BSc (Hons) Economics and Finance with a Year Abroad

Key details

BSC (HONS) ECONOMICS AND FINANCE WITH A YEAR ABROAD

Start Year

2023

Attendance

Full Time

Award

Degree of Bachelor of Science

UCAS course code

LN3A

Entry Requirements

AAB

Duration (years)

BSc Economics and Finance, combined with a year abroad, provides you with a thorough training in economic analysis with an additional focus on understanding corporate finance, financial instruments, and financial markets. On this degree programme, you’ll become an expert in economic and financial modelling techniques and statistical analysis. In your third year, you'll spend a year abroad at one of our many partner universities across the world. This is your chance to study while immersed in a completely different culture – giving you the academic and personal experience of a lifetime. You’ll develop a skills profile that is highly valued by employers: suitable either to enter employment directly or progress to postgraduate study.

Our BSc Economics and Finance with a Year Abroad is ranked in the top 15 for Accounting and Finance, and in the top 20 for Economics by 'The Guardian University Guide 2023'.

About

On this course, you'll combine a rigorous training in economics with a focus on finance. You'll study microeconomics, macroeconomics, economic modelling and statistics, and you'll also study the economics of corporate finance and of financial markets. You’re likely to choose further modules in derivatives, financial risk management and alternative investments. You may then choose to deepen your quantitative skills through modules such as programming and data analysis, or to broaden your knowledge of economics generally by choosing from the full suite of modules on offer in the School of Economics.

Combining BSc Economics with a year abroad, in your third year you'll spend a year abroad at one of our many partner universities across the world. This is your chance to study your degree while immersed in a completely different culture – giving you the academic and personal experience of a lifetime.

Based in the School of Economics, 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.

You’ll be joining 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.

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Carbon Labelling

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Norwich Economic Papers

The Norwich Economic Papers provides an opportunity for ECO students to engage in and publish scholarly work in economics.

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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

In your first year, you'll be assessed through a balanced mix of coursework and exams. Coursework is deliberately varied, and can include essays, presentations, and group work.
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

This four-year course is made up of modules exploring diverse areas of economics and finance. It also provides flexibility for you to develop your own specific interests and sample learning from a broad choice of economics modules.
In your first year, you’ll get to grips with key concepts in the year-long modules Introductory Macroeconomics and Introductory Microeconomics. You'll also take the modules Introductory Mathematics for Economists and Introductory Statistics for Economists, which introduce you to basic economic modelling and statistical techniques.

This introduction to economic analysis lays the foundation for financial study later in the degree, and is complemented by the modules Current Financial Affairs and The Economics of Business Decision-Making.

Teaching and Learning

In your first year, lectures mainly take place in a large-group setting and are often used to introduce new concepts, ideas and arguments. But they are also highly interactive. Audience response systems and other technologies will be keeping you engaged and keeping the lecturer informed about your confidence at every step. There’ll be regular breaks for peer-group discussion. Then, in workshops, you’ll be given a more hands-on experience: working in groups, with your teachers by your side, practicing and applying the new methods you’ve learned. You’ll also meet regularly in small group environments, led by an academic but within which you’ll be able to discuss, debate and explore ideas with a freer rein. In Year 1, these events are also complemented by additional study skills and support sessions.
Your curriculum is designed with employability also in mind. In Year 1, for example, your statistics module will be taught using Excel, to ensure you develop essential transferable skills.
Throughout your studies, we provide the very best support and guidance. A personal adviser and an in-school student support scheme is 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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Open Days

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 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.

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.

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.

CURRENT FINANCIAL AFFAIRS

Code ECO-4004A

Credits 20

This module provides an introduction to the application of finance to real-world dilemmas. Without assuming previous understanding of financial theory, it develops perspectives needed to support alternative policy-formation solutions. Developing critical appraisal skills in interpreting real-world finance events, topics covered will adapt according to the characteristics of contemporary problems. Embedded within individual and institutional analysis, possible areas of study include: corporate governance; financial markets; portfolio formation; and market efficiency. «End of description for evision» Textbooks in the introduction of finance will be of use. Examples include: Herbert B. Mayo’s Basic Finance: An Introduction to Financial Institutions, Investments and Management and Ronald W. Melicher’s Introduction to Finance: Markets, Investments, and Financial Management. However, given the contemporary nature of the module, it will focus on current research and adopt blended learning support as appropriate.

ECO STEPS

Code ECO-4567Y

Credits 0

ECO-4567Y is a skills and support module open to all students registered in the School of Economics. This module offers students the chance to partake in a set of sessions linked to acquiring and enhancing their academic and personal skillset. These range from academic learning, wellbeing advice, employability skills and the English Language Support Programme. The site is also a platform for delivering classes with the university's Learning Enhancement Team, disability support and Student Services divisions. The workshops and the materials for this module would be structured and timetabled in such way to improve students’ university life and to optimise the performance in the academic modules.

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Open Days

Important Information

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring and review of modules. Where this activity leads to significant change to a programme and modules, the University will endeavour to consult with affected students. 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. Availability of optional modules may be restricted owing to timetabling, lack of demand, or limited places. Where this is the case, you will be asked to make alternative module choices and you will be supported during this process.

Assessment for Year 2

In your second year, assessment continues via coursework and exams. The variety of coursework widens and may include essays, presentations, group work, technical exercises, a research project, and viva voce conversations.

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. 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.

ECO STEPS

Code ECO-4567Y

Credits 0

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

In this module you’ll learn to formally analyse strategic situations that arise when an agent’s welfare depends not just on their own choices, but also on the decisions made by other agents. The formal framework will be explained on examples from economics and from other social sciences. These can include bargaining situations (e.g. between workers and employers), interactions between firms in an industry, arms rivalry or military conflicts.

GLOBAL TRADE

Code ECO-5005A

Credits 20

Developing your understanding of international trade theories and policies, this module introduces global flows of goods and services going out from core models of international trade theory. It extends the analytical framework to explain the role of international capital flows through foreign direct investment and evaluates the mechanisms and effects of international labour migration. The module assesses the role of policy in global trade and its effects on economic welfare and assesses controversies of trade from environmental impacts to the quest of developing leading technologies and protect social standards in the face of international competition.

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.

REGIONAL ECONOMIC INTEGRATION

Code ECO-5006B

Credits 20

Have you been wondering about how the global economy is structured and the role of regional trade agreements around the world? This module will provide you with the analytical tools to explore the challenges and opportunities of economic integration in a global context, emphasising the significance of regional arrangements shaping international flows of goods and factors of production. Recent trends of integration and disintegration around the world will be explored in a regional context, from trade and factor mobility to monetary or fiscal co-ordination, as in the example of the EU. You would explore these topics through individual or group research, including presentations or international collaborations. You will ultimately gain a critical appreciation of the challenges lying ahead in the global or regional economic context, and will 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.

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Important Information

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

Assessment for Year 4

By your final year, the range of assessment type broadens even further. You may choose to write a dissertation, in which case this will replace one of your taught modules. A balance of coursework and exams remains, but – in a range of assessments that may include case studies, projects, and poster presentations – you’ll be given more autonomy to choose your own topics and develop original submissions. You’ll be encouraged to find your own voice and to articulate arguments competently and rigorously in different situations.

Compulsory Modules

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.

ECO STEPS

Code ECO-4567Y

Credits 0

Optional A Modules

(20-40 credits)

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.

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.

Optional B Modules

(60-80 credits)

MATHEMATICAL ECONOMICS

Code ECO-5003A

Credits 20

BEHAVIOURAL ECONOMICS

Code ECO-5005B

Credits 20

REGIONAL ECONOMIC INTEGRATION

Code ECO-5006B

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, family responsibilities and the economy, affect both individuals and firms. You will examine education, discrimination, migration, unemployment, trade unions, feminist issues in labour markets 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 care responsibilities or the likelihood of unemployment varies through the life course. Through the coursework you will have an opportunity to examine and analyse current labour market issues, as well as exploring related data and formulating policy options going forward.

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.

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.

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.

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 will learn to use sound economic reasoning to connect theories to macroeconomic events, and to communicate economic ideas and concepts effectively. You will understand the details of macroeconomic models that emphasise the interactions between labour markets, spending decisions and financial markets. You’ll learn through a mix of lectures, workshops and problem-solving tasks that encourage active participation. You will appreciate the reading of different types of economic literature like original research articles, reports by international organisations, working papers circulated by central banks. After learning the necessary analytical tools, you will study important applications to real-world issues such as the policy response to unexpected events like the global pandemic, the causes and consequences of the Great Recession, the challenges posed by persistently low interest rates on financial markets. You will learn to exploit your knowledge for different purposes by providing written work in assignments that will stimulate and test your problem-solving skills and your ability to communicate economic concepts and ideas.

INDUSTRIAL ORGANISATION AND BUSINESS STRATEGIES

Code ECO-6006A

Credits 20

Most economic activities are organised 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 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 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, and 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 of when, and how, the government should intervene to facilitate the competitive process. The module covers theories that are key to understanding firm 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. To accommodate 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.

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. Students who are interested in industrial organisation and business strategies may have a particular interest in this module.

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.

GOVERNMENT, WELFARE AND POLICY

Code ECO-6009B

Credits 20

Are you interested in the ‘hows’ and ‘whys’ of the design of government economic and social policy? These are the central themes of this module. Governments across the world are involved in the production and distribution of goods and services, but differ in the extent of their involvement. When and how should government intervene, and what is best left to the free market? This module looks in detail at policy design and analysis, and examines the challenges faced by governments when intervening in the market. You’ll begin by looking at the motivations for state intervention and whether this can be achieved without sacrificing efficiency, and gain an understanding of the framework within which the UK government assesses policy initiatives. You’ll go on to examine the role of the government in a number of key areas of economic, social and political action. You’ll learn about different approaches to similar problems across different countries, and assess the success of policy in achieving its desired outcomes. For example, recent topics have included: education; the environment; social policy; health; and immigration. By the end of the module you will appreciate the intricacies of the challenges faced by governments when designing policy, and the interaction of social, political and economic spheres. You’ll be able to critically assess policy interventions against their objectives and judge between alternative ways of achieving policy goals. The module offers you the chance to investigate a policy area or topical issue that you are interested in, and design an academic poster to convey your findings. You will also face the challenge of explaining what are sometimes complex economic concepts and ideas to non-experts, a key skill to take forwards into employment. This module is ideal for anyone interested in a career in the public sector, economics consultancies or policy evaluation.

EXTERNAL CONSULTANCY/DISSERTATION

Code ECO-6010Y

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. If you are taking an EPQ and three A-levels, we may offer you a one grade reduction on our advertised typical offer, if you achieve an A in the EPQ.

T Levels

Obtain an overall Pass including an A in the core of the T Level and a Distinction in the Occupational Specialism. Acceptable subjects are: Digital Business Services, Digital Support Services and Science.

BTEC

DDD excluding BTEC Public Services, Uniformed Services and Business Administration

Scottish highers

AAAAA

Scottish highers advanced

BBC

Irish leaving certificate

4 subjects at H2 amd 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

GCSE offer

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

Additional entry requirements

UEA are committed to ensuring that Higher Education is accessible to all, regardless of their background or experiences. One of the ways we do this is through our contextual admissions schemes.

We welcome and value a wide range of alternative qualifications. If you have a qualification which is not listed here, please contact us via Admissions Enquiries.

Important note

Once enrolled onto your course at UEA, your progression and continuation (which may include your eligibility for study abroad, overseas experience, placement or year in industry opportunities) is contingent on meeting the assessment requirements which are relevant to the course on which you are enrolled.

International Requirements

We accept many international qualifications for entry to this course. View our International Students pages for specific information about your country.

For courses with INTO progression agreements:

INTO University of East Anglia

If you do not meet the academic and/or English language requirements for direct entry our partner, INTO UEA offers 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)

International Foundation Mathematics and Actuarial Sciences (for year 1 entry)

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) for year 1 entry

We also accept a number of other English language tests. Review our English Language Equivalencies for a list of example qualifications that we may accept to meet this requirement.

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 International applicants. The annual intake is in September each year. 

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Course Reference Number: 6775024

BSc (Hons) ECONOMICS AND FINANCE WITH A YEAR ABROAD