Module Specification - le.ac.uk

Module Specification

No. Assessment Description Weight % Exam Hours Ass't Group Alt Reass't

004 Coursework 1 10005 Coursework 2 10006 Examination 80 2

Period: Semester 1Occurence: ECoordinator: Vincenzo DenicolòMark Scheme: UG Pass for Credit

Academic Year: 2013/4Module Level: Year 1Scheme: UGDepartment: EconomicsCredits: 20

Intended Learning Outcomes1. A discussion of the foundations of the analysis of economic agents’ behaviour and the public policy which affect them.2. A description of the basic concepts – such as objectives, constraints, demand, cost, elasticity, marginal revenue, partial andgeneral equilibrium, welfare – comprising the microeconomist’s toolkit.3. An analysis of how those elements can be combined to provide simple microeconomic “models” that explain economicphenomena.4. An analysis of simple policy tools (e.g., taxes and subsidies), the contexts in which they might be deployed and their likelyconsequences.5. A discussion of perfectly and imperfectly competitive markets, to identify other possible sources of market failure, and tospecify appropriate policy intervention.6. To apply verbal reasoning, diagrammatic analysis, and of some elements of elementary algebra and elementary calculus,to making deductions in simple economic contexts.7. To apply an interactive computer package for supported self-learning.8. The development of report-writing and presentational skills via assignments and tutorials.9. The experience of undertaking unsupervised independent work to a fixed deadline.10. Experience of collaborative group-working in tutorial work.

Teaching and Learning MethodsLearning is based on lectures, classes and tutorials, and individual work.

Assessment Methods20% coursework and 80% exam.

Pre-Requisites

Co-Requisites

Excluded Combinations-

Lectures 20Seminars

Practical Classes & WorkshopsTutorials 9

FieldworkProject Supervision

Guided Independent Study 121Demonstration

Supervised time in studio/workshopWork Based Learning

PlacementYear Abroad

Total Module Hours 150

Student Workload (hours)

EC1000 Microeconomics 1

Last Published: 31 July 2015



001 Essay (no more than 1,500 words) 20002 Examination (Final) 80 2

Period: Semester 2Occurence: ECoordinator: Gaia GarinoMark Scheme: UG Pass for Credit


001 Coursework (Final) 100

Period: Semester 2Occurence: E1Coordinator: Gaia GarinoMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of the module a typical student will be able to: - Evaluate the foundations of the behaviour of the national economy and the public policies that affect it- Gain knowledge of the concepts of national accounting, GDP, inflation, unemployment, balance of payments, and economicgrowth.- Gain knowledge of basic monetary and fiscal policy tools available to government authorities, as well as their likelyconsequences.- Evaluate specific topics that link agents' microeconomic behaviour with macroeconomic aggregates, such as incomedistribution, and unemployment- Apply verbal reasoning, diagrammatic analysis and some techniques from elementary algebra and elementary calculus, tomake deductions from simple economic problems- Develop essay writing, report-writing and presentational skills via assignments and tutorials.- Undertake unsupervised independent work to a fixed deadline.- Gain experience of collaborative group-working in class work.

Teaching and Learning MethodsLectures, Tutorials, Problem-solving classes, Directed reading.

Assessment MethodsTwo hour final exam (80%), coursework (a written essay of no more than 1500 words) (20%).

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1001 Macroeconomics



EC1001 Macroeconomics




003 Coursework 20004 Examination (Final) 80 2

Period: Semester 1Occurence: ECoordinator: Tania OliveiraMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module typical students will be able to: apply mathematical techniques, such as those listed below, tosolving analytical and numerical economic problems: Algebraic symbols and manipulating algebraic equations. Linearequations. Powers, series and inverse functions. Solving quadratic and simultaneous equations. Basic differentiation.Identifying maxima and minima. Partial differentiation. An introduction to constrained optimisation.

Teaching and Learning MethodsLectures, Tutorials, Problem solving classes.

Assessment MethodsProblem-based examinations, problem-based assignments (coursework problem based assignment 20%).

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1005 Maths for Economics 1




002 Coursework (Final) 100 0

Period: Semester 1Occurence: ECoordinator: Francisco Martinez MoraMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the completion of this module typical students will be able to: Navigate the Windows 2007 operating system and store andretrieve electronic information. Access economic articles, information sources and data via the internet. Summarise,manipulate and present economic data using Excel and STATA 11.0. Use MS Word to present economic ideas andevidence.

Teaching and Learning MethodsLectures, Computer practical classes, Computer-aided learning.

Assessment MethodsLearning logs (continuous assessment), Computer-based exercises.

Pre-Requisites

Co-Requisites


Lectures 2Seminars

Practical Classes & Workshops 18Tutorials







EC1006 IT for Economists




003 Coursework (mid-term test) 20004 Examination (Final) 80 2

Period: Semester 1Occurence: ECoordinator: Andre RochaMark Scheme: UG Pass for Credit


003 Coursework (mid-term test) 20004 Examination (Final) 80 2



Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Demonstrate a clear ability to discuss the following topics: 1. Descriptive Statistics 2. Probability 3. Probability Distributions 4. Sampling and Sampling Distributions 5. Interval Estimation- Apply the theoretical concepts learned in each topic above to real-world problems.- Critically analyse statistical results.

Teaching and Learning MethodsLectures, Problem solving classes, Computer practical classes.

Assessment MethodsBy two hour written examination (80%)and Mid-term 45 minutes test (20%)

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1007 Statistics for Economists 1




002 Examination (Final) 100 2

Period: Semester 2Occurence: ECoordinator: Asako OhinataMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module typical students will: be familiar with mathematical terminology and concepts commonly used ina modern Economic degree. Understand how evonomic functions are expressed in mathematical terms. Be able to solvesimple Economics problems involving algebra and calculus such as; solving simultaneous equations using matrix algebratools. Finding constrained and unconstrained optima. Interpreting first and second order conditions. Applying simpleintegration techniques. Applying simple financial mathematics techniques.

Teaching and Learning MethodsLectures, Problem-solving tutorials.

Assessment Methods2 hour exam (80%) and a problem-based coursework assessment (20%).

Pre-Requisites

Co-Requisites


Lectures 18Seminars








EC1008 Maths for Economics 2




004 Examination (Final) 100 1.5

Period: Semester 1Occurence: ECoordinator: James RockeyMark Scheme: UG Pass for Credit


001 Exam (Final) 100 1.5

Period: Semester 1Occurence: E1Coordinator: James RockeyMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of the module a typical student will be able to: - Calculate descriptive statistics from grouped and ungrouped data. - Formulate problems in a probabilistic manner. - Derive properties of standard univariate and multivariate probability distributions expressed in a mathematical form - Demonstrate familiarity with basic theorems relating to expected values of functions of random variables

Teaching and Learning MethodsLectures, Directed Reading, Problem solving classes.

Assessment MethodsProblem-based examinations

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1011 Probability and Probability Distributions




003 Coursework 20004 Examination (Final) 80 1.5

Period: Semester 2Occurence: ECoordinator: Martin Foureaux KoppensteinerMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module, the typical student should be able:- to use the concepts of a random sample and random variables and be able to show the various steps involved in thederivation of the sampling distribution of the sample mean to make inferences about the population; - to use statistical tables relating to the Normal, Chi-squared, F- and t-distributions and be able to explain the role of theCentral Limit Theorem in statistical decision making; - to describe the concept of point and interval estimators and the various statistical properties to evaluate the appropriatenessof estimators in given situations; - to be aware of alternative methods of finding estimators and will be able to derive estimators such as maximum likelihoodestimators;- to construct and interpret appropriate confidence intervals and conduct the relevant statistical hypotheses tests for: means,variances, difference between two and more means and the ratio of two variances; - to undertake correlation and simple regression analysis; and make appropriate statistical inferences using hypothesis testsand Goodness of Fit measures; - and to develop particular skills including the ability to analyse, interpret, synthesise and present statistical information.

Teaching and Learning MethodsLectures, Problem-solving classes.

Assessment MethodsCoursework 20%, Problem-based exam 80%.

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1012 Statistical Inference




003 Mid-term Exam 20 1004 Examination (Final) 80 1.5005 Coursework 100 E1

Period: Semester 1Occurence: ECoordinator: Francisco Martinez MoraMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module a typical student should be able to: -Graph, algebraically manipulate, differentiate and integrate(when possible) combinations of elementary functions (constants, linear, polynomial, rational, exponential, logarithmic andtrigonometric). -Explain the relationship between derivatives, rates of change and marginal concepts. -Explain the relationshipbetween integrals, areas and economic surpluses. -Formulate simple economic models as systems of equations to solvethem and carry out comparative static exercises. -Formulate and solve optimisation problems involving one decision variable.

Teaching and Learning MethodsLectures, Tutorials, Seminars, Directed Reading, Problem solving classes, Example sheets.

Assessment MethodsProblem-based examinations (mid-term and final).

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1013 Calculus and Optimisation





Period: Semester 2Occurence: ECoordinator: Matthew PolissonMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, a student should be able to: - Analyse systems of linear equations- Apply the algebra of vectors and matrices- Invert matrices- Calculate determinants- Test for definiteness of quadratic forms- Use eigenvalues and eigenvectors

Teaching and Learning MethodsLectures, directed reading, problem solving classes.

Assessment MethodsBy a two hours final examination (80%) and midterm test (20%)

Pre-RequisitesEC1013

Co-Requisites


Lectures 20Seminars








EC1014 Linear Algebra





Period: Semester 1Occurence: ECoordinator: Martin HoskinsMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module a typical student will be able to:

- Use subject-specific language and define words and concepts introduced during the module.- Explain the motivations of different actors in the financial system and describe their interactions.- Describe the role of money in the real economy and hence demonstrate the importance of appropriate monetary policy. - Use demand and supply analysis to explain the behaviour of financial markets.- Calculate yields on bonds and money market instruments, returns on foreign exchange and futures transactions and shareprices.- Apply their knowledge of the domestic financial system to the international financial markets. - Explain the reasons for international capital flows and evaluate advantages and disadvantages of international capitalmobility.

The extent to which a student has attained these learning outcomes will be tested in a 90 minute unseen examination. Thefirst part of the exam will ask the student to define and illustrate five words or concepts, the second part will test the ability tocalculate yields, returns and prices and the ability in essay questions to discuss more general issues.

Teaching and Learning MethodsLectures, Tutorials, Independent research.

Assessment MethodsShort-answer examinations, Essay examinations, Problem-based examinations. Coursework essay.

Pre-Requisites

Co-Requisites


Lectures 10Seminars








EC1018 Financial Markets and Institutions





Period: Semester 1Occurence: ECoordinator: Clive FraserMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe and formulate the theory of consumer choice under certainty.- Solve simple consumer choice problems mathematically and graphically.- Formulate and solve problems of consumer choice under uncertainty.- Analyze problems of intertemporal consumer choice.- Describe the elementary microeconomic theory of production.- Solve simple problems of cost minimization and profit maximization.- Describe and discuss the determinants of firm and industry supply.- Analyze elementary market equilibria graphically and mathematically.

Teaching and Learning MethodsLectures (20 hours), Tutorials (8 hours)

Assessment MethodsTwo hour final examination (80%) and one hour Mid-Term online multiple-choice test (20%).


Co-Requisites


Lectures 20Seminars



Guided Independent Study 84.5Demonstration



Total Module Hours112.5


EC2000 Intermediate Microeconomics 1





Period: Semester 2Occurence: ECoordinator: Javier RivasMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe the theory of the firm under uncertainty and over time.- Discuss the use of social surplus as a measure of market efficiency.- Analyze the effects of policy interventions on a market’s social surplus.- Demonstrate the first fundamental theorem of welfare economics anddiscuss the significance of its assumptions and consequences.- Analyze the pricing and output decisions of a monopolist and its inefficiency.- Explain and discuss the causes and consequences of price discrimination.- Describe the one-shot and repeated Cournot and Bertrand oligopoly models.Describe how game theory is applied in economics, e.g., entry deterrence.- Explain the concept of missing markets and analyze externalities.- Explain the problem of public-goods supply and its efficiency consequences.

Teaching and Learning MethodsLectures 20 hours, Tutorials 8 hours

Assessment MethodsOne two hour final examination 80% and a one hour mid-term online multi-choice test 20%


Co-Requisites


Lectures 20Seminars








EC2002 Intermediate Microeconomics 2





Period: Semester 1Occurence: ECoordinator: Barbara RobertsMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Demonstrate the techniques of statistical estimation and hypothesis testing,- Apply these techniques to the analysis of data,- Solve problems formulated in a probabilistic manner,- Use IT for the manipulation, presentation, and analysis of data.

Teaching and Learning MethodsLectures 20 hours, Computer Classes 10 hours, Seminars 6 hours.

Assessment MethodsOne and a half hour final examination 80% and a mid-term 1500 words data project 20%


Co-Requisites


Lectures 20Seminars 6








EC2009 Statistics for Economics and Business





Period: Semester 2Occurence: ECoordinator: Maria Gil MoltoMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Conduct standard hypothesis tests and explain OLS regression analysis,- Discuss the problems associated with OLS when classical assumptions fail,- Distinguish between different functional forms,- Justify which of these is appropriate for estimating economic models,- Manipulate data to the most appropriate form for model estimation,- Implement regression analysis using OLS in the EViews package,- Interpret regression outputs—specifically what the coefficients represent.

Teaching and Learning MethodsLectures 20 hours, Seminars 3 hours, Computer Classes 10 hours

Assessment MethodsOne and a half hour final examination 70% and a 1800 word Empirical report 30%


Co-Requisites










EC2010 Introductory Econometrics





Period: Semester 2Occurence: ECoordinator: Jesse MathesonMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- State and explain the identifying assumptions and data requirementsnecessary for panel estimation and derive the linear panel data estimator,- Select appropriate estimation models (e.g. fixed effects vs. random effects),- Explain the relationship between fixed/random effects and first differencing,- Describe the problems arising in unbalanced panels and short time series,- Describe the “incidental parameters” problem and when it may be an issue,- Apply panel estimation techniques to data using the STATA software,- Interpret STATA output including diagnostics, within and between variance,- And coefficient estimates.

Teaching and Learning MethodsLectures 20 hours, Tutorials 4 hours, Computer Classes 4 hours

Assessment MethodsOne and a half hour final examination 80% and a 1800 word Empirical Report 20%

Pre-Requisites

Co-Requisites


Lectures 20Seminars

Practical Classes & Workshops 4Tutorials 4







EC2019 Econometrics 2




004 Examination, 2 hours (Final) 80 2005 Coursework 20

Period: Semester 1Occurence: ECoordinator: Emi MiseMark Scheme: UG Pass for Credit


005 Coursework 100

Period: Semester 1Occurence: E1Coordinator: Emi MiseMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:Describe, analyze, and evaluate two-variable linear regression models,Use elementary matrix algebra to analyze simple regressions,Formulate, analyze, and evaluate multiple regression models in matrices,Formulate and discuss generalized least squares estimation techniques,Describe and use the method of maximum likelihood estimation.

Teaching and Learning MethodsLectures 20 hours, Tutorials 7 hours, Computer Classes 2 hours

Assessment MethodsTwo-hour written exam (80%), written coursework assignment (20%).

Pre-RequisitesEC1011, EC1012

Co-Requisites


Lectures 20Seminars

Practical Classes & Workshops 2Tutorials 7







EC2020 #MULTIVALUE




001 Mid-term Test 20002 Examination (Final) 80 2




Period: Semester 2Occurence: E1Coordinator: Andre RochaMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Undertake project appraisal and capital budgeting- Discuss and critically evaluate various aspects of portfolio theory- Identify the various determinants of the cost of capital- Apply the theory of finance to analyse and discuss real-world phenomena- Evaluate the factors behind different financial problems

Teaching and Learning MethodsLectures 20 hours, Tutorials 5 hours.

Assessment MethodsOne and half hour final examination (80%), coursework (mid-term test) (20%)

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC2022 Principles of Finance




001 Mid-term Test 20 1002 Examination (Final) 80 1.5

Period: Semester 1Occurence: ECoordinator: Dimitrios VarvarigosMark Scheme: UG Pass for Credit


001 Mid-term Test 20 1002 Coursework (Final) 80

Period: Semester 1Occurence: E1Coordinator: Dimitrios VarvarigosMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Identify the forces that drive movements in macroeconomic variables (GDP, inflation, unemployment) in both the short- andthe medium-term- Recognise the different characteristics between fiscal and monetary policies- Analyse, discuss, and compare different macroeconomic policies, and evaluate their effectiveness in achieving desirablemacroeconomic objectives- Describe the impact of such policies on exchange rates and the trade balance- Discuss macroeconomic problems such as depressions and slumps


Assessment MethodsOne and a half hour final examination (80%), one hour mid-term test (20%)


Co-Requisites


Lectures 20Seminars








EC2024 Intermediate Macroeconomics I





Period: Semester 2Occurence: ECoordinator: Sara LemosMark Scheme: UG Pass for Credit



Period: Semester 2Occurence: E1Coordinator: Sara LemosMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Explain the main determinants of money demand and money supply- Explain the determination of the nominal and real interest rates- Explain the different theories of inflation- Explain the concept of time inconsistency and to demonstrate how policy credibility my provide a solution- Discuss the theoretical issues and empirical evidence concerning Central Bank independence and the associated economicoutcomes to businesses and society- Describe the main linkages between financial markets, the business environment and international macroeconomic activity- Explain the main causes and consequences of stock market crashes- Explain the main determinants of business investment- Discuss the impact of macroeconomic policy on investment decisions- Describe the link between budget deficits and government debt over time


Assessment MethodsA one and half hour final examination (100%)


Co-Requisites


Lectures 18Seminars








EC2032 Intermediate Macroeconomics II




001 Mid-term Test 20002 Examination (Final) 80 1.5




Period: Semester 1Occurence: E1Coordinator: Andre RochaMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe the key characteristics of banking and financial intermediation- Analyse a bank’s balance sheet, income statement, and income structure- Discuss different approaches to bank management and risk management- Describe the different functions of the central bank including monetary policy- Formulate and analyse theoretical models of bank runs- Use different theories of banking in order to analyse real-world events

Teaching and Learning MethodsLectures (20 hours), Tutorials (5 hours)

Assessment MethodsOne and a half hour final examination (80%), one hour mid-term test (20%)

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC2033 Principles of Banking




003 Examination (Final) 80 2004 Coursework 20

Period: Semester 1Occurence: ECoordinator: Christopher WallaceMark Scheme: UG Pass for Credit



Period: Semester 1Occurence: E1Coordinator: Christopher WallaceMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Formulate strategic-form game representations of strategic interactions.- Find the pure and mixed Nash equilibria in finite strategic-form games.- Find pure Nash equilibria in continuous-action strategic-form games.- Formulate dynamic interactions in, and analyze, the extensive form.- Characterize subgame-perfect equilibria in extensive-form and repeated games.- Represent uncertainty and information in static and dynamic games.- Find equilibria in simple static and dynamic games of incomplete information.- Apply game theory to problems, e.g., auctions, bargaining, signalling, voting.


Assessment MethodsTwo hour final examination 80% and a one hour mid-term online multi-choice test 20%

Pre-Requisites

Co-Requisites



Practical Classes & WorkshopsTutorials







EC2043 Game Theory




001 Essay (limited to 1,500 words) 20002 Examination (Final) 80 2




Period: Semester 1Occurence: E1Coordinator: Martin Foureaux KoppensteinerMark Scheme: UG Pass for Credit


001 Essay (limited to 1,500 words) 20002 Examination (Final) 80 2




Period: Semester 2Occurence: E1Coordinator: Martin Foureaux KoppensteinerMark Scheme: UG Pass for Credit










EC2061 The Economics of Development and Human Capital



Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe the link between development and economic growth- Discuss recent developments concerning the objectives of eradicating income inequality and poverty, with reference to boththeory and empirics- Describe the link between growth theory and convergence- Use theory and evidence to identify phenomena such as demographic change, income inequality, poverty and malnutrition,and discuss the corresponding implications for policy making- Identify and explain the main components of the theory of human capital- Demonstrate awareness on the methods for estimating the empirical relevance of the theory of human capital- Discuss the role of health for human capital

Teaching and Learning MethodsLectures 20 hours, Seminars 10 hours.

Assessment MethodsA two hour final exaimation (80%), and coursework (one essay limited to 1,500 words) (20%)

Pre-Requisites

Co-Requisites


EC2061 The Economics of Development and Human Capital








Period: Semester 1Occurence: E1Coordinator: Eyal WinterMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, typical students should be able to: - Analyse key results of duality theory in the context of consumer theory. - Compare and contrast Marshallian and Hicksian demand functions. Compare the equilibria of the models of Bertrand,Cournot, Stackelberg, monopoly and perfect competition. - Analyse contracts that elicit effort under conditions of private information and uncertainty. - Analyse the conditions under which a risk averse individual will purchase insurance. - Evaluate the potential for separating and pooling equilibria under conditions of symmetric and asymmetric information.

Teaching and Learning MethodsLectures, Seminars.

Assessment MethodsCoursework in the form of an essay, answering three wide ranging questions covering the whole microeconomic theoryspectrum taught in the lectures. The questions are difficult since they address problems that may still be open ended incurrent research, and require students to formulate rigorously their own answers and opinions. Percentage of mark: 30%. Problem solving examination. Students choose one exercise out of a menu of four exercises, and must demonstrate boththeoretical knowledge, intuition and analytic skills. Percentage of mark: 70%.

Pre-Requisites

Co-Requisites










EC3000 Advanced Microeconomics




001 Essay (limited to 1,800 words) 20002 Examination (Final) 80 1.5

Period: Semester 2Occurence: ECoordinator: Dimitrios VarvarigosMark Scheme: UG Pass for Credit


001 Coursework 1 20002 Coursework 2 (Final) 80

Period: Semester 2Occurence: E1Coordinator: Dimitrios VarvarigosMark Scheme: UG Pass for Credit


Intended Learning OutcomesAfter successfully completing this module, students should be able to:- Construct and analyse models that offer a formal treatment of structural economic phenomena, such as economic growth- Demonstrate awareness on the driving forces behind increasing levels of GDP per capita- Identify the fundamental characteristics that cause significant differences in prosperity among nations- Suggest appropriate policies targeted at achieving higher GDP growth, and therefore mitigating the inequalities between richand poor nations- Construct formal economics models to analyse, evaluate and explain real-world economic phenomena

Teaching and Learning MethodsLectures, tutorials

Assessment MethodsOne and a half hour written examination (80%), group coursework (an essay limited to 1,800 words) (20%).


Co-Requisites


Lectures 20Seminars








EC3001 Advanced Macroeconomics





Period: Semester 1Occurence: ECoordinator: Piercarlo ZanchettinMark Scheme: UG Pass for Credit


001 Coursework 20002 Exam (Final) 80 1.5

Period: Semester 1Occurence: E1Coordinator: Piercarlo ZanchettinMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module, successful students will be able to: - Analyze the importance of the strategic interaction framework as a basis for understanding the behaviour of firms.- Demonstrate knowledge of the factors that influence the size and nature of firms and the markets they compete in.- Explain the motivating factors for diversification and the various formats this can take.- Demonstrate knowledge of the theory and evidence behind entry and exit stategies.- Critically evaluate the factors reponsible for generating and sustaining competitive advantage.- Critically evaluate the role of the firm's internal and external environments in building competitive advantage.

Teaching and Learning MethodsLectures, Workshops.

Assessment MethodsShort-answer examinations, Essay examinations, Problem-based examinations

Pre-Requisites

Co-Requisites


Lectures 19Seminars








EC3023 Business Management and Strategy







Intended Learning OutcomesAt the end of this module a typical student should be able to: Explain the basic theory of individual investment in educationand training, its implications and extensions and how it can provide a basis for empirical investigation. Discuss the evidenceon the returns to human capital, explaining how these estimates can be biased and how authors have attempted to control forsources of bias, like ability. Identify the components of the education production function, define peer group effects anddiscuss, both theoretically and empirically, their relevance for the production of education. Explain the relation betweenschool resources and student performance, using the evidence in the literature, with special reference to the debate aboutclass size. Identify the main ways in which public and private schools interact and how these interactions affect schoolquality, political support for education and the distribution of educational benefits. Discuss the different aspects to beconsidered in designing higher education finance policies and their relevance for equity and efficiency goals. Explain the linkbetween education and inequality and discuss the possible role of education as a redistribution tool.

Teaching and Learning MethodsLectures, Seminars, Direct reading.

Assessment MethodsEssay Examinations, essay assignments (coursework-essay assignment 20%).

Pre-Requisites

Co-Requisites





Guided Independent Study "87Demonstration


Placement 5"Year Abroad



EC3044 Economics of Education




001 Coursework 1 20002 Coursework 2 20003 Coursework 3 20004 Examination (Final) 240 1.5

Period: Semester 1Occurence: ECoordinator: Jim O'HareMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, typical students will be able to: generate a mathematical model out of a verbally expressedmanagement decision problem, produce a graphical representation of a mathematical model, make policy recommendationson the basis of a mathematical model, evaluate the robustness of those policy recommendations, apply standardmanagement science modelling techniques to various business problems, explain the limitations of each modelling techniquethat was covered in the lectures.


Assessment MethodsProblem-based examination and coursework (3 parts equally weighted 6.67% each).

Pre-Requisites

Co-Requisites










EC3057 Management Science




001 On-line Test 20002 Examination (Final) 80 1.5

Period: Semester 2Occurence: ECoordinator: Fabrizio AdrianiMark Scheme: UG Pass for Credit



Period: Semester 2Occurence: E1Coordinator: Fabrizio AdrianiMark Scheme: UG Pass for Credit


Intended Learning OutcomesAfter successfully completing this module, students should be able to:- Distinguish between different types of financial markets and discuss their role;- Apply the most appropriate techniques to evaluate financial assets and investment projects;- Show awareness of the debate on the efficiency of financial markets; - Discuss and compare the role of different sources of external finance and assess their appropriateness. - Develop the ability to identify and discuss financial issues through the use of analytical tools from economic theory

Teaching and Learning MethodsLectures, Seminars

Assessment MethodsA one and half hour written final examination (80%), Coursework (on-line test) (20%)

Pre-Requisites

Co-Requisites










EC3058 Corporate Finance and the Capital Market




001 Examination 100 2

Period: Semester 1Occurence: ECoordinator: James RockeyMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of the module a typical student will be able to; analyse a simple single-equation dynamic econometric model usean econometric package and be able to analyse nonstationary economic time series, and interpret and evaluate criticallynumerical results of econometric estimation.

Teaching and Learning MethodsLectures, Computer practical classes.

Assessment Methods2 hour problem-based examination (100%).

Pre-RequisitesEC2020, EC2019

Co-Requisites


Lectures 18Seminars








EC3062 Econometrics 3




003 Oral Presentation 10004 Project (Final) 90

Period: Semester 2Occurence: ECoordinator: Wojciech CharemzaMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of the module, a typical student will be able to: -Use their macroeconomic and time series econometric knowledgein specification and estimation of a single-equation econometric time series model; -Evaluate forecasting properties of suchmodel; -Apply transferable skills in data collection, Internet literature search, descriptive data analysis, report writing and oralpresentation; -Demonstrate subject specific skills relating to model estimation, selection, general-to-specific analysis, testingstatistical hypotheses in single-equation econometric models and evaluation and interpretation of the results.

Teaching and Learning MethodsLectures, individual work on an empirical project.

Assessment MethodsAn assessed project and oral presentation

Pre-RequisitesEC2020, EC3063.

Co-Requisites


Lectures 4Seminars



Guided Independent Study108.5Demonstration





EC3064 Applied Econometrics Project




001 Examination (Final) 80 1.5002 Essay (no more than 1,000 words) 20




Period: Semester 1Occurence: E1Coordinator: Barbara RobertsMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of the module a typical student will be able to:- Demonstrate knowledge of different aspects of the global economy, such as international trade, trade policy, economicgeography, international factor movements, foreign direct investment, economic integration and international negotiations- Apply this knowledge to analyse real economic events- Evaluate different theories and policy options to assess the full impact of economic globalisation

Teaching and Learning MethodsLectures, Seminars, Directed reading

Assessment MethodsBy a one and half hour final examination (80%) and an assessed essay of no more then 1,000 words (20%)

Pre-Requisites

Co-Requisites










EC3066 The Global Economy




001 Essay (1,500 words) 20002 Examination (Final) 80 1.5




Period: Semester 1Occurence: E1Coordinator: Tania OliveiraMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module typical students will be able to:• Identify the elements of the Balance of Payments and discuss the effects of exchange rate changes in the Current Account.• Explain the effects of macroeconomic policy in open economies, using the theoretical frameworks of the Mundell Flemingmodel and the monetary approach, assessing how the choice of exchange rate regime would affect the effectiveness ofdifferent policies.• Discuss the evidence on Purchasing Power Parity and critically assess its usefulness as a theory of exchange ratedetermination.• Be familiar with assumptions, limitations and main results of different models of exchange rate determination, namely theflexible price model, the sticky price model, the real interest rate differential model and the portfolio balance model, and usesuch models to discuss the effects of monetary policy on exchange rates.• Explain how the international financial system developed and demonstrate familiarity with the main actors, their respectiveroles and their interactions in the international capital markets.• Explain the economics of LDC borrowing and the economics of default and evaluate the resolution of debt crisis in the past.• Discuss the functions and policies of the international financial institutions in the past and present and explain theshortcomings of the present arrangements as exposed by recent financial crises.• Explain why countries peg or manage their exchange rates and why such pegged arrangements collapse, based on theexperience of currency crises from the 1980s and 1990s.

Teaching and Learning MethodsLectures, Seminars, Independent research.

Assessment MethodsBy a one and half hour final examination 80% and coursework (group essay with a word limit of 1,500 words) 20%

Pre-Requisites









EC3067 International Finance



Co-Requisites


EC3067 International Finance







Intended Learning OutcomesAt the end of the module a typical student will be able to: - Describe the leading theories of international trade- Critically evaluate different theories- Critically evaluate different trade policy options- Apply the knowledge of trade theory and policy to analyse economic events.


Assessment MethodsBy a one and half hour final examination 80%, and coursework 20%

Pre-Requisites

Co-Requisites










EC3069 International Trade





Period: Semester 1Occurence: ECoordinator: Ali al-NowaihiMark Scheme: UG Pass for Credit


001 Class Test (Final) 100

Period: Semester 1Occurence: E1Coordinator: Ali al-NowaihiMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of the module a typical student will be able to: 1. Define the main financial derivatives and describe the most important markets and institutions involved.2. Demonstrate awareness on the principles of no-arbitrage, delta-hedging and risk-neutral valuation.3. Use binomial trees to price European and American put and call options.4. Critically evaluate the main trading strategies and their use (and misuse) in risk management.5. Critically evaluate the Merton model and the Black-Scholes-Merton model.6. Use stochastic calculus to derive the Black-Scholes-Merton partial differential equation.7. Critically evaluate the role played by financial derivatives in the recent financial crisis.

Teaching and Learning MethodsLectures, Seminars, Directed Reading

Assessment MethodsBy a one and half hour final examination 100% (essay and problem-solving examination)

Pre-Requisites

Co-Requisites










EC3070 Financial Derivatives





Period: Semester 1Occurence: ECoordinator: Piercarlo ZanchettinMark Scheme: UG Pass for Credit


001 Coursework 20002 Exam (Final) 80 1.5

Period: Semester 1Occurence: E1Coordinator: Piercarlo ZanchettinMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, typical students should be able to:- Critically evaluate Coase’s theorem and its limitations in the presence of private information and hidden actions. - Analyze why and how a firm might give contracts to its employees/managers/salespeople in order to induce them to provideeffort. - Analyze why and how a firm might give contracts to its Chief Executive Officer (CEO) in order to induce him/her to provideeffort and to invest in risky, but profitable projects. - Analyze how its internal labour market can help a firm in screening its existing workers - Describe how private information influences the debt versus equity trade-off. - Discuss how contractual incompleteness (i.e. the fact that contracting parties cannot foresee all possible contingencieswhich may arise in the future) influences contractual arrangements in the venture capital industry.- Apply verbal reasoning, elementary algebra, elementary calculus and diagrammatic analysis to making decisions in simplecontexts involving managerial decisions.

Teaching and Learning MethodsLectures, Tutorials.

Assessment MethodsShort-answer examinations, Essay examinations, Problem-based examinations.

Pre-Requisites

Co-Requisites









EC3071 Managerial Economics




EC3071 Managerial Economics




001 Coursework 20002 Examination (Final) 80 1.5003 Coursework (Final) 100 E1



Intended Learning OutcomesThe module aims to give students a thorough understanding of the basic mathematical techniques of particular relevance toeconomics; approximations to functions, optimisation, duality theory, comparative statics, and integration. Also, todemonstrate their use in core areas of economic analysis.


Assessment MethodsCoursework in the form of an essay answering a very important theme, second order conditions and concavity in the contextof multivariate functions. Students are required to formulate rigorously their answers and to infer the differences with theunivariate case. Percentage of mark: 20%. Problem solving examination. Percentage of mark: 80%. Students choose two exercises out of a menu of four exercises, andmust demonstrate both theoretical knowledge, intuition and analytic skills.

Pre-Requisites

Co-Requisites










EC3075 Advanced Mathematical and Statistical Methods




005 Coursework 1 30006 Coursework 2 30008 Examination (Final) 240 2



Intended Learning OutcomesAt the end of this module, typical students should be able to: - Describe the information needed by preparers and users of financial statements. - Apply the essential concepts that underlie the practice of financial accounting. - Record transactions using double entry bookkeeping. - Account for non-current assets and inventories.- Account for accruals, prepayments and bad and doubtful debts. - Prepare an income statement and a balance sheet of a sole trader from incomplete records. - Prepare cash flow statements. - Interpret the contents of company annual reports. - Measure company performances using ratio analysis and cash flow statements.

Teaching and Learning MethodsLectures, Seminars and independent research.

Assessment MethodsExamination (80%). Coursework (20% - 2 parts equally weighted).

Pre-Requisites

Co-Requisites










EC3076 Accounting




005 Coursework 1 30006 Coursework 2 30008 Examination (Final) 240 1.5



Intended Learning OutcomesAt the end of this module, typical students should be able to:- Demonstrate knowledge of the functioning and structure of equity markets.- Analyze and discuss the theory and the empirical evidence of equilibrium asset pricing models. - Evaluate and interpret diversification and passive investment strategies.- Demonstrate knowledge of active investment strategies and evaluate their performances.- Demonstrate knowledge of the functioning of bond markets and the different instruments.- Analyze the analytics of bond pricing as well as the measurement of risk (duration and convexity).

Teaching and Learning MethodsLectures, Seminars and independant research.

Assessment MethodsExamination (80%). Coursework (20% - 2 parts equally weighted).

Pre-Requisites

Co-Requisites










EC3077 Investment Management





Period: Semester 2Occurence: ECoordinator: Clive FraserMark Scheme: UG Pass for Credit


Intended Learning Outcomes1. Analyse taxes and subsidies from an economic perspective2. Be aware of the possible rationales for various types of public expenditure3. Explain the importance of efficiency and equity in determining social objectives.4. Measuring poverty and inequality and the factors that determine their levels and changes in them.5. Explaining the rationale and methods for the regulation of monopoly.

Teaching and Learning MethodsLearning is based on seminars, and individual work.

Assessment MethodsBy a one and hour final examination 80%, and coursework 20% (2 x 10%) based on quantitative and interpretative questions.

Pre-Requisites

Co-Requisites










EC3078 The Economics of Social Problems





Period: Semester 2Occurence: ECoordinator: Maria Gil MoltoMark Scheme: UG Pass for Credit


Intended Learning OutcomesMaria Gil Molto/Subir BoseAt the end of the module, the students should be able to: - Describe the ways in which the internet has an effect on the economy. - Apply theoretical models to analyse the economics of the internet and in particular, to aspects such as auctions and networkeconomies.- Discuss the role of public policies and regulations with respect to the economic activities of the internet.- Analyse the incentives to invest in innovative activities in the internet.

Teaching and Learning MethodsLectures, Seminars, Independent research.

Assessment MethodsProblem-based and short answer examinations; Written reports; Role plays. The module is not linked to any other forassessment purposes.2 in-class assignments (done in seminars), each weighing 15%.

Pre-Requisites

Co-Requisites










EC3079 Webonomics




001 70 1.5002 15003 15

Period: Semester 2Occurence: ECoordinator: Vincenzo DenicolòMark Scheme: UG Pass for Credit


Intended Learning OutcomesThe module aims to introduce students to economic analysis of the manner in which the government typically intervenes inthe economy. This ranges from direct governmental attempts to address a number of contemporary social problems,encompassing issues such as the provision of education and health care to the economics of transport, the environment andsocial policy, to the introduction or regulatory mechanisms affecting the functioning of private markets. The students will alsobe provided with ways of understanding the principles underlying the financing of government expenditure through taxation.Throughout the module, the analysis will focus on the economic mechanisms for allocating society's scarce resources in eachof the problem areas.

Teaching and Learning MethodsLectures, Seminars, Directed reading.

Assessment MethodsBy written examination (80%)By coursework (20%)

Pre-Requisites

Co-Requisites


LecturesSeminars



Guided Independent StudyDemonstration



Total Module Hours


EC3080 Government Intervention in the Economy


Documents

Module Specification - le.ac.uk