Economics BSc (Hons) — 2027 entry

Financial and business history examines the evolution of the modern economy via theories of the firm. It covers organization, finance, management and entrepreneurship using a historical perspective to illuminate how these factors have changed over time. The content focuses on the role of technological and institutional changes in shaping the constraints and opportunities faced by firms, and how firms have adapted their strategies in response. 

This module examines the UK's current economic troubles and looks at possible solutions. The module will start by outlining the UK's most pressing economic issues - the stagnation of living standards, high levels of inequality and higher trade barriers post Brexit. The module's second half then looks at possible solutions to these problems, discussing shortcomings and trade-offs involved in the various approaches that have been proposed by economists.

This module is designed for students who already have a grounding in economic or political analysis. It introduces the economic dimensions of warfare across the long twentieth century, examining how economics has shaped ¿ and been shaped by ¿ conflict, from the two World Wars and the Cold War to smaller regional conflicts, sanctions regimes, and lawfare. Alongside this economic history approach, the module explores how economics has been applied to defence and security in the contemporary period, equipping students with the analytical tools to understand the economic logic of modern warfare and statecraft.

The module explores the incidence of corruption from an economic perspective. It is based on the relevant academic literature and incorporates both microeconomic and macroeconomic approaches. Different aspects of corruption are examined, such as causes and consequences, and a deeper understanding of the topic is developed.

This module develops equilibrium concepts for static, dynamic, complete and incomplete information. These are applied to various aspects of economic importance: markets, bargaining, job-market signalling, expert advice and electoral competition.  The module will advance students’ knowledge of microeconomics. 

By the end of the module students will have learnt how to carry out empirical analyses using appropriate econometric software to study economic and financial time series data; how to interpret the results of such analyses; and will have acquired an ability to critically assess empirical papers.  

The module broadly covers two parts. In the first part we concentrate on the theoretical foundations of international trade, i.e. address the questions “why do we trade” and “is trade good for us”. In the second part we focus on the policy instruments that are available to the designers of trade policy; our analysis involves issues related to the potential costs and/or benefits to a range of stakeholders of trade barriers, e.g. tariffs and quotas. We also investigate the issues of international trade agreements.

This module introduces students to the field of behavioural economics which incorporates psychological evidence into economics. The standard approach in economics explains market outcomes and economic decision-making using theoretical models which usually assume that people are fully rational. Behavioural economics, on the other hand, seeks to increase the explanatory power of traditional models by considering a number of real life decision making situations where some standard rationality assumptions on preferences do not hold. This module builds mainly on the individual decision making models taught in microeconomics and financial economics modules in year 1 and year 2, identifies departures from these classical models, and use them as an inspiration to create alternative theories of decision making.

This module  will draw on students knowledge of Microeconomics from Level 5 and develop a theoretical and empirical framework to analyse the economics of the environment. Understanding sources of inefficient allocation of resources, and how it is linked to the most serious environmental problems observed in the contemporary world like climate change, examining the different remedial instruments available to correct these problems, evaluating different methods of valuing environmental amenities and understanding the basics of climate science and consequences are some of the key topics covered in this module. In addition, the module incorporates the development of subject-specific AI skills, enabling students to use AI tools to analyse real-world environmental problems. This will enable the students to have a well-rounded knowledge of theoretical models and a critical perspective which they can apply to analyse contemporary environmental issues and policies in place. 

Economics of Competition and Regulation Policy is a microeconomics course concerned with the performance of markets and the strategic behaviour of firms. The course draws on the fields of industrial organization and market design and focuses on imperfect competition, co-operation between firms, and common regulations such as anti-trust laws. This is a theory-based optional module for third year BSc students. The aim of the module is to provide a solid understanding of some of the core economic models of imperfect competition and to help students understand the challenges involved with designing and structuring markets.

The module has the aim of introducing students to core concepts in the blockchain technology. Students will become familiar with applications of cryptography to financial transactions and the technicalities behind cryptocurrencies and their workings. Using case studies and simulations, students will be exposed to the use of software wallets and engage in blockchain and cryptocurrency related transactions.

This module provides a structured introduction to financial and commodity derivatives markets, focusing on the pricing, risk management, and practical application of derivative securities. Instruments such as forwards, futures, options, and swaps are examined. The module adopts a lecture-led approach, where core theoretical concepts are introduced systematically and reinforced through guided examples and applied problem-solving. Students are progressively exposed to increasingly complex financial instruments and market practices, enabling them to develop both analytical rigour and professional awareness. Emphasis is placed on linking theory to real-world applications, including hedging decisions, trading strategies, and risk management practices within firms. The module also considers the broader implications of financial innovation, including lessons from past crises.

The module analyzes the foundations of the nature of the labour markets, and the mechanisms governing their functioning and development during past and contemporary history. The students will be exposed to economic theory and empirical evidence to understand the aim, role and behaviour of workers, firms and governments within the labour markets.  This will make students aware of the crucial importance of labour markets in the broader economy and society, as well as into the personal and professional development of the lives and careers of individual agents.

Why have some countries developed and others not? What can policy do today to foster economic development, and how much is out of a country’s control? How does this affect the people behind such development - how does work change, and who loses in the process? The course begins with an empirical overview of the change in living standards in different countries across time, and how to define such development. The core of the course then focuses on how countries develop, considering various approaches ranging from micro-interventions to sectoral, institutional and trade policies. The last few weeks place labour at the centre of development, looking at rural-urban migration, informality and the underdevelopment of marginalized groups. This course will have strong empirical and theoretical components, and will draw strongly on recent academic articles as well as standard texts. It aims to equip students with an awareness of policy options and constraints around economic development.

Utilising the material taught across different principal subjects in Economics, this module provides a comprehensive introduction to theoretical and applied issues related to the global banking industry. Understanding the role of the financial system in the economy in ensuring the efficient allocation of resources, its effect on policy making and the risks involved from a potential disruption of its operation are key learning outcomes from this module, especially for students who are interested in applying for employment in the financial sector.

Traditional theories of public economics justify government interventions in the economy on the grounds of market failure, equity and/or political considerations, each of which can be examined theoretically and/or empirically. The module will discuss government intervention related market failure, social insurance and social security, and taxation. In the weekly applied lectures, we will derive testable predictions from the theoretic models and use journal articles to take those predictions to the data. The module will also introduce cost-benefit analysis as a means to assess and compare public investments and government programmes. The module is based on and makes use of knowledge acquired in previous microeconomics modules in Levels 4 and 5 and requires a good understanding of the applied econometrics learned in Level 5. 

This unit introduces the students to the process of independent academic investigation and helps them develop research skills through the completion of a substantial research project. Students are expected to use the empirical and analytical skills that they acquired in other modules.

This module builds on the econometrics foundation from the Introductory Econometrics and Intermediate Econometrics courses and emphasizes on introducing micro-econometric techniques used to analyse microeconomic data. The first half of this module considers techniques to achieve causal inference. The second half studies maximum likelihood estimation of limited dependent variable models (logit, probit, Poisson, censoring and selectivity), as well as basic machine learning methods. This will enable students to acquire the skill sets necessary to investigate important and intriguing empirical questions that have real-world impacts on society.

The module incorporates the foreign exchange market into a macroeconomic setting in order to shed light on the constraints within which open economies operate. At the heart of the analysis is the exchange rate and its determinants, including the different types of possible government intervention. In this context, the role of inflation, interest rates and market expectations are discussed. In addition, the government may also intervene in the foreign exchange market to manage the exchange rate by, e.g., buying or selling the international reserve currency. The decision whether to undertake or not such operations impacts on how the economy responds to different types of shocks (internal or external). The module covers these issues in detail and, in addition, provides a historical context for international arrangements concerning the exchange rate, as well as a review of episodes of exchange-rate crises.

The module covers topics within the economics of education. It will cover topical areas within economics of education with a strong empirical foundation and relevance for public policy. The topics will include the following: the extent of inequality in educational outcomes and why this matters (this is an important aspect of sustainability); evidence on the economic and social benefits of education; drivers of educational outcomes in the family, among peers and within educational institutions. We will look at how different types of education and training are rewarded in the labour market and the public policy implications of this. The module will build on the microeconomic theory and econometrics that students learned in the second year of their programme. 

This module introduces students to computational methods for solving and simulating economic models. The student will learn basic results and techniques in numerical analysis, acquire a working knowledge of programming language, and learn how to apply these tools to analyse quantitative implications of macroeconomic dynamic models and macroeconometrics. Matlab will be the main language taught in the course, while learning other languages (e.g. Python, Julia, etc) will be optional.

The module analyses applications of the theory of finance to corporate policy. Broadly defined, this area comprises all operations directed towards the procurement of funds and their investment in the various types of assets.

The module examines the nature and behaviour of households in modern economies. It will use economic theory and empirical evidence to illuminate why families are organized as they are and why this varies between countries.  In the second part of the module students will be encouraged to apply the theory and evidence they have learned to their own lives. This will give students the opportunity to reflect on the preferences and constraints that will affect their future lives as they prepare to leave university. Students will make use of the Microeconomic knowledge and Econometrics skills that they have developed in Level 5, applying them in a new context. 

Financial and business history examines the evolution of the modern economy via theories of the firm. It covers organization, finance, management and entrepreneurship using a historical perspective to illuminate how these factors have changed over time. The content focuses on the role of technological and institutional changes in shaping the constraints and opportunities faced by firms, and how firms have adapted their strategies in response. 

This module examines the UK's current economic troubles and looks at possible solutions. The module will start by outlining the UK's most pressing economic issues - the stagnation of living standards, high levels of inequality and higher trade barriers post Brexit. The module's second half then looks at possible solutions to these problems, discussing shortcomings and trade-offs involved in the various approaches that have been proposed by economists.

This module is designed for students who already have a grounding in economic or political analysis. It introduces the economic dimensions of warfare across the long twentieth century, examining how economics has shaped ¿ and been shaped by ¿ conflict, from the two World Wars and the Cold War to smaller regional conflicts, sanctions regimes, and lawfare. Alongside this economic history approach, the module explores how economics has been applied to defence and security in the contemporary period, equipping students with the analytical tools to understand the economic logic of modern warfare and statecraft.

The module explores the incidence of corruption from an economic perspective. It is based on the relevant academic literature and incorporates both microeconomic and macroeconomic approaches. Different aspects of corruption are examined, such as causes and consequences, and a deeper understanding of the topic is developed.

By the end of the module students will have learnt how to carry out empirical analyses using appropriate econometric software to study economic and financial time series data; how to interpret the results of such analyses; and will have acquired an ability to critically assess empirical papers.  

This module develops equilibrium concepts for static, dynamic, complete and incomplete information. These are applied to various aspects of economic importance: markets, bargaining, job-market signalling, expert advice and electoral competition.  The module will advance students’ knowledge of microeconomics. 

The module broadly covers two parts. In the first part we concentrate on the theoretical foundations of international trade, i.e. address the questions “why do we trade” and “is trade good for us”. In the second part we focus on the policy instruments that are available to the designers of trade policy; our analysis involves issues related to the potential costs and/or benefits to a range of stakeholders of trade barriers, e.g. tariffs and quotas. We also investigate the issues of international trade agreements.

This module introduces students to the field of behavioural economics which incorporates psychological evidence into economics. The standard approach in economics explains market outcomes and economic decision-making using theoretical models which usually assume that people are fully rational. Behavioural economics, on the other hand, seeks to increase the explanatory power of traditional models by considering a number of real life decision making situations where some standard rationality assumptions on preferences do not hold. This module builds mainly on the individual decision making models taught in microeconomics and financial economics modules in year 1 and year 2, identifies departures from these classical models, and use them as an inspiration to create alternative theories of decision making.

This module  will draw on students knowledge of Microeconomics from Level 5 and develop a theoretical and empirical framework to analyse the economics of the environment. Understanding sources of inefficient allocation of resources, and how it is linked to the most serious environmental problems observed in the contemporary world like climate change, examining the different remedial instruments available to correct these problems, evaluating different methods of valuing environmental amenities and understanding the basics of climate science and consequences are some of the key topics covered in this module. In addition, the module incorporates the development of subject-specific AI skills, enabling students to use AI tools to analyse real-world environmental problems. This will enable the students to have a well-rounded knowledge of theoretical models and a critical perspective which they can apply to analyse contemporary environmental issues and policies in place. 

Economics of Competition and Regulation Policy is a microeconomics course concerned with the performance of markets and the strategic behaviour of firms. The course draws on the fields of industrial organization and market design and focuses on imperfect competition, co-operation between firms, and common regulations such as anti-trust laws. This is a theory-based optional module for third year BSc students. The aim of the module is to provide a solid understanding of some of the core economic models of imperfect competition and to help students understand the challenges involved with designing and structuring markets.

The module has the aim of introducing students to core concepts in the blockchain technology. Students will become familiar with applications of cryptography to financial transactions and the technicalities behind cryptocurrencies and their workings. Using case studies and simulations, students will be exposed to the use of software wallets and engage in blockchain and cryptocurrency related transactions.

This module provides a structured introduction to financial and commodity derivatives markets, focusing on the pricing, risk management, and practical application of derivative securities. Instruments such as forwards, futures, options, and swaps are examined. The module adopts a lecture-led approach, where core theoretical concepts are introduced systematically and reinforced through guided examples and applied problem-solving. Students are progressively exposed to increasingly complex financial instruments and market practices, enabling them to develop both analytical rigour and professional awareness. Emphasis is placed on linking theory to real-world applications, including hedging decisions, trading strategies, and risk management practices within firms. The module also considers the broader implications of financial innovation, including lessons from past crises.

The module analyzes the foundations of the nature of the labour markets, and the mechanisms governing their functioning and development during past and contemporary history. The students will be exposed to economic theory and empirical evidence to understand the aim, role and behaviour of workers, firms and governments within the labour markets.  This will make students aware of the crucial importance of labour markets in the broader economy and society, as well as into the personal and professional development of the lives and careers of individual agents.

Why have some countries developed and others not? What can policy do today to foster economic development, and how much is out of a country’s control? How does this affect the people behind such development - how does work change, and who loses in the process? The course begins with an empirical overview of the change in living standards in different countries across time, and how to define such development. The core of the course then focuses on how countries develop, considering various approaches ranging from micro-interventions to sectoral, institutional and trade policies. The last few weeks place labour at the centre of development, looking at rural-urban migration, informality and the underdevelopment of marginalized groups. This course will have strong empirical and theoretical components, and will draw strongly on recent academic articles as well as standard texts. It aims to equip students with an awareness of policy options and constraints around economic development.

This module builds on the econometrics foundation from the Introductory Econometrics and Intermediate Econometrics courses and emphasizes on introducing micro-econometric techniques used to analyse microeconomic data. The first half of this module considers techniques to achieve causal inference. The second half studies maximum likelihood estimation of limited dependent variable models (logit, probit, Poisson, censoring and selectivity), as well as basic machine learning methods. This will enable students to acquire the skill sets necessary to investigate important and intriguing empirical questions that have real-world impacts on society.

Utilising the material taught across different principal subjects in Economics, this module provides a comprehensive introduction to theoretical and applied issues related to the global banking industry. Understanding the role of the financial system in the economy in ensuring the efficient allocation of resources, its effect on policy making and the risks involved from a potential disruption of its operation are key learning outcomes from this module, especially for students who are interested in applying for employment in the financial sector.

Traditional theories of public economics justify government interventions in the economy on the grounds of market failure, equity and/or political considerations, each of which can be examined theoretically and/or empirically. The module will discuss government intervention related market failure, social insurance and social security, and taxation. In the weekly applied lectures, we will derive testable predictions from the theoretic models and use journal articles to take those predictions to the data. The module will also introduce cost-benefit analysis as a means to assess and compare public investments and government programmes. The module is based on and makes use of knowledge acquired in previous microeconomics modules in Levels 4 and 5 and requires a good understanding of the applied econometrics learned in Level 5. 

The module incorporates the foreign exchange market into a macroeconomic setting in order to shed light on the constraints within which open economies operate. At the heart of the analysis is the exchange rate and its determinants, including the different types of possible government intervention. In this context, the role of inflation, interest rates and market expectations are discussed. In addition, the government may also intervene in the foreign exchange market to manage the exchange rate by, e.g., buying or selling the international reserve currency. The decision whether to undertake or not such operations impacts on how the economy responds to different types of shocks (internal or external). The module covers these issues in detail and, in addition, provides a historical context for international arrangements concerning the exchange rate, as well as a review of episodes of exchange-rate crises.

This unit introduces the students to the process of independent academic investigation and helps them develop research skills through the completion of a substantial research project. Students are expected to use the empirical and analytical skills that they acquired in other modules.

The module covers topics within the economics of education. It will cover topical areas within economics of education with a strong empirical foundation and relevance for public policy. The topics will include the following: the extent of inequality in educational outcomes and why this matters (this is an important aspect of sustainability); evidence on the economic and social benefits of education; drivers of educational outcomes in the family, among peers and within educational institutions. We will look at how different types of education and training are rewarded in the labour market and the public policy implications of this. The module will build on the microeconomic theory and econometrics that students learned in the second year of their programme. 

This module introduces students to computational methods for solving and simulating economic models. The student will learn basic results and techniques in numerical analysis, acquire a working knowledge of programming language, and learn how to apply these tools to analyse quantitative implications of macroeconomic dynamic models and macroeconometrics. Matlab will be the main language taught in the course, while learning other languages (e.g. Python, Julia, etc) will be optional.

The module analyses applications of the theory of finance to corporate policy. Broadly defined, this area comprises all operations directed towards the procurement of funds and their investment in the various types of assets.

The module examines the nature and behaviour of households in modern economies. It will use economic theory and empirical evidence to illuminate why families are organized as they are and why this varies between countries.  In the second part of the module students will be encouraged to apply the theory and evidence they have learned to their own lives. This will give students the opportunity to reflect on the preferences and constraints that will affect their future lives as they prepare to leave university. Students will make use of the Microeconomic knowledge and Econometrics skills that they have developed in Level 5, applying them in a new context.