. We will start by exploring how democratic elections work, and what motivates politicians to choose policy. Then we'll examine more advanced topics which are relevant to today's world, such as federalism and secession, and the recent return of authoritarianism. We will combine formal rigour and attention to data with contemporary relevance and a sense of realism – this is about understanding a messy and fast-changing world, not about constructing complicated theories. At the end of this course, you'll be familiar with how economists think about and study political processes. You'll have a set of ideas that can help you understand the real pressures politicians face as they try to implement sensible public policy (and still get reelected). And you'll have got new perspectives on contemporary politics, both from history and from comparisons across the world.

PROGRAMMING AND DATA ANALYTICS

Code ECO-6009A

Credits 20

This module aims to develop and reinforce in you appropriate skills that are required to tackle data science projects using an open source statistical programming language. This module aims to teach you the basics of programming, data gathering and management, data analysis and data visualization, that you will find useful and relevant for economic research. The ability to solve problems using data and help you to “think with data” is the driving philosophy behind this module.

ECONOMICS DISSERTATION

Code ECO-6009Y

Credits 20

This module gives you the chance to hone your skills as an economist and undertake an independent research project of your choosing. This can be either an academic dissertation or a consultancy project for an external organisation. This can be viewed as a ‘capstone’ module that brings together the skills you have learnt throughout your degree programme, applied to one particular topic that demonstrates how real world economics can be used to benefit society. This may be through an academic-style piece of research or through a work-based project on behalf of a company, charity, or other external organisation. We will help you to develop the skills required to be a good researcher, before allowing you to conduct your own independent study with appropriate supervision. This will require you to reflect on the skills you have developed throughout the course of your degree programme, and identify your strengths and areas for improvement. By undertaking a significant and original piece of independent research, you will be able to demonstrate a number of skills that are valuable for both academia and business. You will demonstrate a proficiency in the use of data, methods and/or case studies; be able to apply economic reasoning to economic and social issues in a critical manner; be able to effectively communicate knowledge in a scientific manner; critically evaluate your own work and that of others, and respond to criticism and use this feedback to further improve the quality of your work. Those working on a consultancy project will learn how to develop a relationship with a client, identify and work to the needs of the business, develop commercial awareness and act in a professional manner. This module is for any student with an interest in furthering their knowledge of a specific topic that they are passionate about. The experience of conducting a dissertation project will be useful for careers in academia and business alike, in particular where students wish to pursue a career that involves research, e.g. consultancy, think-tanks, or those interested in further study.

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Important Information

Entry Requirements

A Levels

AAB excluding General Studies or ABB excluding General Studies with an A in the Extended Project

BTEC

DDD. Excludes BTEC Public Services, BTEC Uniformed Services and BTEC Business Administration

Scottish highers

AAAAA

Scottish highers advanced

BBC

Irish leaving certificate

4 subjects at H2 and 2 subjects at H3

Access course

Pass the Access to HE Diploma with Distinction in 36 credits at level 3 and Merit in 9 credits at Level 3

European Baccalaureate

80%

International Baccalaureate

33 points

GCSE offer

You are required to have Mathematics at a minimum of Grade B or Grade 5 at GCSE and English Language at a minimum of Grade C or Grade 4 at GCSE.

Additional entry requirements

If you do not meet the academic and/or English requirements for direct entry our partner, INTO University of East Anglia offers guaranteed progression on to this undergraduate degree upon successful completion of a preparation programme. Depending on your interests, and your qualifications you can take a variety of routes to this degree:

International Foundation in Business, Economics, Society and Culture (for Year 1 entry to UEA)

International Foundation in Mathematics and Actuarial Sciences (for Year 1 entry to UEA)

Alternative Qualifications

UEA recognises that some students take a mixture of International Baccalaureate IB or International Baccalaureate Career-related Programme IBCP study rather than the full diploma, taking Higher levels in addition to A levels and/or BTEC qualifications. At UEA we do consider a combination of qualifications for entry, provided a minimum of three qualifications are taken at a higher Level. In addition some degree programmes require specific subjects at a higher level.

Students for whom english is a foreign language

Applications from students whose first language is not English are welcome. We require evidence of proficiency in English (including writing, speaking, listening and reading):

IELTS: 6.0 overall (minimum 5.5 in all components)

We also accept a number of other English language tests. Please click here to see our full list.

If you do not yet meet the English language requirements for this course, INTO UEA offer a variety of English language programmes which are designed to help you develop the English skills necessary for successful undergraduate study:

Interviews

Most applicants will not be called for an interview and a decision will be made via UCAS Track. However, for some applicants an interview will be requested. Where an interview is required the Admissions Service will contact you directly to arrange a time.

Gap year

We welcome applications from students who have already taken or intend to take a gap year.  We believe that a year between school and university can be of substantial benefit. You are advised to indicate your reason for wishing to defer entry on your UCAS application.

Intakes

This course is open to UK and overseas applicants. The annual intake for this course is in September each year.

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Norwich Economic Papers

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Course Reference Number: 1545525

BSc BUSINESS ECONOMICS WITH A PLACEMENT YEAR