section 1: basic data

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Programme Specification

Section 1: Basic Data

Awarding institution/body

UWE

Teaching institution Delivery Location

UWE UWE, Frenchay National Economics University, Vietnam (NEU)

Faculty responsible for programme

Faculty of Business and Law

Programme accredited by

Not Applicable

Highest award title

BA (Hons) Economics (Money Banking and Finance);

Default award title

Interim award title

BA Economics(Money Banking and Finance); Diploma in Higher Education Certificate in Higher Education

Modular Scheme title (if different)

N/A

UCAS code (or other coding system if relevant)

LN1313

Relevant QAA subject benchmarking group(s)

Economics

On-going/valid until* (*delete as appropriate/insert end date)

Ongoing

Valid from (insert date if appropriate)

September 2000 (revised September 2012)

Authorised by… Date:… Version Code 4 For coding purposes, a numerical sequence (1, 2, 3 etc.) should be used for successive programme specifications where 2 replaces 1, and where there are no concurrent specifications. A sequential decimal numbering (1.1; 1.2, 2.1; 2.2 etc) should be used where there are different and concurrent programme specifications

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Section 2: Educational aims of the programme The B.A. (Honours) Economics (Money, Banking, and Finance) has been designed to allow students to acquire the skills and intellectual attributes associated with employment or further study as an economist. As the programme progresses, learning and skills developed through the study of economics modules are applied to a wide range of economic issues. Students will also specialise in a variety of areas relating to monetary economics and the economics of banking and finance. By their final year, students will be equipped by their first two years of study (which may be further enhanced by the opportunity to complete a work placement) to undertake both integrative and specialist subjects, and to complete an independent research-based piece of work of their choosing within the field of Economics. The programme's philosophy is underpinned by a commitment to developing students as independent autonomous learners. This provides them with flexibility of opportunity on successful completion of their degree either to study economics at postgraduate level or to use their in-depth knowledge of monetary economics and the economics of banking and finance in a whole range of occupations.

The programme aims to

Provide a general educational experience in which students might acquire knowledge, skills, and those virtues associated with scholarship, objectivity, learning, and reflection.

Promote critical, creative, and analytical thinking.

Foster critical study, through collaborative and independent learning. This aim includes the promotion of self-criticism and reflexive awareness.

Teach academically challenging and vocationally relevant modules in Economics and thereby enable students to understand the economic features of the world.

Provide a general foundation for the world of work by equipping students with the broad range of skills, understanding, and knowledge employed in a wide range of vocations.

Offer the opportunity to experience and reflect on working in an organisation

Prepare for a career in private and/or public sector organisations.

Acknowledge the wide diversity of students and their interests through a flexible programme, enabling the student to choose between a variety of modules in order to meet their particular educational needs and to foster their individual development.

Impart a broad range of skills: discipline specific, cognitive, and general transferable skills, which, together with the points above provide the student with a sound basis for further study.

Assist students realise their potential.

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Section 3: Learning outcomes of the programme The award route provides opportunities for students to develop and demonstrate knowledge and understanding, qualities, skills and other attributes in the following areas:

(A) Knowledge and understanding

Learning outcomes

Teaching, Learning and Assessment Strategies

(A) Knowledge and understanding of: On completion of the programme students will have developed an understanding of a complex body of knowledge, some of it at the current boundaries of the discipline, in the areas of: 1. economic concepts and principles;

2. economic theory and modelling;

3. quantitative methods and computing techniques;

4. sources and context of economic data and evidence;

5. economic reasoning;

6. specialised areas of economics;

7. economic problems and solutions.

Teaching/learning methods and strategies: Acquisition of skills 1 to 7 is through lectures, seminars, workshops and guided independent study as appropriate to each module. In addition, skill 3 is further developed through practical workshops in the computer labs, specialist technical instruction, and tutorial support. Lectures are used to provide overviews of topics, and to stimulate and enable the student's critical thinking through exemplification and demonstration of key ideas, questions and debates. Seminars are used for discussion and further exploration of issues based upon readings, problem-solving, and presentations. Seminars use a wide range of teaching and learning strategies. In addition, office hours for academic staff are made available where students can obtain individual support and guidance. Throughout the programme, the student is encouraged to undertake independent reading both to supplement and consolidate what is being taught/learnt and to broaden their individual knowledge and understanding of the subject. Assessment: Students are assessed mainly through course work in the form of essays, presentations and project work. A proportion of all assessment is undertaken under controlled conditions (a minimum of 25% per module) which normally include an element of formal examination.

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(B) Intellectual Skills

(B) Intellectual Skills

Students should develop the capacity to: 1. model a problem; 2. analyse and reason; 3. review and evaluate evidence; 4. communicate results; 5. be critically aware of the limits of economics; 6. construct economic policy.

Teaching/learning methods and strategies

Intellectual skills are developed for skills 1, 2 and, 3 through attending lectures and intellectual debate in seminars and reading both primary and critical material. In particular, skills 3 and 4 are acquired by writing critical essays and/or quantitative assignments and by the project module. Skills 5 and 6 are achieved through a combination of the above and by progression through the award from core modules through to more self directed learning on optional modules and the project. Assessment

The variety of assessment methods employed all place great emphasis on the learner’s ability to demonstrate skills 1 - 6 through short and long essays and/or quantitative assignments, presentations, dissertations, and examinations. A minimum of 25% of modular assessment is based on controlled conditions exercises.

(C) Subject, Professional and Practical Skills

(C) Subject/Professional/Practical Skills

On successful completion of this award students will be able to demonstrate the following skills: 1. abstraction;

2. analysis, deduction and induction;

3. quantification and design; 4. framing.

Teaching/learning methods and strategies All of these skills are developed through a combination of lectures, tutorials, computer based learning (where appropriate) and assessment in the form of essays, quantitative assignments (again, where appropriate), presentations and the project module. In addition, the student’s self-awareness of their progress in acquiring these discipline specific skills (i.e. becoming an Economist) is facilitated by various activities carried out within the Graduate Development Programme (GDP). Assessment

All of these skills are developed through assessment in the form of essays, examinations, presentations, and the project module. Skill 3 may be further developed by quantitative assessment appropriate to certain modules.

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(D) Transferable Skills and other attributes

(D) Transferable skills and other attributes On successful completion of this award students will be able to demonstrate the ability to:

1. communicate;

2. use numeracy;

3. use information technology (IT);

4. work as a team; 5. self-manage;

6. learn to learn;

Teaching/learning methods and strategies Students learn written communication skills through formal assignments, examinations and tests, while verbal communication skills are developed through presentations in seminars and workshops. Numeracy skills are an inherent part of the study of economics and are developed in the context of each module’s topics through lectures, seminars, and assessment. IT applications are an integral part of all modules in this award, where appropriate students will be shown how to use software applications relevant to the discipline (e.g. Excel, Microfit and SPSS) and those relevant to their career (e.g. the software packages typically found Microsoft Office) Group work is a common feature in many seminar activities (across all levels of study). Some modules specifically encourage team work by, for example, requiring groups of students to research a given topic and present the findings in the seminar (often as a formally assessed presentation). More generally at levels 2 and 3 ‘working as a team’ is demonstrated through the student’s exposure to the collaborative work found in peer reviewed articles that increasingly feature in many Economic journals. At the programme level, the team ethos is encouraged by student involvement with Programme Management Committee meetings (PMCs), and participation in the Peer Assisted Learning programme (PAL). In a formal educational context, the principle manifestation of self-managing is the student’s engagement with their formal assessment activities. To this end in all modules students are encouraged (and facilitated) to plan ahead when tackling formal assessment tasks. More generally, all students are encouraged to reflect on how choices in their work/life balance can have an impact on their assessment preparations and final achievements. Learning to learn requires students to reflect on their progress to date. To this end all modules place a strong emphasis on the students’ engagement with and, responding to, the feedback offered on all formally assessed work. More generally, the concept of learning to learn is developed and explored by demonstrating how it applies to the way Economic knowledge has evolved and developed by on-going research. Assessment Across all modules a variety of formative and summative assessment, methods are employed to enable students to demonstrate their acquisition of these transferable skills.

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Section 4: Programme structure

ENTRY

level 1

Compulsory modules Economic Principles UMED3A-20-1 Financial Institutions and Markets UMED4A-20-1 Issues in International Business Economics UMED5A-20-1 A Quantitative Approach to Economics UMED6A-20-1 Understanding Financial Information (AEF) UMACXA-20-1 Becoming a Practical Economist

UMED9E-15-1 (15 credits) Economic Principles Independent Study Essay UMEDAY-5-1

(5 credits) or Issues in International Business Economics Independent Study Essay

UMEDA2-5-1 (5 credits) or Becoming a Practical Economist Independent Study Essay

Optional modules No optional modules are available at level 1

Interim Awards: CertHE Economic Credit requirements: 120 at the appropriate level Progression: To progress from Level 1 to Level 2 a student would normally be required to have a minimum of 80 credits at Level 1.

level 2

Compulsory modules Macroeconomics UMED7B-20-2 Microeconomics UMED8B-20-2 Research Methods UMEDBB-20-2 Finance and the Economy UMED4B-20-2 Economics of Money and Banking UMED9B-20-2 .

Optional modules Students must choose ONE 20 credit module from the field of Economics. These include: Modelling & Estimation UMED6B-20-2 Emerging Economies UMEDCB-20-2 Good Business, Bad Business and Sustainability UMED33-20-2 International Trade and Multinational Business (UMED5B-20-2

Interim Awards: DipHE Economics Credit requirements: 240 at the appropriate level Progression: To progress from level 2 to the placement year a student would normally be required to have 120 credits at Level 1 and a minimum of 100 credits at Level 2.

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ut There is an optional placement year.* Students taking the "sandwich" route undertake

a work placement of at least 40 weeks in this year. Placement credits will be awarded for successful completion of the placement which is necessary for the sandwich award. The assessment of the placement will include satisfactory completion of a portfolio of activities by the student.

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level 3

Compulsory modules Project UMEDDC-40-3 Monetary Economics UMED7C-20-3 Economics of International Financial Markets UMED4C-20-3

Optional modules Students must take two 20 credit modules from the field of Economics, these include; Asset Pricing UMEDEC-20-3 Econometrics UMECRW-20-3 Sustainable Business UMEDFC-20-3 The Economics of Developing Countries UMED9C-20-3

Prerequisite requirements 200 credits at the appropriate level Awards: Target/highest title: BA (Hons) Economics (SW) or BA (Hons) Economics (FT) Credit requirements BA (Hons): 360 credits at the appropriate levels Interim title: BA Economics(SW) or BA Economics (FT) Credit requirements BA: 300 credits at the appropriate levels

GRADUATION * Where students are unable to complete an appropriate work placement they may continue their degree on the BA (Hons) Economics (FT).

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Section 5: Entry requirements Candidates must be able to satisfy the general admissions requirements of the University of the West of England with specific requirements as detailed below: GCSE in Maths and English (Grade C or higher) And Tariff points 300 in any subject excluding General Studies. Or EDEXCEL Diploma (Final year): 6 merits or 4 distinctions and 2 Merits. Or Approved Access route Or Baccalaureate: EB: 70% or IB: 26 points Or Irish Highers: BBB-BBBB Entry at levels 2 and 3 The programme supports direct entry at level 2 and 3 using AL and AEL processes where appropriate. If English is not your first language, test results such as IELTS 6.0, TOEFL 570 (or 230 if computer test, NEAB or Cambridge Proficiency grade C are required.

Section 6: Assessment Regulations All assessment is governed by the University’s current Academic Regulations and Procedures

Section 7: Student learning: distinctive features and support This programme is designed in support of the Teaching, Learning and Assessment Strategy of the Business School, which has five key strands. They are:

1. The development of autonomous learners. 2. Provision of learning opportunities, which are personally and professionally relevant and quality

assured.

3. The maintenance of a supportive learning environment.

4. The promotion of the scholarship of teaching.

5. The provision of continuing professional development opportunities for all staff within a culture of reflective practice.

CURRICULUM DESIGN CONTENT AND ORGANISATION The programme is delivered within a modular scheme, which allows credit accumulation and flexibility in the student learning process. The BBS undergraduate provision is organised around 20 credit modules, with the exception of the final year project module (UMEDDC-40-3) which is a 40 credit module. Therefore, students study 6 modules at Levels 1 and 2, and 5 modules at Level 3. The modules are taught as 'long thin' modules. This means that they are taught across the whole of the academic year, teaching periods one and two, with examinations in teaching period three. The programme is organised within and between each of the three levels, where it is designed to provide a coherent set of modules at each level and to allow students to develop and progress through each level; in relation to knowledge and understanding, cognitive, subject-specific and study skills. Level 1 provides students with a general foundation in Economics to enable them to develop those skills and knowledge required for, and underpinning, their subsequent years of study. At Level 2, the three compulsory modules are structured around the key functional areas of Economics (i.e. microeconomics, macroeconomics and research methods). Two additional compulsory modules: Finance and the Economy (UMED4B-20-2) and the Economics of Money and Banking (UMED9B-20-2) enable students to develop their specialist knowledge in monetary economics and the economics of banking and finance.

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In addition, students are able to develop and specialise around their particular area of interest by choosing one optional module. Level 3 has been designed to integrate the academic knowledge gained in the first two years of study to enable students to gain a deep understanding of what it means to be an economist. To this end, the project module allows students to conduct a detailed study of an economic problem of their choice. In addition, alongside the project, Monetary Economics and the Economics of International Financial Markets enable students to develop their knowledge and understanding of current research in monetary economics and the economics of banking and finance. Finally, students also study one Economics module, providing an even greater depth of focus on their specific area of interest. Teaching contact is standard across all 20 credit modules, comprising of a lecture and a workshop each week. This consistency in delivery enables students to settle in to a learning routine that places great emphasis on the role that reflection, debate and discussion play in their development as an economist. To reflect the change in students from dependent to independent learners, the seminar activities progress from those that are highly structured (didactic) at level 1 to those that are more discursive and reflective at levels 2 to 3. (This progression is also reflected in the nature and focus of the formal assessments that occur at levels 2 and 3) In addition and supporting the student’s progression from level 1 to level 3 all students will have the opportunity to participate in the University’s Graduate Development Programme (GDP) (for the generic UWE GDP specification see www.uwe.ac.uk/gdp). GDP lasts throughout the student’s programme of study and each level focuses on different aspects of the student’s overall development. Level 1 focuses on developing the students’ approaches to learning and their appreciation for the need to understand the formal context of their learning when undertaking their degree at the UWE. Importantly and in addition, level 1 students are introduced to the Economics Benchmark Statement (www.QAE/Benchmanrks) as a way to develop their self-awareness that they are learning to become economists (as opposed to just ‘learning about economics’). At level 2 the predominant focus is the student’s employability firstly as economists, but more generally as well, which is particularly relevant for those student considering a placement. Level 3 then brings the entire student’s university experiences together to enable them to plan for their future as UWE graduands, again while preparation for employment is the prime focus at level 3; this is not done at the expense of exploring choices for further study at postgraduate level. TEACHING, LEARNING AND ASSESSMENT The teaching, learning and assessment strategy of Bristol Business School (and its collaborating faculties) encourages students to assume responsibility for many aspects of their learning and staff to take responsibility for facilitating that learning. The balance of student and staff responsibility varies according to individual student profiles, academic level and according to the nature of the learning outcomes the students are expected to meet. Ultimately, the aim of this programme is to enable students to progress to a high level of autonomy in their learning and to view that learning as an ongoing process over which they have some control, about which they are able to make active choices, and which they are free to challenge. To achieve this, an appropriate blend of learning approaches and opportunities have been integrated throughout the programme with an overall emphasis on active student participation. The Business School ‘blend’ consists of face to face learning in large and small groups (lectures and workshops) supported by on-line learning through the institutional Virtual Learning Environment – Blackboard , together with exposure to real life examples through case studies, occasional organisational visits and guest practitioner speakers. There is a significant requirement for students to work independently throughout the programme – both individually and in groups - with the level of this independence increasing as the student moves from level one to level three. In total, teaching contact accounts for less than 25% of the student learning hours associated with the module. Subject specific, professional and transferable skills are developed throughout the programme and in more depth in identified modules. Thus quantification and numeracy are developed through A Quantitative Approach to Economics (UMED6A-20-1), and Research Methods (UMEDBB-20-2). Analysis, deduction and induction while implicit in all modules is specifically explored in Research Methods (UMEDBB-20-2). Likewise abstraction and framing features in all the economics modules (compulsory or optional). The final year dissertation module allows students to explore a substantial issue utilising appropriate concepts, frameworks and methodologies in a highly independent manner. In addition and in terms of transferable skills, the Project module (UMEDDC-40-3) places a strong emphasis on communication, self-management and the use of standard (and specialised) IT software. The teaching and learning methods used in the programme intend to challenge the existing perspectives of the students and encourage creative thinking. Thus many approaches are used to add depth and complexity and to ensure an applied focus. These approaches include for example, case studies, the application of set concepts to economic problems in a wide range of contexts (from the topical

http://www.uwe.ac.uk/gdp

http://www.qae/Benchmanrks

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to the historical) and the review of past and present economic journal articles. Teaching is therefore based on research literature, professional experience, and significant use of debate and discussion. All sandwich students undertake a work placement of 40 weeks or more. This provides a rich process in which the student can reassess themselves and confront the challenges of carrying out a role in a new organisation whilst knowing that they will have the opportunity to be supported if there is a problem and that they will be returning to the programme for a further period of reflection and learning after the placement is completed. BA (Hons) Economics (Money, Banking, and Finance) students will normally undertake a placement in an economics environment, which further supports the development of their specialist knowledge and skills. Assessment is an integral part of the teaching and learning process. The range of assessments indicated have been incorporated to:

test the students’ ability to integrate concepts theories and practice;

ascertain their learning strengths and weaknesses and continuing development needs;

expose students to a variety of assessment methods in order to promote the growth of their lifelong learning skills. The faculty supports the University’s Academic Regulations and Procedures and its requirement for controlled conditions to apply to part of the assessment of every module. Forms of assessment commonly used in controlled and non-controlled conditions assessment are: invigilated timed assignments including examinations, presentations, in-class tests, self and peer assessments, individual and group projects and supervised mini-projects, dissertations, and employer and self-assessment of the placement. LEARNING RESOURCES All modules have teaching/learning resource booklets and most have set texts in accordance with the University’s Reading Strategy. Additional support is provided through the library and an extensive student computing network. All undergraduate modules use the institutional Blackboard system to thus provide

students with 24/7 access to module information and resources on and off campus. Students will be directed towards the University Library online Study Skills resources for the development of skills appropriate to the level and style of the module. Students will be directed on how the resources on this site should be used to develop the skills that will underpin their studies in the module handbook and/or via Blackboard. STUDENT SUPPORT AND GUIDANCE Student support is provided by academic staff, usually module leaders, for all issues relating to the content, delivery and assessment of modules. The Business School Student Advice Centre provides timely, accurate and confidential advice where necessary on all aspects of the provision, for example coursework and examination arrangements, extenuating circumstances procedures, progression counselling, as well as personal issues such as problems with studying or meeting deadlines, financial matters, ill heath and so on, including when relevant how to access the wider support provided by the University. Additional academic support and guidance is provided by Programme Managers who are also responsible for ensuring the collection of and response to student feedback using student representatives and Programme Management Committees. The faculty has a Student Experience Group that oversees the development and implementation of faculty policy concerning widening participation and student support and guidance. The Business School Placements Office provides extensive support for students in preparation for, as well as throughout, their placement period and acts as a recruitment service for employers. Students seeking employment opportunities during their studies have access to the university’s Job Shop and are also encouraged to develop valuable skills by volunteering with the Community Volunteer Service. Further student support is provided by the Business School through the UG administration team, and the Admissions Office. The needs of direct entry students are also recognised and met through an additional induction day. The Global Student Support unit provides support to assist international students in adapting to life in the UK. All students have a formal induction week to socialise them to university life and to provide them with the means to access the support that they may require during their study at UWE. A student handbook documents this for students, as does the Business School website. There are a range of central services offered to students. These include Student Advice and Welfare for advice on finance and the university’s counselling provision; Career Development Unit for careers

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information; information technology services, student accommodation services, sports facilities, student union services, the Chaplaincy, and the Centre for Performing Arts. Support to students with disability is offered both at the Faculty level under the remit of the Leader of Student Support & Guidance and centrally through the University’s Disability Resource Service. The Leader of Student Support and Guidance coordinates academic support for disabled students in the Faculty. This includes communication of individual student’s support requirements to teaching and support staff and advice and recommendations on reasonable adjustments to teaching and assessment. The LSSG also coordinates staff development on disability issues and provides information and advice to academic and support staff and to students in relation to disability issues. Together, these act as a holistic service for disabled students and applicants to the University and also support the academic and administrative staff members who work with disabled students.

Section 8: Reference points/benchmarks Three key influences have informed the design of this award:

1. The University’s mission statement 2. The QAA Economics benchmark statements. 3. The SEEC (Southern England Consortium for Credit Accumulation and Transfer) Credit Level

Descriptors 2001 1. The University’s Mission Statement This award reflects the spirit of the university’s mission to “advance an inclusive, civilised and democratic society and its enrichment through education, research, consultancy and public service” (www.uwe.ac.uk/vision). The award meets the university’s stated aspirations of: Promoting educational opportunity, - through entry onto the programme and also the encouragement of AL, AEL and ACE processes where appropriate. Exciting and enabling students to shape and enjoy a first class educational and social experience which enlarges the mind, - through the academic content of the modules as well as providing the opportunity to spend a year on a work placement. Command an exceptionally high reputation amongst employers, - through both the work placement and the high achievements of graduate degree classifications from the BABS award, students are exceptionally well placed for management and professional positions on graduation. Emphasise the importance of values, the pursuit and utility of knowledge, and the advancement of culture, - through specific academic input at levels 1,2 and 3 and the students’ working environment and resources both here in Bristol and whilst on their placement. 2. The QAA Economics Benchmark Statement The proposed award does purport to achieve these benchmark statements in full (please see Appendices 1 and 2 for details). 3. The SEEC (Southern England Consortium for Credit Accumulation and Transfer) Credit Level Descriptors 2001 The proposed award, in common with all undergraduate provision in the Business School conforms with the credit level descriptors (Please refer to Appendix 3)

Programme Specification Status and Further Information This specification provides a concise summary of the main features of the programme and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided. More detailed information on the learning outcomes, content and teaching, learning and assessment methods of individual modules can be found in module specifications. These are available on the University Intranet. Programme monitoring and review may lead to changes to approved programmes. There may be a time lag between approval of such changes/modifications and their incorporation into an authorised programme specification. Enquiries about any recent changes to the programme made since this specification was authorised should be made to the relevant Faculty Administrator.

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Appendix 1

Extracts from QAA Economic Benchmark Statements Key sections from the benchmark statements are summarised below. Section 3.1 The main aims of a degree programme in, or including economics as a major component, are:

to provide training in the principles of economics and their application appropriate to the type of degree concerned

to stimulate students intellectually through the study of economics and to lead them to appreciate its application to a range of problems and its relevance in a variety of contexts

to provide a firm foundation of knowledge about the workings of economic systems and to develop the relevant skills for the constructive use of that knowledge in a range of settings

to develop in students the ability to apply the knowledge and skills they have acquired to the solution of theoretical and applied problems in economics

to equip students with appropriate tools of analysis to tackle issues and problems of economic policy

to develop in students, through the study of economics, a range of generic skills that will be of value in employment and self-employment

to provide students with analytical skills and an ability to develop simplifying frameworks for studying the real world. They should be able to appreciate what would be appropriate levels of abstraction in order to study a range of economic issues

to provide students with the knowledge and skill base, from which they can proceed to further studies in economics, related areas or in multidisciplinary areas that involve economics

to generate in students an appreciation of the economic dimension of wider social, political and environmental issues.

Section 4.1 To achieve these aims, any single honours degree in economics normally comprises the following elements.

A coherent core of economic principles. The understanding of these might be verbal, graphical or mathematical. These principles should cover the microeconomic issues of decision and choice, the production and exchange of goods, the pricing and use of inputs, the interdependency of markets, the relationships between principals and agents, and economic welfare. They should also include the macroeconomic issues of employment, national income, the balance of payments, the distribution of income, inflation, growth and business cycles, money and finance. The understanding should extend to economic policy at both the microeconomic and macroeconomic levels. In all these, students should show an understanding of analytical methods and model-based argument and should appreciate the existence of different methodological approaches.

Relevant quantitative methods and computing techniques. These would include appropriate mathematical and statistical methods, including econometrics. Students should have exposure to the use of such techniques on actual economic, financial or social data, using suitable statistical or econometric software. A knowledge and appreciation of the nature, sources and uses of economic data, both quantitative and qualitative.

Students should also have some knowledge of and an ability to select and apply appropriate methods that the economist might use to structure and analyse such data.

The applications of economics. Students should have the ability to apply a core of economic principles and reasoning to a variety of applied topics. They should also be aware of the economic principles that can be used to design, guide and interpret commercial, economic, social and environmental, policy. As part of this, they should have the ability to discuss and analyse government policy and to assess the performance of the UK and other economies.

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Extracts from QAA Economic Benchmark Statements continued Section 5.3 Economics graduates also possess other, subject-specific but highly transferable, rigorous skills. This transferability is evidenced by the wide range of careers into which graduates in economics move. The development of these skills is particularly emphasized in the course of an undergraduate degree through the study of economic principles and economic methods. These skills may be summarised as follows.

Abstraction. From the study of economic principles and models, students see how one can abstract the essential features of complex systems and provide a useable framework for evaluation and assessment of the effects of policy or other exogenous events. Through this, the typical student will acquire proficiency in how to simplify while still retaining relevance. This is an approach that they can then apply in other contexts, thereby becoming more effective problem-solvers and decision-makers.

Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.

Quantification and design. Data, and their effective organisation, presentation and analysis, are important in economics. The typical student will have some familiarity with the principal sources of economic information and data relevant to industry, commerce, society and government, and have had practice in organising it and presenting it informatively. This skill is important at all stages in the decision-making process.

Framing. Through the study of economics, a student should learn how to decide what should be taken as given or fixed for the purposes of setting up and solving a problem, ie what the important 'parameters' are in constraining the solution to the problem. Learning to think about how and why these parameters might change encourages a student to place the economic problem in its broader social and political context. This 'framing' skill is important in determining the decision-maker's ability to implement the solutions to problems.

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Appendix 2 QAA National Qualifications Framework: a brief guide to academic qualifications The higher education qualifications awarded by universities and colleges in England, Wales and Northern Ireland are at five levels. In ascending order, these are the Certificate, Intermediate, Honours, Masters and Doctoral levels. Certificate level The holder of a Certificate of Higher Education will have a sound knowledge of the basic concepts of a subject, and will have learned how to take different approaches to solving problems. He or she will be able to communicate accurately, and will have the qualities needed for employment requiring the exercise of some personal responsibility. The Certificate may be a first step towards obtaining higher level qualifications. Intermediate level Holders of qualifications at this level will have developed a sound understanding of the principles in their field of study, and will have learned to apply those principles more widely. Through this, they will have learned to evaluate the appropriateness of different approaches to solving problems. Their studies may well have had a vocational orientation, enabling them to perform effectively in their chosen field. They will have the qualities necessary for employment in situations requiring the exercise of personal responsibility and decision-making. The intermediate level includes ordinary (non-Honours) degrees, the Foundation degree, Diplomas of Higher Education, and other higher diplomas. Honours level An Honours graduate will have developed an understanding of a complex body of knowledge, some of it at the current boundaries of an academic discipline. Through this, the graduate will have developed analytical techniques and problem-solving skills that can be applied in many types of employment. The graduate will be able to evaluate evidence, arguments and assumptions, to reach sound judgements, and to communicate effectively. An Honours graduate should have the qualities needed for employment in situations requiring the exercise of personal responsibility, and decision-making in complex and unpredictable circumstances. Masters level Much of the study undertaken at Masters level will have been at, or informed by, the forefront of an academic or professional discipline. Students will have shown originality in the application of knowledge, and they will understand how the boundaries of knowledge are advanced through research. They will be able to deal with complex issues both systematically and creatively, and they will show originality in tackling and solving problems. They will have the qualities needed for employment in circumstances requiring sound judgement, personal responsibility and initiative, in complex and unpredictable professional environments. Doctoral level Doctorates are awarded for the creation and interpretation of knowledge, which extends the forefront of a discipline, usually through original research. Holders of doctorates will be able to conceptualise, design and implement projects for the generation of significant new knowledge and/or understanding. Holders of doctorates will have the qualities needed for employment requiring the ability to make informed judgements on complex issues in specialist fields, and innovation in tackling and solving problems. Qualification nomenclature Public understanding of the achievements represented by higher education qualifications requires a consistent use of qualification titles. The following guidelines are designed to assist institutions in achieving consistency in the ways in which qualification titles convey information about the level, nature and subjects of study. Subject

Qualification titles that reflect the subject focus of programmes of study in two disciplines (e.g. a joint Honours award) should consider nomenclatures based on:

'A and B', where there is an approximately equal balance between two components;

'A with B' for a minor/minor combination where the minor subject accounts for at least a quarter of the programme.

Qualification titles should not normally reflect more than three subject components. Where there are more than three significant components, the title 'Combined Studies' would be appropriate.

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Appendix 3 SEEC Southern England Consortium for Credit Accumulation and Transfer Credit - Level Descriptors 2001

Level 4: HE Level 1 Development of Knowledge and Understanding (subject specific) The Learner:

Knowledge base: has a given factual and/or conceptual knowledge base with emphasis on the nature of the field of study and appropriate terminology;

Ethical issues: can demonstrate awareness of ethical issues in current areas of study and is able to discuss these in relation to personal beliefs and values.

Cognitive/Intellectual skills (generic) The Learner:

Analysis: can analyse with guidance using given classifications/principles

Synthesis: can collect and categorise ideas and information in a predictable and standard format

Evaluation: can evaluate the reliability of data using defined techniques and/or tutor guidance

Application: can apply given tools/methods accurately and carefully to a well defined problem and begin to appreciate the complexity of the issues

Key/transferable skills (generic) The Learner:

Group working: can work effectively with others as a member of a group and meet obligations to others (for example, tutors, peers, and colleagues)

Learning resources: can work within an appropriate ethos and can use and access a range of learning resources

Self evaluation: can evaluate own strengths and weakness within criteria largely set by others

Management of information: can manage information, collect appropriate data from a range of sources and undertake simple research tasks with external guidance

Autonomy: can take responsibility for own learning with appropriate support

Communications: can communicate effectively in a format appropriate to the discipline(s) and report practical procedures in a clear and concise manner

Problem solving: can apply given tools/methods accurately and carefully to a well defined problem and begin to appreciate the complexity of the issues in the discipline

Practical skills (subject specific) The Learner:

Application: can operate in predictable, defined contexts that require use of a specified range of standard techniques

Autonomy in skill use: is able to act with limited autonomy, under direction or supervision, within defined guidelines

Level 5: HE Level 2 Development of Knowledge and Understanding (subject specific) The Learner:

Knowledge base: has a detailed knowledge of major theories of the discipline(s) and an

awareness of a variety of ideas, contexts and frameworks

Ethical issues: is aware of the wider social and environmental implications of area(s) of study and is able to debate issues in relation to more general ethical perspectives


Analysis: can analyse a range of information with minimum guidance using given classifications/ principles and can compare alternative methods and techniques for obtaining data

Synthesis: can reformat a range of ideas and information towards a given purpose

Evaluation: can select appropriate techniques of evaluation and can evaluate the relevance and significance of the data collected

Application: can identify key elements of problems and choose appropriate methods for their resolution in a considered manner


Group working: can interact effectively within a team / learning group, giving and receiving

16

information and ideas and modifying responses where appropriate

Learning resources: can manage learning using resources for the discipline. Can develop working relationships of a professional nature within the discipline(s)

Self evaluation: can evaluate own strengths and weakness, challenge received opinion and develop own criteria and judgement

Management of information: can manage information; can select appropriate data from a range of sources and develop appropriate research strategies

Autonomy: can take responsibility for own learning with minimum direction

Communications: can communicate effectively in a manner appropriate to the discipline(s) and report practical procedures in a clear and concise manner in a variety of formats

Problem-solving: can identify key areas of problems and choose appropriate tools / methods for their resolution in a considered manner


Application of skills: can operate in situations of varying complexity and predictability requiring application of a wide range of techniques

Autonomy in skill use: able to act with increasing autonomy, with reduced need for supervision and direction, within defined guidelines.

Level 6: He Level 3 Development of Knowledge and Understanding (subject specific) The Learner:

Knowledge base: has a comprehensive/detailed knowledge of a major discipline(s), with areas of specialisation in depth, and an awareness of the provisional nature of knowledge

Ethical issues: is aware of personal responsibility and professional codes of conduct and can incorporate a critical ethical dimension into a major piece of work


Analysis: can analyse new and/or abstract data and situations without guidance, using a range of techniques appropriate to the subject

Synthesis: with minimum guidance can transform abstract data and concepts towards a given purpose and design novel solutions

Evaluation: can critically evaluate evidence to support conclusions/recommendations, reviewing its reliability, validity and significance. Can investigate contradictory information/identify reasons for contradictions

Application: is confident and flexible in identifying and defining complex problems and can apply appropriate knowledge and skills to their solution


Group working: can interact effectively within a team / learning / professional group, recognise, support or be proactive in leadership, negotiate in a professional context and manage conflict.

Learning resources: with minimum guidance can manage own learning using full range of resources for the discipline(s). Can work professionally within the discipline.

Self-evaluation: is confident in application of own criteria of judgement and can challenge received opinion and reflect on action. Can seek and make use of feedback.

Information management: can select and manage information, competently undertaking

reasonably straight-forward research tasks with minimum guidance

Autonomy: can take responsibility for own work and can criticise it

Communications: can engage effectively in debate in a professional manner and produce detailed and coherent project reports

Problem solving: is confident and flexible in identifying and defining complex problems and the application of appropriate knowledge, tools / methods to their solution


Application of skills: can operate in complex and unpredictable contexts, requiring selection and application from a wide range of innovative or standard techniques

Autonomy in skill use: able to act autonomously, with minimal supervision or direction, within agreed guidelines

17

Appendix 4: Structure diagram: BA (Hons) Economics (Money Banking and Finance) 2012/13

Level 3

Project (pre req M&E or RM) UMEDDC-40-3

Monetary Economics (pre req EMB) UMED7C-40-3

Economics of International Financial Markets (pre req F&TE or Macro) UMED4C-20-3

One from Level 3 Option List ***

One from Level 3 Option List ***

Level 2P

Work Placement (Compulsory for SW students)

Level 2

Macroeconomics (pre req EP & QAE) UMED7B-20-2

Microeconomics (pre req EP & QAE) UMED8B-20-2

Research Methods (pre req EP & QAE) UMEDBB-20-2

Finance and the Economy (pre req EP) UMED4B-20-2

Economics of Money & Banking (pre req EP) UMED9B-20-2

One from Level 2 Option List**

Level 1

Economic Principles UMED3A-20-1

Financial Institutions and Markets UMED4A-20-1

Issues in International Business Economics UMED5A-20-1

A Quantitative Approach to Economics UMED6A-20-1

Understanding Financial Information UMAC33-20-1

Becoming a Practical Economist (15 credit) UMED9E-15-1 And either Economic Principles Independent Study Essay (5 credit) UMEDAY-5-1 or Issues in International Business Economics Independent Study Essay (5 credit) UMEDA2-5-1

18

**Level 2 Option List Modelling and Estimation (UMED6B-20-2) (pre-reg EP and QAE) Emerging Economies (UMEDCB-20-2) (pre-reg EP) Good Business, Bad Business and Sustainability(UMED33-20-2) (pre-reg EP) International Trade and Multinational Business (UMED5B-20-2) (pre-reg EP) A non-Economics BBS Option

Level 3 Option List *** Asset Pricing (UMEDEC-20-3) (pre-req FATE OR Micro) Econometrics (UMECRW-20-3) (pre-req M&E plus Micro OR Macro) Sustainable Business (UMEDFC-20-3) (pre-reg EP) The Economics of Developing Countries (UMED9C-20-3) (pre-req Micro OR Macro ) Level 2 Option

19

Appendix 5 Compulsory Modules Optional Modules

Module Map BA (Hons) Economics (Money Banking and Finance):

LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 1 LEVEL 2

LEARNING OUTCOMES SECTION A: KNOWLEDGE AND UNDERSTANDING OF:

UM

ED

3A

--2

0-1

UM

ED

4A

-20-1

UM

ED

5A

-20-1

UM

ED

6A

-20-1

UM

AC

33

-20-1

UM

ED

9E

-15-1

U

ME

DA

Y-5

-1

UM

ED

7B

-20-2

UM

ED

8B

-20-2

UM

ED

BB

-20-2

UM

ED

4B

-20-2

UM

ED

9B

-20-2

UM

ED

DC

-40-3

UM

ED

7C

-20-3

UM

ED

4C

-20-3

UM

ED

6B

-20-2

UM

ED

CB

-20-2

UM

ED

33

-20-2

UM

ED

5B

-20-2

UM

ED

EC

-20-3

UM

EC

RW

-20-3

UM

ED

FC

-20-3

UM

ED

9C

-20-3

1 economic concepts and principles;

2 economic theory and modelling;

3 quantitative methods and computing techniques;

4 sources and context of economic data and evidence;

5 economic reasoning;

6 specialised areas of economics;

7 economic problems and solutions




20

SECTION B: INTELLECTUAL SKILL:

UM

ED

3A

--2

0-1

UM

ED

4A

-20-1

UM

ED

5A

-20-1

UM

ED

6A

-20-1

UM

AC

33-2

0-1

UM

ED

9E

-15-1

U

ME

DA

Y-5

-1

UM

ED

7B

-20-2

UM

ED

8B

-20-2

UM

ED

BB

-20-2

UM

ED

4B

-20-2

UM

ED

9B

-20-2

UM

ED

DC

-40-3

UM

ED

7C

-20-3

UM

ED

4C

-20-3

UM

ED

6B

-20-2

UM

ED

CB

-20-2

UM

ED

33-2

0-2

UM

ED

5B

-20-2

UM

ED

EC

-20-3

UM

EC

RW

-20-3

UM

ED

FC

-20-3

UM

ED

9C

-20-3

1 model a problem;

2 analyse and reason;

3 review and evaluate evidence;

4 communicate results;

5 be critically aware of the

limits of economics;

6 construct economic policy




21

SECTION B: INTELLECTUAL SKILL:

UM

ED

3A

--2

0-1

UM

ED

4A

-20-1

UM

ED

5A

-20-1

UM

ED

6A

-20-1

UM

AC

33-2

0-1

UM

ED

9E

-15-1

U

ME

DA

Y-5

-1

UM

ED

7B

-20-2

UM

ED

8B

-20-2

UM

ED

BB

-20-2

UM

ED

4B

-20-2

UM

ED

9B

-20-2

UM

ED

DC

-40-3

UM

ED

7C

-20-3

UM

ED

4C

-20-3

UM

ED

6B

-20-2

UM

ED

CB

-20-2

UM

ED

33-2

0-2

UM

ED

5B

-20-2

UM

ED

EC

-20-3

UM

EC

RW

-20-3

UM

ED

FC

-20-3

UM

ED

9C

-20-3

1 abstraction;

2 analysis, deduction and induction;

3 quantification and design;

4 framing.

22

Appendix 6 Assessment Map Compulsory Modules Optional Modules

BA (Hons) Economics (Money Banking and Finance):


ASSESSMENT METHOD EMPLOYED Component A or B weighting in brackets [ ]

UM

ED

3A

--2

0-1

UM

ED

4A

-20-1

UM

ED

5A

-20-1

UM

ED

6A

-20-1

UM

AC

XA

-20-1

UM

ED

9E

-15-1

U

ME

DA

Y-5

-1

UM

ED

7B

-20-2

UM

ED

8B

-20-2

UM

ED

BB

-20-2

UM

ED

4B

-20-2

UM

ED

9B

-20-2

UM

ED

DC

-40-3

UM

ED

7C

-20-3

UM

ED

4C

-20-3

UM

ED

6B

-20-2

UM

ED

CB

-20-2

UM

ED

33

-20-2

UM

ED

5B

-20-2

UM

ED

EC

-20-3

UM

EC

RW

-20-3

UM

ED

FC

-20-3

UM

ED

9C

-20-3

1 UNSEEN WRITTEN EXAM A

[50] A

[50] A

[50] A

[50] A

[50]

A [50]

A [50]

A [50]

A [50]

A [50]

A

[50] A

[50] A

[50] A

[50] A

[50] A

[50] A

[50] A

[50] A

[50] A

[50]

2 UNSEEN MUTIPLE CHOICE TEST/ EXAM

B [25]

B [25]

B [25]

B [25]

B

[25]

B [25]

B

[25]

B [50]

3 SEEN CASE STUDY WRITTEN EXAM

4 OPEN BOOK WRITTEN EXAM/CASE STUDY

B

[50]

B [25]

B

[25]

5 INDIVIDUAL WRITTEN COURSEWORK ASSIGNMENT

B [25]

B [25]

B

[25]

A

[100]

B [30]

B

[25]

B [50]

B * [50]

B [25]

B * [50]

B [30]

B [50]

B [50]

6 INDIVIDUAL PRESENTATION

B

[20]

7 SHORT ANSWER QUESTIONS (E.G. IN-CLASS TEST)

B

[25]

B [25]

B

[25]

8 RESEARCH BASED WRITTEN ASSIGNMENT

B

[50]

B [75]

B

[25]

B [20]

9 WRITTEN REPORT/JOURNAL OR LITERATURE REVIEW

B

[50]

B [25]

B

[25]

10 PEER REVIEW

11 GROUP CASE STUDY PRESENTATION

B

[25]

A [50]

23

* (B *) denotes that there are two piece of individual written coursework assignments

section 1: basic data

Documents