Accounting and Financial Management and Economics BA

Core accounting and financial management modules:

Introduction to Management Accounting

The aim of this module is to establish a firm understanding of the basic techniques of management accounting. The selection of accounting techniques is conditional on purpose; the management accountant's role therefore includes attention-directing, score-keeping, and problem-solving.

20 credits

Introduction to Financial Accounting

Financial Accounting is concerned with the ways in which the financial transactions of a business are recorded and summarised in financial statements. This module provides an introduction to the construction of financial statements and an understanding and evaluation of the principles and concepts on which they are underpinned. Once the principles have been established, the module further develops the practical understanding of the preparation of financial statements and focuses on the preparation, interpretation and limitations of company financial statements and the regulatory framework in which they are prepared.

20 credits

Foundations in Financial Management

This module aims to create a foundation of knowledge in the subject area of financial management, creating the required framework of skill and knowledge for financial decision making and to provide a base of knowledge for the related modules in levels 2 and 3. This module will achieve this by introducing the essential principles, theories and calculations within financial management. It will also introduce the contemporary issues and developments in financial markets. The module design and content expects to at least cover the contents of foundation level financial management related module syllabus of professional accounting bodies.

20 credits

Core economics modules:

Economic Analysis and Policy

This is a compulsory module for all single and dual honours students in Economics. The module provides students with an introduction to microeconomic and macroeconomic analysis together with examples of their application in order to develop students' understanding of the roles of both in economic policy making.

40 credits

You will take one of the following economics modules:

Mathematical Methods for Economics 1

This is a core module designed for students who do not have an A-Level in Mathematics or equivalent. It will provide you with specialist support and training to introduce you to relevant key elements of maths taught at A-Level. You will learn to apply these elements in ways that are essential for problem solving in economics. The tools you gain from this module will be used throughout the rest of your degree.

20 credits

Mathematical Methods for Economics 2

This module is designed for students with an A-Level in Mathematics (or an equivalent qualification). You will revisit key mathematical tools covered in A-Level Mathematics (such as differential calculus) and learn to use them to formulate and solve problems in economics and finance. You will also be introduced to other techniques that are essential for problem solving in economics. These tools will be used throughout the rest of your degree. The topics covered include: sequences/series and the economics of finance, functions, univariate optimization, elasticity, integration, multivariate optimization, constrained optimization, and matrix algebra.

20 credits

Core accounting and financial management modules:

Financial Management

This unit takes the key themes and techniques that were introduced in MGT141, Introduction to Financial Management, and locates them in their institutional and intellectual setting to enable students to reflect critically on understandings of financial institutions and phenomena. The resulting understanding and skills of critique will enhance students' capabilities to reflect on the more specialist bodies of knowledge encountered in financial management and finance units in subsequent semesters. The unit uses a combination of conventional lectures to familiarise students with ideas and tutorials in which students are encouraged to show their understanding of and critically evaluate content of lectures.

20 credits

Intermediate Management Accounting

This unit builds on the basic skills acquired in MGT102, viewing the management accountant as an important internal corporate communicator and provider of information for management decision and control purposes. Particular emphasis is placed on the management accountant's various methods of analysing and presenting different kinds of information, drawn from both internal and external sources. The unit distinguishes between the provision of management accounting services at policy, executive and operational levels. On the basis of this distinction, the management accountant is seen as centrally involved in the evaluation and implementation of alternative courses of action in organisations. The unit also examines the development of management accounting techniques in processes of sustainable organisational performance appraisal, analysis and reporting and considers such as strategic marketing, corporate social responsibility and ethics. Finally, the unit considers the developing contribution to be made by management accountants in the creation, evaluation and control of sustainable organisations.

20 credits

Intermediate Financial Accounting

This is an intermediate level financial accounting course, building on the level 1 'introductory' module (MGT132). It follows that some of the concepts, techniques and skills acquired during the study of that module remain examinable (revision exercises are provided throughout the module). In addition there is examination of a range of accounting standards and underpinning rationales, a review of the major conceptual debates currently preoccupying both accountants and standard-setters, and an exploration of the practical problems associated with the reporting of the results of limited companies and groups.

20 credits

Core economics module:

Statistics and Econometrics

This module introduces dual honours economics students to Statistics and Econometrics and in particular how they are used in economics, to investigate economic relationships and to test economic theories. The first part of the module describes the key statistical ideas and methods that economics students need to know, and provides opportunities to practise their use. The second part of the module focusses on econometrics, providing students with the knowledge of how to model economic data, again with opportunities to develop practical experience in this area.

20 credits

You will choose two of the following economics modules:

Industrial Organisation

Industrial Organisation is a major branch of microeconomics. It considers the structure, operation and performance of industries and firms using both economic theory and empirical work.

20 credits

International Economics

This module addresses fundamental questions in International Economics, with a particular focus on the phenomenon known as 'global imbalances'. Many countries, including the world's largest economies, have been accumulating increasingly large external debt positions or external asset positions over the last few decades. This phenomenon has important consequences for the stability of the international economy and is often a concern for policy makers. This module will introduce you to modern, microfounded tools required to understand these imbalances, based on the latest economic research.

20 credits

Labour Economics

This module develops theoretical models of the labour market, starting with the competitive model of the labour market through an analysis of supply and demand for labour. A range of issues that can affect outcomes in the labour market will be considered, with an emphasis on the study of empirical evidence concerning these issues.

20 credits

Public Economics

Public economics uses the tools of microeconomics and empirical analysis to study the impact of government policies on economic behaviour and the distribution of resources in the economy.

20 credits

Macroeconomic Policy

The module will focus on applying macroeconomic theory to a variety of economic policy issues. The module will consider fiscal and monetary policy and will include how policy responds to economic shocks. The course builds on the knowledge of the core first year economics modules.

20 credits

Economics of Financial Institutions

This module covers introductory monetary, banking and finance theory and issues relating to policy and regulation of the banking and finance system. The module introduces the basic concepts in money and banking while it supports and expands on the material provided in ECN201 and ECN202, the second year micro and macro modules.

20 credits

Economic Decision-making

In life we are constantly making economic decisions: whether to go to university; whether to leave a tip in a restaurant; whether to buy a house or rent; whether to declare all our income to the tax authority; whether to play the lottery; whether and how much to invest in the stock market. In this module we study economic theory and evidence related to decision-making in these different contexts with a view to understanding human decision-making, how it deviates from standard notions of economic rationality.

20 credits

Intermediate Microeconomics

This module builds on Level 1 modules in microeconomics and mathematical economics, using the mathematical training to allow a more rigorous investigation of the principles of microeconomics. It aims to develop an understanding and ability to undertake economic analysis of models of the behaviour and interaction of economic agents (consumers, firms and government) in a market economy, the functioning of different types of industries, decision making under uncertainty and economic welfare.

20 credits

Intermediate Macroeconomics

The aims of this course are to provide firm grounding in the analytical tools of modern macroeconomics; to use these tools to understand critically the conduct of economic policy nationally and internationally. The course builds on level 1 modules in macroeconomics. The main subject areas covered are: Basic macroeconomic models: consumption/leisure choice, closed economy one period-macro models, models of search and unemployment; Savings, investment and government deficits: consumption/savings choice (two-period model), credit market imperfections, real intertemporal model with investment; Money and business cycles: flexible price models, New Keynesian economics (sticky prices), inflation; International macroeconomics: international trade, money in open economy; Economic growth: Malthus and Solow growth models, convergence, endogenous growth model.

20 credits

Core accounting and financial management modules:

Advances in Financial Accounting

The module follows on from the financial accounting modules taken at levels one and two. It extends students' technical competency in financial accounting and allows for a deeper analysis of financial reporting issues in a number of key areas. Included on the module is the study of segmental reporting, consolidated balance sheets, consolidated profit and loss accounts, vertical group balance sheets, associated company accounts, joint ventures, the effects of changing prices in accounting, foreign currency translation, capital instruments, financial instruments, related- party transactions and the international harmonisation of accounting standards.

20 credits

Advances in Management Accounting

The module builds on MGT102 and MGT211 and concentrates on the application of techniques using a number of case studies. In addition, the module deals with the changing role of Management Accounting within organisations and new developments reflected by current issues in research.

20 credits

Core economics module:

Economic Policy and Practice

This module provides an opportunity for you to apply your skills and knowledge to contemporary economic policy challenges. You will develop new skills in economic policy evaluation, and in the communication of economics to both specialists and non-specialists. You will develop a range of subject-specific and generic skills relevant to applied economists working in a variety of jobs (e.g. Government Economic Service, policy-orientated 'think-tanks', third-sector organisations, economic consultancy, etc). This will help you to understand and appreciate the breadth of work undertaken by economists in practice. Finally, you will have an opportunity to reflect on the skills you have developedThe module has a strong emphasis on employability, and the skills you acquire will help you develop various examples of the Sheffield Graduate Attributes (SGA). In particular, key SGAs you will develop are:a) Applying and translating knowledge - you will take the theories and techniques learned in your earlier core modules, and apply them to contemporary economic issues, problems andchallenges.b) Research skills and critical thinking - you will need to critically appraise, analyse and interpret theevidence that you research on the economic policy issues you are considering in order to be able to offer conclusions and recommendations.c) Communication - you will need to communicate your ideas, findings and conclusions using avariety of communication tools and methods that could be appropriate for different circumstances, for example a formal report, a blog or podcast for non-specialists, a datavisualisation or infographic, a video or oral presentation, a policy briefing for a government minister etc.d) Working with others - you will need to work effectively with others, collaborating andcontributing as part of a team.

20 credits

You will choose one of the following accounting and financial management modules:

Company Analysis and Valuation

This module is aimed at those students wanting to move into fund management / trading within global equity markets and who are targeting leading investment banks and fund managers as a career destination. The module will develop skills and understanding of a Bloomberg terminal and how to analyse and value companies using a range of techniques. The module will focus on using predominantly numerical techniques however these will be blended with other considerations which impact the value and performance of global listed companies. A wide range of global case studies will be used to demonstrate advanced valuation techniques and investment principles, thus giving students a sound grounding to take future professional qualifications with bodies such as the CFA. Tutorials will be based in a trading room enabling students to utilise a wide range of practical data sources and trading platforms, such as Bloomberg within the setting of a small and supportive class.

20 credits

Accounting & Accountability: Theory & Practice

In recent years accounting has been the focus of criticism from a number of quarters. Audit failure, the collapse of the western banking system, market volatility, inequality, and the unprecedented challenges to business presented by climate change compel the profession and its standard-setting authorities to address a moral accountability in the face of changing societal expectations. This course challenges the traditional precepts upon which accounting processes, external reporting and its regulation are based. It gets you to question your own accounting education and think more deeply about generally-accepted practice in a democratic, capitalist economy.

20 credits

Auditing

The aim of this module is to consider how successfully auditing carries out the roles that are assigned to it. An audit is the independent examination of, and expression of an opinion on, the financial statements of an enterprise. Audit has crucial roles to play in the processes of corporate and social governance, relating especially to the transmission of information to financial markets and individual/groups to whom organisations are accountable. In the 'audit society', the meaning of audit has broadened to embrace diverse forms of inspection and non-financial performance reporting. This course is designed to introduce students to the major issues in auditing theory and practice, making reference to current contexts.

20 credits

Applied Accounting and Financial Management: Business Simulation

This module provides students with a chance to apply the skills that they have acquired throughout their degree, through their own 'virtual company' within a simulated business environment. It aims to foster employability skills while also testing the competence of students with regards to both application of skills required by finance professionals, and also in the ability to critically reflect on performance and formulate new strategies following a period of management of an organisation.

The simulation presents students with challenges, not only in managing the company's output and finances, but also in important business areas such as human resources, handling legal issues, and sustainability.

20 credits

Emerging Markets Finance

The unit provides an understanding of the financial system and of finance and investments in emerging markets. The unit covers the essential elements of finance in emerging markets as well as institutional and policy issues affecting emerging markets. The first part of the unit looks at the main characteristics of emerging market finance in the light of economic reforms leading to financial liberalisation and market openness. The second part looks at the role of financial markets in financial globalisation and the last part will focus on reviewing recent financial crises and the lessons for future developments in emerging markets. (The financial crises covered in the module will not be restricted to the recent one only, it will also include the Latin American debt crisis 1982-89, East Asia crisis 1997-99 and Russian/Brazil debt crisis 1998).

20 credits

Taxation in Theory and Practice

The theory of taxation examines the principal concepts, which are used to analyse the impact and incidence of direct and indirect taxation on (groups of) individuals and the economy as a whole. Practical taxation requires an understanding of basic tax law and the procedures for calculating the tax liabilities of individuals and companies.

20 credits

Case Studies in Accounting and Consultancy

This module is case study based and designed to equip students with the practical research skills needed to understand many contemporary problems faced by managers and accountants in a modern economy. The course locates key accounting and finance issues within a changing organizational and societal context. Each year a company case will be chosen to reflect contemporary themes and issues in the global economy, which in the past have included the shareholder value drivers of restructuring in the pharmaceuticals sector, banking after the financial crises, the social and economic effects of private equity takeovers of retails chains and creative accounting practices at large outsourcing firms.

The course therefore concentrates on developing students' 'grounded knowledge' rather than drawing on abstract or overly prescriptive theories. It is designed to encourage students to develop their own initiative and to 'learn-through-doing', with guidance and support given on how to use the university's extensive suite of databases. From this, students should develop highly refined, marketable research skills which will provide a deeper appreciation of key business issues in the real-world.

20 credits

You will choose two of the following economics modules:

Environmental Economics

Economic choices shape nature just as nature can shape our choices. This module provides students with the opportunity to apply economic concepts and methods to issues related to the use and management of the environment and natural resources. The module explores issues, arguments and analysis of market failure in the protection of the environment. It also offers public policy responses to issues of sustainability and climate change.

20 credits

Economics of Race and Gender

The Economics of Race and Gender first presents an overview of differential outcomes by gender and ethnicity in the UK labour market and discusses the possible drivers of these differences. It then presents economic theories of discrimination in labour markets before discussing the strategies that economists use to test for discrimination in the real world. The module ends with a discussion of the interplay between economics and psychology as a means to better understand when and why discrimination occurs.

20 credits

Monetary Economics

This module covers monetary theory and monetary policy. It presents several economic models and discusses what monetary policy can and cannot do, as well as an introduction to the New Keynesian model. The module aims to enable students to apply the skills of economic analysis to the conduct of central banks and to the mechanisms underlying the monetary transmission mechanism.

20 credits

Health Economics

Economics is the study of how society allocates its scarce resources across competing alternatives. This notion of scarcity is as relevant in the health care sector as it is elsewhere and, thus, it is important that the resources available to health and health care are used in the best possible ways. This course will: look at how best should be defined in the context of health care; consider the roles that market forces and governments might play in achieving the sector's objectives; and discuss what information is needed so that resources can be deployed where they will do the most good. The aims of the module are: 1. To enable students to develop a critical understanding of the basis of health economics.
2. To introduce students to the health economists' toolkit, the ways in which it can be used in to inform health care resource allocation, and its limitations.

20 credits

Economic Analysis of Inequality and Poverty

This module will cover the economic theories used for the analysis of inequality and poverty.
The theories will be backed by evidence from both the developed and the developing countries. The module starts off by a discussion of issues around measurement of inequality and poverty; the different measures that are used and the inherent assumptions behind these measures. We then move on to explain the existing global trends in inequality and poverty. Different theories are used to explain these trends; for example: role of human capital, poverty traps etc. Finally we discuss the policy response of different countries to address the issues of inequality and poverty, drawing on the specific examples of welfare programmes in the developed countries and the conditional cash transfers in the developing countries.

20 credits

Education Economics

The amount of education possessed by individuals will influence their decisions in future. Education relates to issues such as health and labour market decisions. This module examines the demand for and provision of education, incorporating a mixture of economic theory such as human capital; rates of return to further and higher education and course type all of which directly relate to the labour market. Macroeconomic new growth theories are considered using empirical evidence. The graduate labour market is analysed, incorporating changes in the provision of higher education and an understanding of the rationale for the introduction of top-up fees. A final section considers schools, analysing and evaluating issues such as class size reduction, competition and selection, the performance of teachers, and the importance of pupils' family backgrounds, all in terms of their effect on pupil performance.

20 credits

Political Economy

Important economic processes cannot be fully understood without taking into account political and institutional factors and governments' political motivations. This module introduces insights from politics into the study of public policy and economic performance. In particular, it aims to give students: 1. an opportunity for interdisciplinary study within the undergraduate economics degree; 2. familiarity with the modern literature in theoretical and applied political economy; 3. an opportunity to develop their research skills through research-oriented assignments.

20 credits

Behavioural Economics

Standard economic models can successfully model human behaviour. However, the strong assumptions required of economic actors in those models will make systematic mispredictions in some contexts. Behavioural economics tries to overcome the systematic mispredictions by adopting non-standard assumptions, often inspired by insights from other disciplines. The module will discuss empirical evidence that underpins these non-standard assumptions, and will reflect on how insights from behavioural economics can be relevant in real life.

20 credits

The Economics of Innovation

The aim of this module is to provide an overview of the economics of innovation. The module will study firms' incentives to invest in innovation and the resulting policy implications. In this module you will build on and expand your knowledge of microeconomics. Topics will include the relationship between market structure and innovation, the role of firm cooperation and the effects of mergers on innovative activities. The module will also look at the role of intellectual property rights / patent systems and policy interventions. As many innovations in recent years are in the area of digitalisation and platform ecosystems, the module will also provide a short introduction to the economics of platform markets.

20 credits

International Trade

The first part of the course will cover neoclassical trade theories in which countries trade following their comparative advantage. The second part of the course deals with more recent trade theories based on economies of scale and/or imperfect competition that helps us to explain some recent patterns observed in the data. The third part of the course is an introduction to trade policy and the political economy of trade policy.

20 credits

Urban Economics

Urban economics is concerned with understanding the spatial form of cities and the spatial distribution of economic activities within a country, making use of theoretical models and empirical evidence. Three fundamental questions are: (1) Why are economic activities within a country so unequally distributed across space? (2) Why do cities, and more broadly agglomerations of firms and workers, emerge and in what locations? (3) What are the consequences of unequal distribution of activities for productivity, innovation and wages? This module covers topics such as:- Why do cities exist and why do firms cluster?- What determines equilibrium city size and features of the urban system?- City growth, spatial transformation and the implications for productivity, knowledge and wages.- Real Estate economics and the housing market.- Diseconomies in cities: Urban location, land rents and land use patterns.- Unequal distribution of economic activities and levelling-up.- Transportation economics.- Urbanisation in developing countries.

20 credits

You can also select Languages for All modules for up to 20 credits. To see the list of modules available please visit: https://www.sheffield.ac.uk/languages-for-all/choose-language