Business Finance and Economics

Core modules:

Business Economics

The module will provide students with a comprehensive understanding of microeconomic and macroeconomic concepts, focusing on decision making by consumers and firms, and economic concepts like growth, inflation, and business cycle fluctuations. The course will cover a range of topics, including: functioning of competitive markets (e.g., how consumers allocate their budgets and how producers determine price and output), different market structures (e.g., monopolies, oligopolies) and their impact on social welfare and the overall economic system; government's macroeconomic objectives, including how they address issues like unemployment, inflation, and economic growth; design of optimal monetary policy, and an understanding of fiscal policy and debt dynamics.

30 credits

Econometric Methods

This module will develop your core econometrics skills. The first half of the module provides a grounding in key econometric techniques covering elements such as the classical linear regression model, hypothesis testing and problems of non-spherical disturbances. More advanced topics are then introduced in the second half of the module. Specifically you will focus upon topics in microeconometrics: including modelling discrete binary variables; censoring and sample selection, and then topics in macroeconometrics including: economic forecasting; stationarity; and cointegration. You will also develop a knowledge of using econometric software Stata.

15 credits

Modern Theory of Banking and Finance

This module will give you a broad introduction into the economic literature on finance and banking. You will develop an understanding of the principles behind investment-financing decisions, the concept of governance and its implications for the efficiency of firms' investment decisions, and the role of financial intermediation. The module emphasises both theoretical and practical considerations. On completing this module, you will have a working knowledge of lexicon, theory, and tools associated with monetary theory and understand how the economy and financial markets fit together.

15 credits

Core modules:

Industrial Organisation

This module will introduce you to contemporary topics in industrial organisation with a particular emphasis on the role of economic analysis of strategic decision making. You will learn to use and appraise a range of economic techniques to make better strategic decisions. In this module you will build on and expand on your knowledge of microeconomics related to market structure; such as competition in oligopolistic industries. You will also become familiar with further oligopoly models (product differentiation, collusion, mergers) as well as behaviour in platform markets. We will also consider market implications when consumers are imperfectly informed (or naive) about prices or product characteristics.

15 credits

Corporate Finance

This module will equip students with an understanding of the fundamental theoretical principles of corporate finance and the practical function of these principles when formulating investment  analysis and financial strategy. It will provide students with a deeper understanding of the financial decisions faced by firms with particular reference to the time value of money; valuation  techniques for stocks and bonds; financial statement analysis and modelling; the cost of capital and the capital structure decision; and the associated theoretical and empirical issues

15 credits

Optional modules - one from:

Applied Microeconometrics

The module provides examples and experience of applying standard microeconometric techniques to large sample surveys, with practical guidance on how to estimate and interpret results from different models. The syllabus covers topics such as limited dependent variables, instrumental variables, panel data methods and decomposition methods. Throughout use will be made of the Stata econometric software.

15 credits

Applied Macroeconometrics

This module will enable you to understand recent applied literature in core journals of macroeconomics and finance, which uses time series methods, and prepare you for possible later research involving time series. You will learn to identify the empirical features of macroeconomic and financial data, and how to analyse the dynamic interaction of macroeconomic variables over time using key econometric techniques. Throughout use will be made of the Stata econometric software.

15 credits

Optional modules - one from:

Applied Microeconometrics

The module provides examples and experience of applying standard microeconometric techniques to large sample surveys, with practical guidance on how to estimate and interpret results from different models. The syllabus covers topics such as limited dependent variables, instrumental variables, panel data methods and decomposition methods. Throughout use will be made of the Stata econometric software.

15 credits

Applied Macroeconometrics

This module will enable you to understand recent applied literature in core journals of macroeconomics and finance, which uses time series methods, and prepare you for possible later research involving time series. You will learn to identify the empirical features of macroeconomic and financial data, and how to analyse the dynamic interaction of macroeconomic variables over time using key econometric techniques. Throughout use will be made of the Stata econometric software.

15 credits

International Trade

This module will provide you with an overview of the theory of international trade to explain the patterns of exchange of goods and services between countries, international migration and foreign direct investment flows. The module provides a survey of all the main models of international trade and foreign direct investment, supplemented by applications to key contemporary policy issues. You will use a number of analytical tools and empirical methods to analyse trade and policy issues.

15 credits

Public Economics

This module will provide you with a comprehensive grounding in public economics. Government policies, through fiscal policy instruments, can have a massive impact on the allocation of resources and the distribution of income in the economy. This module evaluates the government's ability to identify and achieve more efficient and equitable outcomes than the situation without intervention. You will apply the theory in the analysis of real world public policy programmes.

15 credits

Public Policy Evaluation

This module will introduce you to the key principles for evaluating the impacts of government policies. The module will cover the leading quantitative techniques for estimating causal policy effects, and how to select appropriate techniques for different policy interventions. You will gain an understanding of how evidence about policy evaluation is used to inform policy debates, and critically assess real world examples of policy evaluation. Examples will be drawn from health, labour, education and development economics. Throughout use will be made of the Stata econometric software.

15 credits

International Money and Finance

In this module, you will acquire an understanding of the relationship between domestic and international economic activity in an open economy. You will learn to relate the various motives underlying international financial flows to their effects on real economic variables. The module will introduce mainstream theories of the determination of equilibrium exchange rates, both in the short run and the long run. You will also explore the causes of international financial crises and consider policy responses.

15 credits

Extended Research Project

The Extended Research Project will allow students to demonstrate a strong understanding of a particular topic through research and analysis. The topic students investigate will be linked to their specific degree programme. The research project will involve applying existing knowledge to a new situation or testing a hypothesis that the students have learned in the taught modules.

60 credits