Department Of Economics.

Degree Programmes And Modules At Level One 2017–18.

Department of Economics The University of Sheffield 9 Mappin Street Sheffield S1 4DT UK Tel: +44 (0)114 222 5151 Email: econ@sheffield.ac.uk www.sheffield.ac.uk/economics

DISCLAIMER

Whilst every effort has been made to ensure that the information in this guide is correct at the time of going to press, the Department of Economics cannot be held responsible for any errors it contains. The department reserves the right to cancel or make adjustments to the specifications and availability of particular modules as necessary, and cannot guarantee to avoid timetable clashes for individual students.

Version 1 (September 2017)

Contents INTRODUCTION 1 KEY INFORMATION 1 Semester Dates 2017–18 1 The Structure of Degree Programmes 1 Number of Credits Taken Each Semester 2 Unavailable and Prohibited Modules 2 Changing Modules 2 Changing Degree Programme 2 DEGREE PROGRAMME REGULATIONS 2 BA Economics 3 BSc Economics 4 BSc Economics with Finance 5 BA Economics and Philosophy 6 BA Economics and Politics 7 BSc Economics and Mathematics 8 BA Business Management and Economics 9 BA Accounting and Financial Management and Economics 10 BA French and Economics 11 BA German and Economics 11 BA Hispanic Studies and Economics 11 BA Russian and Economics 11 LEVEL 1 MODULE OUTLINES 12 Module Leaders’ Contact Details 12 ECN104 Introductory Finance for Economics 13 ECN108 Economic History of Britain and the Modern World 14 ECN109 Classical and Contemporary Thinkers in Economics 15 ECN118 Mathematical Methods for Economics 1 16 ECN119 Mathematical Methods for Economics 2 17 ECN120 Statistical Methods for Economics 18 ECN130 Economic Analysis and Policy 19

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INTRODUCTION This guide to Level 1 study in the Department of Economics is issued to all new single and dual honours students at the start of Intro Week. It is designed to give details of the structure of each degree programme and help you to plan module choice in order to complete your registration in Intro Week. You will also receive a link to the department’s Undergraduate Handbook. This will give information about, among other things, the department, attendance and absence, assessment and examinations, progression from one level of study to the next, and codes of practice concerning personal information, complaints and appeals procedures. KEY INFORMATION Semester Dates 2017–18

Autumn Semester

Weeks 1–12 Weeks 13–15

[Intro Week 18–23 September 2017] Monday 25 September – Saturday 16 December 2017

[4 weeks Christmas vacation] Monday 15 January – Saturday 3 February 2018 (examinations*)

Spring Semester

Weeks 1–7 Weeks 8–12 Weeks 13–15

Monday 5 February – Saturday 24 March 2018 [3 weeks Easter vacation]

Monday 16 April – Saturday 19 May 2018 Monday 21 May – Saturday 9 June 2018 (examinations*)

Supplementary (Resit) Examination Period*

Monday 6 – Friday 24 August 2018

* Examinations take place on Mondays to Saturdays

The Structure of Degree Programmes Each degree programme consists of a series of levels, each level corresponding to a year of full time study. At each level you take six 20 credit modules or an equivalent combination of 10 and 20 credit modules to a total value of 120 credits. Modules are also called units. Upon successful completion of a module (i.e. obtaining a pass in the assessments) you are awarded the credits for that module. Note that the number of credits obtained does not depend on your mark: you either get all of the credits or none. There are three different types of modules in degree programmes:

Core modules are those which it is compulsory to take for a particular degree programme. All core modules within a degree programme must be passed in order to permit progression to the next level.

Approved modules are ones where a choice is available, but that choice is restricted to a specific list. The choice available in such cases in each degree programme is shown in this guide.

Unrestricted modules are those where you may choose any module offered in the University for which you satisfy the prerequisites, and for which the relevant department is willing to accept you. At Level 1, the BA and BSc Economics programmes have 40 credits of unrestricted modules and the BSc Economics with Finance programme has 20 unrestricted credits. However, most Economics dual degree programmes have no unrestricted modules at this level. At Levels 2 and 3, depending on your programme, you may be able to take up to 20 credits of unrestricted modules per year. Please note you cannot take a Level 1 module as an unrestricted choice in later years except for language modules offered by the Modern Languages Teaching Centre and the School of East Asian Studies.

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Number of Credits Taken Each Semester Students normally take 60 credits in each semester but it is common in some degree programmes for students to have, or choose to take, a 50/70 or 70/50 split over the year. Taking an 80/40 split between is not usually allowed because of the unbalanced workload. You may only do this with the approval of either the Student Experience and Welfare Coordinator, Dr Antonio Navas, or the Director of Undergraduate Programmes, Simon Tebbutt. A 40/80 split will not be approved under any circumstances. Unavailable and Prohibited Modules It is usual for a number of departments to restrict some or all of their modules to students on their own degree programmes due to capacity constraints. Up-to-date information on module availability in other departments will be available at Module Enrolment in the Octagon Centre in Intro Week.

When choosing unrestricted modules, please note that you cannot take any of the following because of their similarity to core economics modules:

• ECN101 Business Economics • MAS152 Essential Mathematical Skills and Techniques • SMI105 Data Visualisation • SMI106 Introductory Quantitative Data Analysis for Social Scientists • TRP107 Economics for Spatial Planning

Also note that MAS110 Mathematics Core I cannot be taken with ECN118 or ECN119 and MAS113 Introduction to Probability and Statistics cannot be taken with ECN120. Changing Modules You may change modules during the first three weeks of each semester, subject to availability and the change being in line with your degree programme regulations. If you wish to do this you should complete Module Add/Drop online via MUSE. For more information see www.sheffield.ac.uk/ssid/forms/addrop. It is important to realise that it is then your responsibility to catch up on any material that you have missed through joining the module late. Changing Degree Programme If you are considering changing degree programme, you should discuss your proposed course of action with your personal tutor or the department’s Student Experience and Welfare Coordinator, Dr Antonio Navas. If you are hoping to transfer out of Economics then you must first contact the department whose degree programme you want to join to see if this is possible.

During the first three weeks of Level 1, you may be allowed to switch directly on to a different programme. This is not usually possible after week 3 unless the change does not require a change of modules. Normally you would have to start the new programme the following academic year.

If the change of programme is agreed, complete a Change of Status Form and bring it to the Student Support and Enquiry Office (room 435, 4th floor, 9 Mappin Street). The form is available at www.sheffield.ac.uk/ssid/change-of-status/degree. DEGREE PROGRAMME REGULATIONS This section sets out details of the single honours degree programmes entirely within the Department of Economics and dual honours degree programmes to which the department contributes. Please note:

• The figure (10) or (20) after each module denotes the credit value. • The approved modules at Levels 2 and 3 are reviewed each year. By the time you reach

these levels you may well find some changes. • Dual degree students can find the regulations for the other half of your programme in your

partner department’s handbook or in the Programme Regulations Finder at www.sheffield.ac.uk/programmeregulationsfinder.

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BA Economics L100/ECNU02

Level 1

Full academic year ECN120 Statistical Methods for Economics (20) ECN130 Economic Analysis and Policy (40)

One of the following: ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) Unrestricted modules to the value of 40 credits from: ECN104 Introductory Finance for Economics (20)

(Spring) ECN108 Economic History of Britain and the Modern

World (20) (full academic year) ECN109 Classical and Contemporary Thinkers in

Economics (20) (full academic year) Modules offered by other departments Level 2

Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) Autumn Semester ECN219 Research Methods and Introductory

Econometrics (20) – see note 1 One of the following: ECN217 Applied Microeconomics (20) (Spring) ECN218 Applied Macroeconomics (20) (Autumn) Modules to the value of 40 credits from: ECN212 Further Mathematical Methods for

Economics (20) ECN217 Applied Microeconomics (20)

(if not already selected) ECN218 Applied Macroeconomics (20)

(if not already selected) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) ECN222 Economic Decision-Making (20) Unrestricted Level 2 module(s) to the value of 20 credits

Level 3

Full academic year Modules to the value of 120 credits from: ECN301 Topics in Advanced

Microeconomics (20) ECN302 Topics in Advanced

Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists

(20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN331 Economics Undergraduate

Dissertation 1 (20) ECN332 Economics Undergraduate

Dissertation 2 (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Unrestricted Level 3 module(s) to the value of 20 credits Notes 1. You may substitute ECN219 with

ECN216 Econometrics, subject to the approval of the ECN216 module leader.

2. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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BSc Economics L101/ECNU14

Level 1

Full academic year ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) ECN120 Statistical Methods for Economics (20) ECN130 Economic Analysis and Policy (40) Unrestricted modules to the value of 40 credits from: ECN104 Introductory Finance for Economics (20)

(Spring) ECN108 Economic History of Britain and the Modern

World (20) (full academic year) ECN109 Classical and Contemporary Thinkers in

Economics (20) (full academic year) Modules offered by other departments Level 2

Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) ECN212 Further Mathematical Methods for

Economics (20) ECN216 Econometrics (20) One of the following: ECN217 Applied Microeconomics (20) (Spring) ECN218 Applied Macroeconomics (20) (Autumn) A module to the value of 20 credits from: ECN217 Applied Microeconomics (20)

(if not already selected) ECN218 Applied Macroeconomics (20)

(if not already selected) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) ECN222 Economic Decision-Making (20) Unrestricted Level 2 module(s)

Level 3

Full academic year One of the following ECN301 Topics in Advanced

Microeconomics (20) ECN302 Topics in Advanced

Macroeconomics (20) Modules to the value of 80 credits from: ECN301 Topics in Advanced

Microeconomics (20) (if not already selected)

ECN302 Topics in Advanced Macroeconomics (20) (if not already selected)

ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists

(20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN331 Economics Undergraduate

Dissertation 1 (20) ECN332 Economics Undergraduate

Dissertation 2 (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Unrestricted Level 3 module(s) to the value of 20 credits Note The range of option modules on offer and the semester in which a module runs may change from year to year.

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BSc Economics with Finance L1N3/ECNU23

Level 1

Spring Semester ECN104 Introductory Finance for Economics (20) Full academic year ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) ECN120 Statistical Methods for Economics (20) ECN130 Economic Analysis and Policy (40) Unrestricted module(s) to the value of 20 credits from: ECN108 Economic History of Britain and the Modern

World (20) (Full academic year) ECN109 Classical and Contemporary Thinkers in

Economics (20) (Full academic year) Modules offered by other departments Level 2

Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) ECN212 Further Mathematical Methods for

Economics (20) ECN216 Econometrics (20) Spring Semester ECN220 Money, Banking and Finance (20) A module to the value of 20 credits from: ECN218 Applied Macroeconomics (20) ECN221 The Economics of Social Issues (20) Unrestricted Level 2 module(s) Level 3

Full academic year One of the following: ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) Autumn Semester ECN324 Monetary Economics (20) Spring Semester ECN357 Modern Finance (20)

Modules to the value of 60 credits from: ECN301 Topics in Advanced

Microeconomics (20) (if not already selected)

ECN302 Topics in Advanced Macroeconomics (20) (if not already selected)

ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists

(20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN331 Economics Undergraduate

Dissertation 1 (20) ECN332 Economics Undergraduate

Dissertation 2 (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Unrestricted Level 3 module(s) to the value of 20 credits Note The range of option modules on offer and the semester in which a module runs may change from year to year.

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BA Economics and Philosophy

LV15/ECNU07 Level 1

Full academic year ECN120 Statistical Methods for Economics (20) ECN130 Economic Analysis and Policy (40)

One of the following: ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) Modules in Philosophy to the value of 40 credits Level 2

Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) Modules in Philosophy to the value of 40 credits Modules to the value of 40 credits from: ECN212 Further Mathematical Methods for

Economics (20) ECN216 Econometrics (20) ECN217 Applied Microeconomics (20) ECN218 Applied Macroeconomics (20) ECN219 Research Methods and Introductory

Econometrics (20) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) ECN222 Economic Decision-Making (20) Further module(s) in Philosophy Unrestricted Level 2 module(s) to the value of 20 credits Level 3

Modules to the value of 40 credits from: ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20)

ECN358 Economic Analysis of Inequality and Poverty (20)

Two modules in Philosophy to the value of 40 credits Modules to the value of 40 credits from: Further Level 3 Economics modules from the list above Further modules in Philosophy Unrestricted Level 3 module(s) to the value of 20 credits Notes 1. Over Levels 2 and 3 you must take at

least 60 credits of option modules in Economics (not less than 40 credits at Level 3) and at least 100 credits of modules in Philosophy.

2. ECN216 and ECN219 cannot be

taken together. 3. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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BA Economics and Politics LL12/ECNU08

Level 1

Full academic year ECN130 Economic Analysis and Policy (40) One of the following ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) One core module and two approved modules in Politics to the value of 60 credits Level 2

Full academic year ECN120 Statistical Methods for Economics (20) ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) One core module and two approved modules in Politics to the value of 60 credits Level 3

Modules to the value of 60 credits from: ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists (20) ECN307 Further Mathematical Methods for

Economics (20) ECN308 Econometrics (20) ECN309 Research Methods and Introductory

Econometrics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality and

Poverty (20) Modules in Politics to the value of 60 credits Notes 1. ECN308 and ECN309 cannot be taken together.

2. The range of option modules on offer and the semester in which a module runs may change from year to year.

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BSc Economics and Mathematics LG11/ECNU16

Level 1

Autumn Semester MAS110 Mathematics Core I (20) Spring Semester MAS111 Mathematics Core II (20) Full academic year MAS113 Introduction to Probability and Statistics (20) MAS114 Numbers and Groups (20) ECN130 Economic Analysis and Policy (40) Level 2

Autumn Semester MAS211 Advanced Calculus and Linear Algebra (20) Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) Modules to the value of 60 credits from A below, or 40 credits from B1 and 20 credits from B2 A ECN216 Econometrics (20) MAS220 Algebra (20) MAS221 Analysis (20) B1 MAS223 Statistical Inference and Modelling (20) MAS275 Probability Modelling (10) MAS281 Probability and Statistics in Society (10) B2 A module to the value of 20 credits from: ECN216 Econometrics (20) ECN217 Applied Microeconomics (20) ECN218 Applied Macroeconomics (20) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) ECN222 Economic Decision-Making (20) Unrestricted Level 2 module(s)

Level 3

Modules in Mathematics and Statistics to the value of 40 credits Modules to the value of 80 credits from: ECN301 Topics in Advanced

Microeconomics (20) ECN302 Topics in Advanced

Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists

(20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Unrestricted Level 3 module(s) to the value of 20 credits – if an unrestricted module was not selected at Level 2 Notes 1. At Level 3 the 20 credits of

unrestricted modules may be taken in Mathematics and Statistics. The total number of unrestricted credits across Levels 2 and 3 must not exceed 20.

2. ECN306 cannot be taken with

MAS348 Game Theory. 3. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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BA Business Management and Economics NL21/MGTU15

Level 1

Full academic year ECN130 Economic Analysis and Policy (40) One of the following: ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) Three core modules in Business Management to the value of 50 credits Unrestricted module to the value of 10 credits from: MGT140 Business Challenges (10) (Autumn) Modules offered by other departments Level 2

Full academic year ECN120 Statistical Methods for Economics (20) ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) Three core modules in Business Management to the value of 60 credits Level 3

Modules to the value of 40 credits from: ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists (20) ECN307 Further Mathematical Methods for

Economics (20) ECN308 Econometrics (20) ECN309 Research Methods and Introductory

Econometrics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality and

Poverty (20) One core module and one option module in Business Management to the value of 40 credits

Modules to the value of 40 credits from: Further option modules in Business Management Further option modules in Economics from the list above Unrestricted module(s) to the value of 20 credits Notes 1. ECN308 and ECN309 cannot be

taken together. 2. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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BA Accounting and Financial Management and Economics NL41/MGTU16

Level 1

Full academic year ECN130 Economic Analysis and Policy (40) One of the following: ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) Three core modules in Accounting and Financial Management to the value of 60 credits Level 2

Full academic year ECN120 Statistical Methods for Economics (20) ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) Three core modules in Accounting and Financial Management to the value of 60 credits Level 3

Modules to the value of 40 credits from: ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists (20) ECN308 Econometrics (20) ECN309 Research Methods and Introductory

Econometrics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality and

Poverty (20)

Two core modules in Accounting and Financial Management to the value of 40 credits Modules to the value of 40 credits from: Option modules in Accounting and Financial Management Further option modules in Economics from the list above Unrestricted modules to the value of 20 credits Notes 1. ECN308 and ECN309 cannot be

taken together. 2. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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BA French and Economics RL11/FREU03 BA German and Economics RL21/GERU03 BA Hispanic Studies and Economics

RL41/HSSU06 BA Russian and Economics RL71/RUSU02

Level 1

Full academic year ECN130 Economic Analysis and Policy (40) One of the following: ECN118 Mathematical Methods for Economics 1 (20)

(non A Level Maths stream) ECN119 Mathematical Methods for Economics 2 (20)

(post A Level Maths stream) Core modules in the relevant language to the value of 40 credits French and Economics One of the following (see note 1): ECN120 Statistical Methods for Economics (20) Unrestricted module(s) to the value of 20 credits Duals with German and Hispanic Studies ECN120 Statistical Methods for Economics (20)

(Full academic year) Russian and Economics One of the following: ECN120 Statistical Methods for Economics (20)

(post A Level Russian stream) A further core module in Russian worth 20 credits (non A Level Russian and Heritage Russian streams) Level 2

Full academic year ECN201 Intermediate Microeconomics (20) ECN202 Intermediate Macroeconomics (20) One of the following: ECN120 Statistical Methods for Economics (20)

(compulsory if not taken at Level 1) ECN212 Further Mathematical Methods for

Economics (20) ECN216 Econometrics (20) ECN217 Applied Microeconomics (20) ECN218 Applied Macroeconomics (20) ECN219 Research Methods and Introductory

Econometrics (20) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) ECN222 Economic Decision-Making (20)

Modules in the relevant language to the value of 60 credits Year Abroad

As specified by your language department. Level 3

Modules to the value of 60 credits from: ECN301 Topics in Advanced

Microeconomics (20) ECN302 Topics in Advanced

Macroeconomics (20) ECN304 Education Economics (20) ECN305 Political Economy (20) ECN306 Game Theory for Economists

(20) ECN307 Further Mathematical Methods

for Economics (20) – see note 2 ECN308 Econometrics (20) – see note 2 ECN309 Research Methods and

Introductory Econometrics (20) – see note 2

ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Modules in the relevant language to the value of 60 credits Notes 1. ECN120 must be taken at Level 1 if

timetabling allows. 2. ECN307, ECN308 and ECN309 are

only available to students who have to take ECN120 at Level 2.

3. ECN308 and ECN309 cannot be

taken together. 4. The range of option modules on offer

and the semester in which a module runs may change from year to year.

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LEVEL 1 MODULE OUTLINES The following pages describe modules at Level 1 offered by the Department of Economics. Where there are restrictions on eligibility for these modules, this is clearly shown. More detailed reading for all modules will be given at the start of the semester in which the module occurs. There may be some changes before a module begins and occasionally the eventual recommended book for the module may not appear in the basic reading shown here. If you need general advice about module choice you should speak to your personal tutor. For more information about a specific module please contact the module leader. Please note this information is subject to change and module details will be confirmed in module outlines published on MOLE and discussed by Module Leaders in their first lecture. Module Leaders’ Contact Details

Module Module Leader Room Email Telephone

ECN104 Dr Vassilis Sarantides 519 v.sarantides@sheffield.ac.uk 0114 222 3324

ECN108 Professor Paul Mosley 418 p.mosley@sheffield.ac.uk 0114 222 3397

ECN109 Professor Sarah Brown 531 sarah.brown@sheffield.ac.uk 0114 222 3404

ECN118 Dr Pamela Lenton 509 p.lenton@sheffield.ac.uk 0114 222 3418

ECN119 Dr Panagiotis Nanos 537 p.nanos@sheffield.ac.uk 0114 222 3316

ECN120 Mr Simon Tebbutt 417 s.tebbutt@sheffield.ac.uk 0114 222 3400

ECN130 Mr Simon Tebbutt 417 s.tebbutt@sheffield.ac.uk 0114 222 3400

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Introductory Finance for Economics ECN104 Co-requisite Module Leader Semester Credits ECN118/119 Mathematical Methods for Economics 1 or 2

Dr Vassilis Sarantides Spring 20

This is a core module for BSc Economics with Finance and an optional module for BA Economics, BSc Economics and BA French and Economics. Nature of the subject To introduce the basics of the financing and investment decisions of financial managers. Aims of the module This unit aims to provide a solid grounding in the basic concepts of finance for economists, focusing in particular on theoretical analysis and problem solving. Learning objectives By the end of this module students will be expected to demonstrate:

• the three main financial statements that are produced by corporations and some common financial ratios.

• the concept of the time value of money. • the most appropriate mathematical techniques used to evaluate financial assets and

investment projects. • the Security Market Line and the risk-return trade-off.

Syllabus The syllabus will aim to include the following topics: The Business Finance Environment; Working with Financial Statements; Time Value of Money; Valuation of bonds and stocks; Net Present Value and other Investment Criteria; Making Capital Investment Decisions; The risk-return trade off; The Cost of Capital and the Capital Structure Decision. Note that the schedule of topics may be altered. Teaching methods Ten two-hour lectures and eight one-hour workshops spread over the semester. Assessment An unseen examination (75%) plus a class test (25%). Basic reading The key text for this module, to which frequent reference will be made, is: Hillier, D. and Clacher, I. (2014) Fundamentals of Corporate Finance, 2nd European Edition, McGraw-Hill, ISBN: 9780077149772 For further reading: Brealey, R., Myers, S., and Allen F. (2013) Principles of Corporate Finance 11th Global Edition, McGraw-Hill, ISBN: 9780077151560

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Economic History of Britain and the Modern World ECN108 Prerequisites Module Leader Semester Credits

None Professor Paul Mosley Academic year 20 This is an optional module for single honours Economics and BA French and Economics students. Nature of the subject Provides an introduction to the economic history of Britain (in semester 1) and to the evolution of the global economy (in semester 2) in the context of modern theories of economic growth and development and present-day debates about poverty, inequality and North-South relations. Aims of the module To introduce some major themes of British and global history in a way which enables us to understand the debate about causes of wealth, poverty and inequality, and policies to achieve economic growth. Learning objectives By the end of this module students will be expected to demonstrate an understanding of the main themes in post-1750 economic history of the UK and the modern world. Syllabus Semester 1 1. Modern economic growth and the causes of wealth and poverty. 2. Capital and enterprise – sources of the Industrial Revolution. 3. Technical innovation and its origins. 4. Labour, standards of living and poverty. 5. Education, health and economic development. 6. National economic policy. 7. Britain and the world economy. Semester 2 1. Patterns in development: overview. 2. Debates about development and development policy: do the rich countries exploit the poor countries?

What can we learn about development from the material on Britain presented in semester 1? 3. The nineteenth century: trade, investment and globalisation 4. The nineteenth century: industrialisation and policy in newly industrialising countries. 5. 1918-1939: Protectionism and the inter-war catastrophe. 6. 1945-1979: The New International Economic Order. Convergence, divergence and the evolution of

poverty trends. 7. The rise of the multinational corporation and technical diffusion. 8. Liberalisation, the Washington Consensus and the ‘End of History’. 9. Prospects for the international economy and patterns of development. Teaching methods Lectures and workshops. Assessment One essay not exceeding 12 pages in semester 2 (50%); one 2-hour exam at the end of semester 2 (50%). Basic reading Semester 1 – Britain Marr, A. (2008) A History of Modern Britain, London: BBC, ISBN: 9780330439831 Floud, R. and Johnson, P. (2004) The Cambridge Economic History of Modern Britain: Volume 1,

Industrialisation, 1700-1760, Cambridge University Press, ISBN: 9780521527361; Volume 2, Economic Maturity, 1860-1939, Cambridge University Press, ISBN: 9780521527378; Volume 3, Structural Change and Growth, 1939-2000, Cambridge University Press, ISBN: 9780521527361

Maddison, A. (2001) The World Economy: A Millennial Perspective, Paris: OECD, ISBN: 9789264186088 Semester 2 – global economy Baten, J.(2016) A History of the Global Economy: 1500 to the Present, Cambridge: Cambridge University

Press, ISBN: 978110750180 Chang, Ha-Joon (2008) Bad Samaritans, London: Random House Business, ISBN: 9780745009353 Sachs, J. (2005) The End of Poverty: How We Can Make It Happen in Our Lifetime, London: Penguin,

ISBN: 9780141018669

15

This is an optional module for single honours Economics students. Nature of the subject

• Who has made the significant advances in the intellectual development of our discipline? • What economic principles and concepts have these ‘thinkers’ put forward? • How do these ‘thinkers’ contribute to how we research and teach in economics today? • What is the continuing impact of these ‘thinkers’ on our understanding of the ways in

which governments, businesses, investors and individuals make decisions today? Aims of the module The module aims are:

• to introduce students to a range of classical and contemporary economists, and to outline their contributions to the discipline of economics.

• to explain how these economists have influenced our own thinking and the kinds of economic research that is undertaken at Sheffield.

• to provide examples of the relevance of classical and contemporary economists to current economic issues.

Learning objectives By the end of the module, students will:

• have an understanding of the historical roots and some contemporary developments in economics.

• be able to compare and contrast different analytical approaches to current problems in economics.

• have an appreciation of the breadth and depth of economics as a discipline, and some knowledge of the diversity of economics research undertaken in the department at Sheffield.

Syllabus This module introduces students to a range of classical and contemporary economists, including the founders of the discipline and some Nobel Prize winners, past and present. For each economist, a professorial member of the department will give a short biography, outline their contributions to the discipline of economics and the development of the subject, and explain how these economists have influenced their own thinking and the research that is undertaken in economics today. Examples of the contribution of these economists to a range of current economic issues will also be used to illustrate the continuing relevance and application of their ideas. Teaching methods Lectures and workshops, with two lectures and one workshop dedicated to each of the nine classical and contemporary economists studied (including Adam Smith, Karl Marx, John Maynard Keynes and Daniel Kahneman). Assessment Two one-hour class tests (each worth 30% of the overall mark) and an essay at the end of the module (worth 40%). Basic Reading Ha-Joon Chang (2014) Economics: The User’s Guide, Pelican, ISBN: 9780718197032

Classical and Contemporary Thinkers in Economics ECN109 Prerequisites Module Leader Semester Credits None Professor Sarah Brown Academic year 20

16

Mathematical Methods for Economics 1 ECN118 Prerequisites Module Leader Semester Credits

Restricted to students on a degree course for which this is a core unit. Cannot be taken with MAS110 or MAS152

Dr Pamela Lenton Academic year

20

This is the core mathematics module for students who do not have A Level Mathematics. Nature of the subject To introduce the basic mathematical skills that are essential for economists. Aims of the module To provide an insight into the importance of mathematical methods in economics and to introduce and apply a range of mathematical techniques to economic problems. Learning objectives By the end of this module students will be expected to demonstrate:

• acquisition of the essential mathematical skills used in economic analysis. • an ability to make use of the mathematical approach in formulating and analysing

problems in economics, and recognition of its limitations. • the facility to solve a range of specific economic problems.

Syllabus Topics covered in the course include: revision of algebra; linear and simultaneous equations; differential calculus; elasticity; integration; constrained optimisation and matrix algebra. All topics are demonstrated with economic applications. Teaching methods Twenty two lectures over the academic year, which include 4 refresher mathematics lectures in the first two weeks of the course. Topics typically comprise a lecture covering mathematical technique and a lecture covering the economic application of the technique. There are also 20 interactive workshops and 10 problem solving/examples classes, which are tailored to those who need a gradual introduction to basic mathematics. Assessment An unseen end-of-module examination (50%), plus two class tests (25% each). Basic reading The key text for this module, to which frequent reference will be made, is: Renshaw, G. (2011) Maths for Economics, 3rd edition, Oxford University Press, ISBN: 9780199602124 For further reading: Jacques, I. (2012) Mathematics for Economics and Business, 8th edition, Pearson, ISBN: 9780273763567

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Mathematical Methods for Economics 2 ECN119 Prerequisites Module Leader Semester Credits

Restricted to students on a degree course for which this is a core unit. Cannot be taken with MAS110 or MAS152

Dr Panagiotis Nanos Academic year

20

This is the core mathematics module for students with A Level Mathematics or equivalent. Nature of the subject To introduce the basic mathematical skills required by economists. Aims of the module To provide an insight into the importance of mathematical methods in economics and to introduce and apply a range of mathematical techniques to economic problems. Learning objectives By the end of this module students will be expected to demonstrate:

• acquisition of the essential mathematical skills used in economic analysis. • an ability to make use of the mathematical approach in formulating and analysing

problems in economics, and recognition of its limitations. • a capability to solve a range of mathematically-formulated economics problems.

Syllabus Topics covered in the course include: revision of algebra; functions; differential calculus; integration; constrained optimisation; matrix algebra. All topics are demonstrated with economic applications. Teaching methods Twenty two lectures over the academic year, which include refresher mathematics in the first two weeks of the course. Topics typically comprise a lecture covering a mathematical technique and a lecture covering the economic application of the technique. There are also 10 workshops and 10 problem solving/examples classes, which are tailored to those who already have a good knowledge of mathematics. Assessment An unseen end-of-module examination (50%) plus two class tests (25% each). Basic reading The key text for this module, to which frequent reference will be made, is: Renshaw, G. (2011) Maths for Economics, 3rd edition, Oxford University Press, ISBN: 9780199602124 For further reading: Jacques, I. (2012) Mathematics for Economics and Business, 7th edition, Pearson, ISBN: 9780273763567

18

Statistical Methods for Economics ECN120 Prerequisites Module Leader Semester Credits Restricted to students on a degree course for which this is a core unit. Cannot be taken with MAS113

Mr Simon Tebbutt Academic year

20

This is the core statistics module for single honours and BA dual honours Economics students. Nature of the subject Statistics comprises the rules and procedures for collecting, describing, analysing and interpreting quantitative and qualitative data. These skills find a wide range of uses in economics. Aims of the module

1. To introduce statistical methods and provide an insight into their uses in economics. 2. To demonstrate application of a range of statistical techniques to economic problems.

Learning objectives By the end of this module students will be expected to demonstrate:

1. Skills in describing, analysing and interpreting statistical data. 2. Understanding of the principles and assumptions on which these procedures are based. 3. The ability to analyse statistical data using MS Excel. 4. The ability to relate statistical methodology to economic enquiry.

Syllabus Topics include collection and presentation of data, descriptive statistics, probability and applications, statistical inference, correlation and regression. Teaching methods Lectures, workshops and tutorials. Assessment An unseen examination (50%) plus two class tests (50%). Basic reading Barrow, M. (2013) Statistics for Economics, Accounting and Business Studies, 7th edition, Pearson, ISBN: 9780273788508

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Economic Analysis and Policy ECN130 Prerequisites Module Leader Semester Credits Restricted to students on a degree course for which this is a core unit. Cannot be taken with ECN101

Mr Simon Tebbutt Academic Year

40

This is a core economics module for single and dual honours Economics students. Nature of the subject The module explores both microeconomics – the study of individuals, households and firms – and macroeconomics – the study of the aggregate economy. Aims of the module The module aims first to introduce the foundations of economic analysis, providing students with a basic knowledge of both microeconomics and macroeconomics. It then builds on these foundations to enable students to develop a good understanding of the methods of analysis used in microeconomics and macroeconomics, and develops the ability of students to apply these methods of analysis to contemporary economic problems. Learning objectives By the end of this module students will be expected to demonstrate: • an understanding of the basic elements of microeconomic theories of choice, as applied to individuals, households and firms • an understanding of basic macroeconomic models and their applications • an understanding of, and an ability to apply, relevant methods of economic analysis to contemporary microeconomic and macroeconomic problems • a basic background knowledge of recent economic policy issues • development of both analytical and essay writing skills Syllabus Microeconomics: thinking like an economist; the basis for exchange (comparative advantage); demand, supply and market equilibrium; the individual as a consumer: rational choice decision, demand and supply; the concept of elasticity; government intervention in the market; indifference curve analysis; the individual as a supplier of labour; production and cost (including isoquant/isocost analysis); market structure; the labour market and other factor markets; risk, information and insurance; welfare economics and government intervention Macroeconomics: national income accounting; consumption function and the income-expenditure model; investment and the rate of interest; the demand for money and the supply of money; the IS-LM model; fiscal and monetary policies; short run and long run, inflation and unemployment; the Phillips curve; open economies and currency areas, case studies – recent events in the UK and other significant economies Teaching methods Forty lectures (two per week – usually one microeconomics and one macroeconomics) plus sixteen tutorials (eight micro and eight macro). In addition, there will be 20 hours of workshops, spread over the academic year. Assessment The final examination will count for 75% of the overall module mark and the remainder will come from within-module assessment. Basic reading The key text for this module, to which frequent reference will be made, is: Begg, D., Vernasca, G., Fischer, S. and Dornbusch, R. (2014) Economics, 11th edition, McGraw-Hill, ISBN: 9780077154516