module specification - university of leicesterplacement 0 year abroad total module hours 200 student...

Module Specification

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

001 Coursework 1 10002 Coursework 2 10003 Exam (Final) 80 2

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

Academic Year: 2017/8Module Level: Year 1Scheme: UGDepartment: EconomicsCredits: 20

Intended Learning OutcomesBy the end of this module, students should be able to:

1. Describe the basic theory of the behaviour of economic and social agents.2. Define the fundamental concepts – such as objectives, constraints, demand, cost, rationality, equilibrium – comprising themicroeconomist’s toolkit.3. Describe simple policy tools (e.g., taxes and subsidies), the contexts in which they might be deployed, and their likelyconsequences.4. Demonstrate important insights about strategic behaviour that can improve students' skills when engaged in strategicsituations. 5. Describe some basic mistakes and fallacies in decision making. 6. Explain the interface between rationality and emotions in decision making.7. Undertake unsupervised independent work to a fixed deadline.8. Work collaboratively in groups during tutorials.

Teaching and Learning MethodsLearning is based on lectures (20 hours), tutorials (9 hours), and individual work.

Assessment MethodsTwo pieces of coursework (10% each) and a final exam (80%).

Pre-Requisites

Co-Requisites

Excluded Combinations-

Guided Independent Study: Indicative Activities

Lectures 20Seminars

Practical Classes & WorkshopsTutorials 9

FieldworkProject Supervision

Guided Independent Study 171Demonstration

Supervised time in studio/workshopWork Based Learning

Placement 0Year Abroad

Total Module Hours 200

Student Workload (hours)

EC1000 Microeconomics

Last Published: 20 November 2020



001 Coursework 20002 Exam (Final) 80 2

Period: Semester 2Occurence: ACoordinator: Martin JensenMark Scheme: UG Pass for Credit


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

Teaching and Learning MethodsLectures (20 hours), problem-solving tutorials (9 hours), directed reading.

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

Pre-Requisites

Co-Requisites


Lectures 20Seminars








EC1001 Macroeconomics





Period: Semester 1Occurence: ACoordinator: Asako OhinataMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module typical students will be able to apply mathematical techniques, such as those listed below, tosolving analytical and numerical economic problems: algebraic symbols and manipulating algebraic equations; linearequations; powers, series and inverse functions; solving quadratic and simultaneous equations; basic differentiation;identifying maxima and minima; partial differentiation; an introduction to log and exponential fnctions.

Teaching and Learning MethodsLectures (20 hours), tutorials and problem solving classes (18 hours over 9 classes).

Assessment MethodsCoursework (involving solving analytical questions, 20%) and a final exam (80%).

Pre-Requisites

Co-Requisites



Lectures 20Seminars





PlacementYear Abroad



EC1005 Maths for Economics I





Period: Semester 1Occurence: ACoordinator: Carlos Diaz VelaMark Scheme: UG Pass for Credit


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

Teaching and Learning MethodsLectures (20 hours), tutorials (problem solving classes, 9 hours).

Assessment MethodsBy two hour written examination (80%) and coursework (45 minute mid-term test, 20%)

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC1007 Statistics for Economists I




001 Exam (Final) 100 2

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


Intended Learning OutcomesOn completion of this module typical students will:- Be able to define mathematical terminology and concepts commonly used in a modern Economics degree.- Be able to define first-order differential equations.- Be able to demonstrate how economic functions are expressed in mathematical terms.- Be able to solve simple Economics problems involving algebra and calculus such as; solving simultaneous equations usingmatrix algebra tools, finding constrained and unconstrained optima, interpreting first and second order conditions, applyingsimple integration techniques, applying simple financial mathematics techniques.

Teaching and Learning MethodsLectures (20 hours), problem-solving tutorials (18 hours).

Assessment MethodsTwo hour exam (100%).

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC1008 Maths for Economics II





Period: Semester 2Occurence: ACoordinator: Barbara RobertsMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Demonstrate knowledge of the techniques of statistical estimation, hypothesis testing (for means, proportions, variances,differences between two means), analysis of variance and nonparametric testing.- Apply these techniques to the analysis of data- Use IT for the manipulation, presentation, and analysis of data- Write-up the results of a data-analysis report

Teaching and Learning MethodsLectures (20 hours), computer classes (10 hours over 5 classes), seminars (5 hours).

Assessment MethodsBy two hour written examination (80%) and coursework (1500 words data analysis report, 20%)

Pre-RequisitesEC1007

Co-Requisites



Lectures 20Seminars 5

Practical Classes & Workshops 10Tutorials







EC1009 Statistics for Economists II




001 Exam (Final) 100 1.5

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


Lectures 24Seminars








EC1011 Probability and Probability Distributions




001 Coursework 20002 Exam (Final) 80 1.5

Period: Semester 2Occurence: ACoordinator: Martin Foureux KoppensteinerMark Scheme: UG Pass for Credit


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

Teaching and Learning MethodsLectures (20 hours), problem-solving classes (15 hours).

Assessment MethodsCoursework (20%), problem-based exam (80%).

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC1012 Statistical Inference





Period: Semester 1Occurence: ACoordinator: Piotr DenderskiMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module, a typical student should be able to:

-Graph, algebraically manipulate, differentiate and integrate (when possible) combinations of elementary functions (constants,linear, polynomial, rational, exponential, logarithmic and trigonometric).-Understand concepts of continuity and differentiability of a function-Explain the relationship between derivatives, rates of change, marginal concepts and elasticities.-Explain the relationship between integrals, areas and economic surpluses.-Formulate simple economic models as systems of equations to solve them and carry out comparative statics exercises.-Formulate and solve static optimisation problems involving one decision variable.-Formulate and solve two-variable static unconstrained optimisation problems using first order conditions.-Formulate and solve two-variable static constrained optimisation problems with equality constraints, using first orderconditions and the Lagrange multiplier method.-Use constrained optimisation to solve the Utility Maximisation Problem of a consumer.-Explain the implications of the Envelope Theorem for optimisation problems.-Provide an economic interpretation of the Lagrange multipliers in a utility maximisation problem and in a cost minimisationproblem.

Teaching and Learning MethodsLectures (20 hours), tutorials (problem solving classes, 9 hours), directed reading, example sheets.

Assessment MethodsProblem-based coursework (20%) and a problem-based final examination (2 hours, 80%).

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC1013 Calculus and Optimisation





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


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

Teaching and Learning MethodsLectures (20 hours), directed reading, problem solving classes (9 hours).

Assessment MethodsBy a two hour final examination (80%) and coursework (midterm test, 20%)


Co-Requisites



Lectures 20Seminars








EC1014 Linear Algebra





Period: Semester 1Occurence: ACoordinator: Sergio CurrariniMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe and formulate the theory of consumer’s choice under certainty and uncertainty- Solve simple consumer problems both graphically and analytically- Analyse intertemporal consumption choice- Analyse labour supply- Describe the elements of microeconomics of production- Solve simple problems of cost minimization- Describe the connections between technology and costs in both the short and long run- Evaluate welfare implications of economic changes and describe measures of welfare under quasi-linear preferences

Teaching and Learning MethodsLectures (20 hours), tutorials (9 hours)

Assessment MethodsTwo hour final examination (80%) and coursework (20%).


Co-Requisites



Lectures 20Seminars








EC2000 Intermediate Microeconomics I





Period: Semester 2Occurence: ACoordinator: David Rojo-ArjonaMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:

- Find the equilibrium of a competitive market and perform comparative statics exercises.- Discuss the use of social surplus as a measure of market efficiency.- Analyse the effects of policy interventions on a market’s social surplus.- Analyse the pricing and output decisions of a monopolist and its inefficiency.- Explain and discuss the causes and consequences of price discrimination.- Use game theory to analyse one-shot Cournot, Bertrand and Stackelberg duopoly models.- Explain the scope for collusion in oligopoly models in one-shot and repeated games.- Demonstrate the first fundamental theorem of welfare economics and discuss the significance of its assumptions andconsequences.- Explain the implications of the second fundamental theorem of welfare economics.- Discuss the notion of Social Welfare Function and its applications to social choice.- Explain the problem of public-goods supply and its efficiency consequences. - Explain the concept of missing markets and analyse externalities.- Explain the impact of asymmetric information in market outcomes and its efficiency consequences.

Teaching and Learning MethodsLectures (20 hours), tutorials (9 hours).

Assessment MethodsTwo hour final examination (80%) and coursework (one-hour mid-term online multiple-choice test, 20%).


Co-Requisites



Lectures 20Seminars








EC2002 Intermediate Microeconomics II




001 Coursework 1 6002 Exam (Final) 70 1.5003 Coursework 2 6004 Coursework 3 6005 Coursework 4 6006 Coursework 5 6

Period: Semester 1Occurence: ACoordinator: Arkadiusz SzydlowskiMark Scheme: UG Pass for Credit


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

Teaching and Learning MethodsLectures (20 hours), seminars (8 hours), computer classes (4 hours)

Assessment MethodsOne and a half hour final examination (70%) and coursework (bi-weekly problem sets, 30%).

Pre-Requisites

Co-Requisites











EC2010 Introductory Econometrics




001 Project (Final) 100

Period: Semester 2Occurence: ACoordinator: Cheng ChouMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:-Demonstrate knowledge of the techniques of regression analysis with time series data, simple panel data, instrumentalvariables and limited dependent variables.-Apply appropriate estimation techniques to data using STATA.-Interpret computer output including diagnostic tests.-Write-up the results of a regression analysis project.

Teaching and Learning MethodsLectures (20 hours), seminars (3 hours), computer classes (10 hours).

Assessment MethodsA data analysis project (100%).

Pre-Requisites

Co-Requisites











EC2011 Topics in Applied Econometrics





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


Intended Learning OutcomesUpon completion a typical students will be able to:- Demonstrate and explain the use of dummy variables as a tool for qualitative estimation.- Explain the data requirements for panel estimation.- Choose between different models of panel estimation (e.g. fixed effects versus random effects).- Describe and interpret popular regression methods for limited dependant variables. - Demonstrate identification in the context of estimating simultaneously determined equations.- Apply the above econometric techniques to data using Stata software- Interpret Stata output including diagnostics, within and between variance, and coefficient estimates

Teaching and Learning MethodsLectures (20 hours), computer classes (3 hours), and tutorials (5 hours).

Assessment MethodsOne and a half hour final examination (50%) and coursework (an 1800 word empirical report, 50%).


Co-Requisites



Lectures 20Seminars

Practical Classes & Workshops 3Tutorials 5







EC2019 Econometrics II





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


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

Teaching and Learning MethodsLectures (26 hours), tutorials (12 hours), computer classes (2 hours).

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

Pre-RequisitesEC1011, EC1012

Co-Requisites



Lectures 26Seminars

Practical Classes & Workshops 2Tutorials 12







EC2020 Econometrics I





Period: Semester 2Occurence: ACoordinator: Andre StenzelMark Scheme: UG Pass for Credit



(i) Critically discuss the goals and role of financial management within a firm, including the role of ethical behaviour(ii) Discuss how a firm fits into and interacts with financial markets, and define and discuss different types of financial assets,liabilities, and markets(iii) Demonstrate project appraisal, which incorporates the essentials of financial mathematics in valuing payment streamsusing different criteria while being able to discuss the advantages and disadvantages of various methods(iv) Demonstrate capital budgeting, which is the choice between different viable projects under various constraints, as well ashow uncertainty can be factored into the decision(v) Explain and critically discuss market efficiency and what it implies for financial markets


Assessment MethodsTwo hour final examination (80%), coursework (mid-term test, 20%)

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC2022 Principles of Finance





Period: Semester 1Occurence: ACoordinator: Richard SuenMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to - Describe the determinants of macroeconomic variables (such as aggregate output, employment, inflation).- Describe the main characteristics of business cycles.- Apply simple macroeconomic models to analyse and discuss the effects of government spending and taxes.- Explain how central banks conduct monetary policy.- Apply simple macroeconomic models to analyse and discuss the effects of monetary policies.

Teaching and Learning MethodsLectures (20 hours), seminars (9 hours).

Assessment MethodsTwo hour final examination (80%), coursework (mid-term test, 20%).

Pre-Requisites

Co-Requisites




Practical Classes & WorkshopsTutorials







EC2024 Intermediate Macroeconomics I




001 Exam (Final) 100 1.5

Period: Semester 2Occurence: ACoordinator: Panicos DemetriadesMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module students should be able to define, explain or analyse:- The role of credit constraints, impatience and uncertainty in consumption and investment- The implications of nominal rigidities and incomplete employment contracts for unemployment- The reasons why central banks (and not governments) are responsible for controlling inflation and why inflation needs to becontrolled- Effects of demand and supply shocks on unemployment and inflation- The deflation trap and the zero lower bound- The Rational Expectations Hypothesis and its limitations- The Lucas critique and the problem of time inconsistency- The role of central bank independence and credibility, including central bank communication, in controlling inflation- How banks influence money supply and credit- The determination of lending rates and the transmission mechanism of monetary policy- The determinants of bank credit in the presence of imperfect information and default- Bank solvency, bank bailouts and ‘too big to fail’- What are financial crises and what are their costs- The financial cycle (Credit and asset booms and busts) and its relation to the business cycle- How a long period of stability can sow the seeds of a severe financial crisis- The meaning of systemic risk and macro prudential regulation and their relation to Basel III- The role of financial development in the process of economic growth


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

Pre-Requisites

Co-Requisites











EC2032 Intermediate Macroeconomics II





Period: Semester 1Occurence: ACoordinator: Carlos Diaz VelaMark Scheme: UG Pass for Credit


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

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

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

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC2033 Principles of Banking





Period: Semester 2Occurence: ACoordinator: Martin HoskinsMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Describe the major economic and financial developments from post-first-world-war era to the present day in the US, UK, andmajor European economies.- Critically evaluate the contemporary policy responses and institutional framework, and provide sound economic analysis tosupport any conclusions reached.- Discuss the contributions made to the contemporary policy debate by economists and describe the attendant developmentsin the history of economic thought.- Analyse contemporary data with reference to the relevant historical context.- Critically evaluate economic theories in the light of the historical evidence.

Teaching and Learning MethodsLectures (30 hours) and tutorials (10 hours).

Assessment MethodsOne and a half hour examination (50%), coursework (an extended essay of no more than 5000 words, 50%).

Pre-Requisites

Co-Requisites



Lectures 30Seminars








EC2034 Economic History





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


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


Assessment MethodsTwo hour final examination (80%) and coursework (a one-hour mid-term online multi-choice test, 20%).

Pre-Requisites

Co-Requisites











EC2043 Game Theory





Period: Semester 1Occurence: ACoordinator: Lynne HoweyMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, typical students should be able to:

- Explain the information requirements of the preparers and users of financial statements- Record transactions using double entry accounting, including accounting for non-current assets, inventory, accruals,prepayments, impaired and irrecoverable debts- Reconcile control accounts and a prepare bank reconciliation- Prepare financial statements for sole traders from incomplete records- Prepare financial statements for partnerships and companies, describe the differences in legal requirement and understandthe contents of company annual reports- Critically evaluate the performance of a company using ratio analysis

Teaching and Learning MethodsLectures (20 hours), seminars (5 hours), and independent research

Assessment MethodsTwo and one quarter hour examination (15 minutes reading time, two-hours writing time - 80%), Coursework (20%)

Pre-Requisites

Co-Requisites











EC2076 Principles of Accounting







Intended Learning OutcomesAt the end of this module, typical students should be able to:

- Explain the objectives, types of tax and ethics affecting individuals- Prepare tax computations and returns for individuals who are employed and/or receive investment income- Identify and describe alternative strategies available to individuals- Critically evaluate the legal and the ethical implications of a range of taxation strategies

Teaching and Learning MethodsLectures (20 hours), seminars (5 hours), and independent research

Assessment MethodsTwo and one quarter hour examination (15 minutes reading time and two hours writing time - 80%), Coursework (20%)

Pre-Requisites

Co-Requisites











EC2083 Principles of Personal Taxation





Period: Semester 1Occurence: ACoordinator: Matthew PolissonMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, students are expected to be able to discuss:

- Consumer Theory (including Preferences, Utility and Demand, Demand and Duality)- Producer Theory - General Equilibrium Theory (including Exchange Economies, Welfare Theorems, Production Economies)


Assessment MethodsProblem-based coursework (30%), and a two-hour final exam (70%).

Pre-Requisites

Co-Requisites






Guided Independent Study 86.5Demonstration



Total Module Hours112.5


EC3000 Advanced Microeconomics





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


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

Teaching and Learning MethodsLectures (20 hours), seminars (5 hours), independent research.

Assessment MethodsA two-hour written examination (80%), coursework (a group essay limited to 1,800 words, 20%).

Pre-Requisites

Co-Requisites











EC3001 Advanced Macroeconomics




001 Dissertation (Final) 50002 Power Point Presentation 20003 Oral Presentation 30

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


Intended Learning OutcomesBy the end of this module, a typical student should be able to:- Study thoroughly, and critically analyse, a set of articles from academic journals.- Summarise in a concise and intelligible manner the principal ideas and concepts proposed in the articles.- Give a professional oral presentation of the chosen articles using PowerPoint or equivalent tools.

Teaching and Learning MethodsLectures (8 hours), independent research.

Assessment MethodsA 3,000 word dissertation (50%), a PowerPoint presentation (20%), a 15 minute oral presentation (30%).

Pre-Requisites

Co-Requisites



Lectures 8Seminars



Guided Independent Study104.5Demonstration





EC3004 Dissertation




001 Exam (Final) 100 1.5

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


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

Teaching and Learning MethodsLectures (20 hours), workshops (8 hours).

Assessment MethodsA one and a half hour examination (100%).

Pre-Requisites

Co-Requisites



Lectures 20Seminars








EC3023 Industrial Economics





Period: Semester 2Occurence: ACoordinator: Tania OliveiraMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module a typical student should be able to:

- Explain the basic theory of individual investment in education and training, its implications and extensions and how it canprovide a basis for empirical investigation. - Discuss the evidence on the returns to human capital, explaining how these estimates can be biased and how authors haveattempted to control for sources of bias, like ability. - Identify the components of the education production function, define peer group effects and discuss, both theoretically andempirically, their relevance for the production of education. - Explain the relation between school resources and student performance, using the evidence in the literature, with specialreference to the debate about class size. - Identify the main ways in which public and private educational institutions interact in both compulsory and higher educationand how these interactions affect school quality, political support for education and the distribution of educational benefits. - Discuss the different aspects to be considered in the design of higher education finance policies and their relevance forequity and efficiency goals. - Explain the main equity and efficiency arguments in favour or against the school vouchers policy proposal. - Explain the crucial link between education and inequality and discuss the possible role of education as a redistribution tool.

Teaching and Learning MethodsLectures (20 hours), seminars (5 hours), directed reading.

Assessment MethodsOne and a half hour essay examination (80%), coursework (essay assignment, 20%).

Pre-Requisites

Co-Requisites











EC3044 Economics of Education




001 Exam (Final) 80 2002 Coursework 20

Period: Semester 1Occurence: ACoordinator: Linda RalphsMark Scheme: UG Pass for Credit


Intended Learning OutcomesAt the end of this module, typical students should be able to:- Explain the objectives and role of management accounting in the current business world- Prepare budgets and analyse variances between budget and actual data- Identify and describe alternative approaches to costing - marginal, total absorption and relevant costing- Critically evaluate current trends in management accounting

Teaching and Learning MethodsLectures, seminars and independent research

Assessment Methods

Pre-Requisites

Co-Requisites











EC3052 Management Accounting




001 Coursework 1 6.67002 Coursework 2 6.67003 Coursework 3 6.67004 Exam (Final) 80 1.75

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


Intended Learning OutcomesAt the end of this module, typical students will be able to:- Generate a mathematical model out of a verbally expressed management decision problem,- Produce a graphical representation of a mathematical model,- Make policy recommendations on the basis of a mathematical model,- Evaluate the robustness of those policy recommendations,- Apply standard management science modelling techniques to various business problems,- Explain the limitations of each modelling technique that was covered in the lectures.


Assessment Methods1 hour 45 minutes problem-based examination (15 minutes reading time and 1 hour 30 minutes writing time - 80%),coursework (3 parts equally weighted 6.67% each).

Pre-Requisites

Co-Requisites











EC3057 Management Science





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


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


Assessment MethodsA one and half hour written final examination (90%), coursework (on-line test, 10%)

Pre-Requisites

Co-Requisites











EC3058 Corporate Finance





Period: Semester 1Occurence: ACoordinator: Martin Foureux KoppensteinerMark Scheme: UG Pass for Credit



- Describe the link between development and economic growth - Discuss recent developments concerning the objectives of eradicating income inequality and poverty, with reference to boththeory and empirics.- Describe the link between growth theory and convergence.- Use theory and evidence to identify phenomena such as demographic change, income inequality, poverty and malnutrition,rural and urban interaction and discuss the corresponding implications for policy making.- Identify and explain the main components of the theory of human capital. - Demonstrate awareness on the methods for estimating the empirical relevance of the theory of human capital. - Discuss the role of health for human capital and development.- Identify the relationship between savings and insurance and their role for development.

Teaching and Learning MethodsLectures (20 hours), seminars (4 hours), tutorials (8 hours), directed readings, independent research.

Assessment MethodsBy two hour written examination (80%) and a coursework (quantitative exercises and a small essay-based component, 20%).

Pre-Requisites

Co-Requisites











EC3061 Development Economics




001 Coursework (Final) 100

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


Intended Learning OutcomesBy the end of the module a typical student will be able to:- Analyse a simple single-equation dynamic econometric model.- Use an econometric package and be able to analyse non-stationary economic time series.- Interpret and evaluate critically numerical results of econometric estimation.

Teaching and Learning MethodsLectures (18 hours), computer practical classes (9 hours).

Assessment MethodsCoursework in the form of a write-up of a computer-based project (100%).


Co-Requisites











EC3062 Econometrics III




001 Oral Presentation 10002 Project (Final) 90

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


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

Teaching and Learning MethodsLectures (12 hours), individual work on an empirical project.

Assessment MethodsAn assessed project (90%) and oral presentation (10%).


Co-Requisites



Lectures 12Seminars



Guided Independent Study100.5Demonstration





EC3064 Applied Econometrics Project





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


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


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

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EC3066 International Trade





Period: Semester 1Occurence: ACoordinator:Mark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module, typical students should be able to:- Demonstrate awareness on the issues facing open economies.- Identify the elements of the Balance of Payments and discuss the effects of exchange rate movements on the currentaccount.- Assess the strengths and weaknesses of different models of exchange rate determination. - Use different models to explain the impact of economic policies in open economies.


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

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EC3067 International Finance




001 Exam (Final) 100 1.5

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


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

Teaching and Learning MethodsLectures (20 hours), seminars (8 hours), directed reading

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

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EC3070 Financial Derivatives




001 Exam (Final) 100 1.5

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


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


Assessment MethodsA one and a half hour examination (100%).

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EC3071 Managerial Economics





Period: Semester 2Occurence: ACoordinator: Suresh MutuswamiMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of the module students will be able to:

- Explain the proofs of the Arrow Impossibility Theorem, the Gibbard-Satterthwaite Theorem, the von Neumann-MorgensternExpected Utility Theorem, Nash Bargaining Theorem, Gale-Shapley Stable Matching Theorem and the Shapley Value;- Demonstrate the role played by the assumptions of each theorem; - Demonstrate the application of the techniques used in the mathematical proofs to other economic problems; - Critically evaluate those journal articles on economic theory that use the mathematical techniques taught in this module.


Assessment MethodsCoursework (mid-term test - 30%), and a two-hour examination (70%).

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EC3075 Social Choice




001 Coursework 1 10002 Coursework 2 10003 Exam (Final) 80 2



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


Assessment MethodsTwo hour examination (80%), coursework (20% - 2 parts equally weighted at 10% each).

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EC3076 Accounting




001 Coursework 1 10002 Coursework 2 10003 Exam (Final) 80 1.5



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

Teaching and Learning MethodsLectures (20 hours), seminars (5 hours), independant research.

Assessment MethodsOne and a half hour examination (80%), coursework (20% - 2 parts equally weighted at 10% each).

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EC3077 Investment Management




001 Coursework 1 15002 Coursework 2 15003 Exam (Final) 70 1.5

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


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


Assessment MethodsBy written examination (70%) and by coursework (two pieces worth 15% each).

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EC3080 Public Economics




001 Exam (Final) 100 1.5

Period: Semester 2Occurence: ACoordinator: Ali al-NowaihiMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of the module, students should have mastered the essential quantitative techniques needed for financial analysis,and demonstrate awareness of their strengths and limitations. This includes a good working knowledge of advanced calculus,including stochastic calculus, modes of convergence, laws of large numbers, the central limit theorem, stochastic processes,including the Wiener process and jump processes. Students should have the ability to give a semi-rigorous derivation of theBlack-Scholes-Merton model for pricing financial derivatives and demonstrate knowledge of the underlying assumptions andlimitations. Students should be able to demonstrate the ability to numerically solve the Black-Scholes-Merton partialdifferential equation using appropriate techniques.

Teaching and Learning MethodsLectures (20 hours) and tutorials (10 hours).

Assessment MethodsProblem solving examination (100%).

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Lectures 20Seminars








EC3081 Mathematical Finance





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


Intended Learning OutcomesThis module will provide students with an opportunity to develop their understanding of how to apply theories of economics inpractice, focusing on issues regarding the provision of and demand for health.

Upon completion of this module, a typical student will be able to:- Describe methods for measuring “health” and the implications for economic policies.- Demonstrate the use of canonical models of health supply and demand.- Define moral hazard and adverse selection and describe their implications for the provision of health insurance.- Use economic theory to analyse health policy prescriptions in popular literature. - Read and critique academic literature on the economics of health. - Outline common issues in the measurement of the relationship between health status and labour market or socio-economicstatus outcomes.

Topics covered in this module include: An Introduction to Health Economics, Health Care Markets, Health Insurance,Economic Evaluation of Health Care: Measuring the Effectiveness of Health Care, Health Behaviours.

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

Assessment MethodsCoursework (20%) and a two-hour written examination (80%). The 20% coursework is made up of two parts. The first partinvolves reading and discussing the contents of a published paper (worth half of the total coursework mark). The second partis an essay limited to no more than 2000 words.

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Lectures 20Seminars








EC3082 Economics of Health







Guided Independent Study: Indicative ActivitiesStudents are required to read the relevant chapters in the core text at the end of each lecture.To prepare for the seminars byattempting to sovle the problem set before attending class. To Revise and prepare for the midterm class test.









EC3084 Audit and Assurance





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


Intended Learning OutcomesAt the end of this module, typical students should be able to:- Explain the objectives, types of tax and ethics affecting self-employed individuals, partnerships and companies- Prepare tax returns for companies- Identify and describe alternative strategies available to self-employed individuals, partnerships and companies- Critically evaluate the legal and the ethical implications of a range of taxation strategies


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EC3085 Principles of Business Taxation




001 Coursework 20002 Examination (Final) 80 2



Intended Learning OutcomesAt the end of this module, typical students should be able to:- Recognise when a legally binding contract exists and how that contract might be enforced- Identify the rights and duties of agents- Describe the legal differences between different types of organisation (e.g. companies and partnerships)- Describe the main implications of insolvency law- Recognise the relationships and interaction between legal principles, legislation, case law and ethics- Describe the rights and duties of employers and employees


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EC3086 Business Law




001 Coursework 20002 Examination (Final) 80 2



Intended Learning OutcomesAt the end of this module, typical students should be able to:- Describe the objectives of financial statements- Critically evaluate current and proposed accounting standards- Prepare financial statements for companies that are fit for publication- Critically evaluate the content of company annual reports- Prepare consolidated accounts


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EC3087 Financial Reporting




001 Contribution to Discussions 10002 Individual Coursework 30003 Group Seminar Presentation 20004 Group Essay (Final) 40

Period: Semester 1Occurence: ACoordinator: David Rojo-ArjonaMark Scheme: UG Pass for Credit


Intended Learning OutcomesOn completion of this module typical students will be able to:- Describe the aim and scope of experimental methods in defining economic as a science.- Identify, discuss and assess the main topics of experimental research conducted in different areas of economics: markets,labour, development, game theory, choice under risk and uncertainty.- Discuss, assess and apply experimental methods to address important economic questions.- Solve statistical questions related with an optimal design.- Demonstrate their oral and written communication skills through presentations, essays and group work.- Apply techniques of assertive communication and constructive feedback to consolidate their team-working skills.

Teaching and Learning MethodsLectures (20 hours), seminars include participating in experiments and discussing the methods (5 hours) and independentresearch.

Assessment MethodsFirst, students will be required to contribute to the seminar discussion (10%). Second, three independent pieces ofcoursework addressing three questions handed to students a week before submission will be evaluated (30%). Third,students need to produce a group essay with a research project of their choice (40%). Fourth, before submission of the essay,groups will have a 20-minutes presentation (20%) of their project and 48 hours to address comments from other students inthe essay.

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EC3088 Experimental Economics





Period: Semester 2Occurence: ACoordinator: Sanjit DhamiMark Scheme: UG Pass for Credit


Intended Learning OutcomesBy the end of this module, a student should be able to:

-Assess and discuss the empirical evidence from generic situations of risk and uncertainty. Examine and analyse alternativebehavioural decision theories of risk and uncertainty such as prospect theory and rank dependent utility. To be followed by adiscussion of select applications of behavioural decision theories.- Assess and discuss the empirical evidence for social preferences arising from experimental games such as the ultimatumgame, trust game and the public goods game. To be followed by a discussion and critique of theoretical models of socialpreferences such as the Fehr-Schmidt model and select applications.- Discuss and analyse the evidence on alternative models of time preference. To be followed by a discussion of alternativemodels of behavioural time discounting such as the hyperbolic discounting model and select applications.- Assess and discuss the evidence from human behaviour in strategic situations. To be followed by a discussion of selectbehavioural game theory models such as level-k models and their applications.- Discuss selected evidence and models of bounded rationality and mental accounting.

Teaching and Learning MethodsLectures (20 hours) and seminars (10 hours).

Assessment MethodsFinal exam (100%).

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EC3089 Behavioural Economics


module specification - university of leicesterplacement 0 year abroad total module hours 200 student...

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