Undergraduate courses in Economics

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1 The University for business and the professions & Accountancy BSc Financial Economics Undergraduate courses in Economics

2 Detailed course and module descriptions Economics is an extremely popular field of study and covers the broad areas of production, distribution, and the consumption of goods and services. In this degree course, we further break down the subject into specific economic concepts and theories and provide you with an opportunity to study more specialised subject areas as you advance into your final year. Whilst studying this course you will develop a range of skills and knowledge within economics and be taught by leading experts in the field. UCAS CODE: L100 ENTRY REQUIREMENT: AAB FEES UK/EU FEES: 3,290 INTERNATIONAL FEES: 9,650 From the three undergraduate economics courses we offer at City, this degree will provide the greatest flexibility in terms of future choices regarding career and postgraduate study. Its structure and content have been designed and updated to strengthen your understanding of key concepts and tools to highlight the practical link between theory and real-world applications. In addition, it provides you with opportunities to broaden your horizons by taking advantage of our European exchange and placement year schemes and through the activities of our student-led Economics Society. UCAS Code: L100 Entry Requirement: AAB Page: 1 Course descriptions Page: 1 Module descriptions Page: 4 Study format Page: 6 Reading list Page: 7 Career paths Page: 8 Academic profiles Page: 10 Application procedures Page: 12 Why choose City University London Page: 14 & Accountancy UCAS Code: LN14 Entry Requirement: AAB Page: 2 BSc Financial Economics UCAS Code: L111 Entry Requirement: AAB Page: 3 YEAR 1 All core or alternate-core modules Data analysis 1 and 2 Introduction to microeconomics Introduction to macroeconomics Mathematics Post GCSE or Post A-Level Topics in applied microeconomics Topics in applied macroeconomics YEAR 2 Intermediate microeconomics 1 and 2 Intermediate macroeconomics 1 and 2 Introductory econometrics Global financial markets Health economics Intermediate mathematical methods International trade Money and banking Public economics YEAR 3 Applied econometrics Research project (counts as two modules) Corporate finance Development economics The economics of addiction Financial economics History of economic thought Industrial organisation International finance Introduction to financial derivatives Labour economics Monetary economics Regulation and competition Economics of European integration City University London Undergraduate Courses in Economics page 1

3 Detailed course and module descriptions (cont.) and Accountancy UCAS CODE: LN14 ENTRY REQUIREMENT: AAB FEES UK/EU FEES: 3,290 INTERNATIONAL FEES: 9,900 BSc Financial Economics UCAS CODE: L111 ENTRY REQUIREMENT: AAB FEES UK/EU FEES: 3,290 INTERNATIONAL FEES: 9,650 This very popular degree course allows you to prepare for a career in accountancy while providing you with strong methodological and conceptual foundations through extensive study of economics. Modules in accountancy are taught by Cass Business School and the economics modules are led by staff within our department of Economics. The course covers areas such as financial accounting, financial management and management accounting producing graduates that are highly sought-after in the accountancy and banking industries. Like our other economics degrees, it provides you with opportunities to broaden your horizons through participation in the activities of the student-led Economics Society. Our Financial Economics degree has been developed to meet a need in the market for highly skilled professionals who combine the specific knowledge of financial products and markets with the analytical abilities of a trained economist. The aim of this degree is to develop your analytical abilities in the discipline of economics, with particular reference to finance. Successful completion of this degree will allow you to signal to prospective employers that you have developed sound knowledge and understanding of the microeconomic principles underlying various types of financial markets and instruments. These include the macroeconomic role of finance, the quantitative tools most commonly used for financial analysis and the practical roles and obligations of the major financial institutions. Like, the course provides you with opportunities to broaden your horizons by taking advantage of our European exchange and placement year schemes and through participation in the activities of our student-led Economics Society. YEAR 1 Data analysis 1 and 2 Introduction to microeconomics Introduction to macroeconomics Introduction to law Introduction to financial and management accounting Mathematics Post GCSE or Post A-Level YEAR 2 Financial accounting Financial analysis Intermediate microeconomics 1 and 2 Intermediate macroeconomics 1 and 2 Introductory econometrics Global financial markets Health economics Intermediate mathematical methods International trade Money and banking Holders of this degree are entitled to a number of exemptions on professional licensing exams by several prestigious accountancy bodies. The Chartered Institute of Management Accountants The Association of Chartered Certified Accountants. The Chartered Institute of Public Finance and Accountancy. The Institute of Chartered Accountants in England and Wales. YEAR 3 Advanced financial accounting Applied econometrics Company laws Financial management Financial accounting theory Management accounting Corporate finance Development economics Economics of European integration Financial economics History of economic thought Industrial organisation Introduction to financial derivatives International finance Labour economics Monetary economics Regulation and competition The economics of addiction YEAR 1 Data analysis 1 and 2 Introduction to microeconomics Introduction to macroeconomics Mathematics post A-level 1 and 2 Topics in applied microeconomics Topics in applied macroeconomics YEAR 2 Global financial markets Intermediate microeconomics 1 and 2 Intermediate macroeconomics 1 and 2 Introductory econometrics Intermediate mathematical methods Money and banking YEAR 3 Applied econometrics Corporate finance Financial economics Introduction to financial derivatives Development economics The economics of addiction Economics of European integration History of economic thought Industrial organisation International finance Labour economics Monetary economics Regulation and competition Research project (counts as two modules) City University London Undergraduate Courses in Economics page 2 City University London Undergraduate Courses in Economics page 3

4 Module descriptions Please find below a small sample of module descriptions. For the complete list please visit TOP TIP Strike a balance between your social life, keep on top of your academic studies from the start and seek opportunities both work/campus related that will enable you to learn, expand your network and build on a skill set that will have you oven ready for any employer once graduated. Economics undergraduate student 2009/10 Core First Year Modules for all 3 degrees DATA ANALYSIS 1 & 2 An understanding of basic statistical reasoning is an essential requirement for an economist, as is the ability to manipulate data in general and specialised computer software. This module aims to introduce you to statistical data analysis, and to provide training in the use of two types of software: a spreadsheet (Excel) and more powerful statistical package (EViews). Data analysis 1 prepares you for more advanced work in Part 2. INTRODUCTION TO MICROECONOMICS This module aims to Provide a basic introduction to microeconomic principles, theories and methods of analysis. Provide a framework for the application of microeconomic theories, principles and methods of analysis to real-world economic problems. This module provides an essential toolkit of microeconomics concepts and approaches for tackling economic issues on the other economics modules in all three years of the programme. INTRODUCTION TO MACROECONOMICS This module aims to Provide a basic introduction to macroeconomic principles, theories and methods of analysis. Provide a framework for the application of macroeconomic theories, principles and methods of analysis to real-world economic problems. This module provides an essential toolkit of macroeconomics concepts and approaches for tackling economic issues on the other economics modules in all three years of the programme. MATHEMATICS POST GCSE OR POST A-LEVEL There are 2 options Students with Maths GCSE only take post GCSE mathematics and those students with A-level Maths take Mathematics for Economics Post A-Level. (BSc Financial Economics students must have A-Level maths and therefore will take the Post-A-Level module) Economics is a technical discipline which requires a mathematical foundation. These modules provide sufficient mathematical training consistent with the ability to deal with the mathematical description of the most important theoretical concepts contained in the rest of the economics course. Additional Core First Year Modules for and BSc Financial Economics TOPICS IN APPLIED MICROECONOMICS This module aims to demonstrate the application of microeconomic principles to topics in public and business policy. TOPICS IN APPLIED MACROECONOMICS The module demonstrates the application of macroeconomic principles to topics in public and business policy. Economics and Accountancy Core Modules INTRODUCTION TO LAW This module aims to give you an understanding of the English legal system, and the principles of the law of contract. INTRODUCTION TO FINANCIAL AND MANAGEMENT ACCOUNTING The aim of the module is to provide an understanding of the principles, mechanics and subjective issues involved in preparing internal and external financial statements. Financial Economics Second Year Core Modules MONEY AND BANKING The aim of this module is to develop a theoretical understanding of the nature and the functions of the financial system of any economy. You will also develop a perspective on the specific institutional context of the UK financial system, its characteristics and constraints. You will also study aspects of the internationalisation of the capital market, such as capital mobility, and foreign exchange markets. GLOBAL FINANCIAL MARKETS The aim of this module is to develop a coherent theoretical understanding of the nature and functions of the financial system in the economy. The course is centred around the US, UK, Japanese and German financial systems, comparing their characteristics and relative merits. The overall objective of the module is to familiarise you with the key issues that relate to financial markets and the range of financial instruments available on such markets. You will look at the use of debt and equity markets as a means of obtaining finance. The final part of the module looks at derivative instruments such as futures and options and explains how these instruments can be used by to manage financial risks. City University London Undergraduate Courses in Economics page 4 City University London Undergraduate Courses in Economics page 5

5 Study format TOP TIP Be calm and confident. You might get lost trying to find your classroom, or you might not understand the lectures you attend. No matter what the situation, face it with confidence and maintain a calm attitude as this ensures that you are able to handle any kind of pressure. Find out more now at Economics undergraduate student 2009/10 Sample reading list HOW WILL I LEARN? We teach the basic theoretical or technical points relevant to the module, through lectures and seminars which enable you to actively explore and develop your understanding of these points by means of discussion, problem-solving, computer exercises, and presentations. HOW WILL I BE ASSESSED? Assessment in most cases is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests, and problem sets. DURATION: Full-time three years or four years including a year abroad placement. Provisional University term dates for 2011/12 Please note dates may be subject to change and some courses have different term dates. INDUCTION FOR NEW STUDENTS SEPTEMBER 2011 TERM 1 26 SEPTEMBER-9 DECEMBER 2011 WINTER BREAK 12 DECEMBER JANUARY 2012 TERM 2 2 JANUARY-23 MARCH 2012 SPRING BREAK 26 MARCH-13 APRIL 2012 TERM 3 16 APRIL-15 JUNE 2012 (ASSESSMENT PERIOD) (16 APRIL-12 MAY 2012) JOHN SLOMAN AND ALISON WRIDE, ECONOMICS. 7TH EDITION. HARLOW: PEARSON. LOUISE SWIFT AND SALLY PIFF, QUANTITATIVE METHODS FOR BUSINESS, MANAGEMENT & FINANCE. 3RD EDITION. PALGRAVE. FOR BSC ECONOMICS AND ACCOUNTANCY STUDENTS ONLY: ALIX ADAMS, LAW FOR BUSINESS STUDENTS. 6TH EDITION. HARLOW: PEARSON. PETER ATRILL AND EDDIE MCLANEY,. FINANCIAL ACCOUNTING FOR DECISION MAKERS. You will be sent a full reading list before you join. Find out more now at Phone +44 (0) socsciug@ city.ac.uk City University London Undergraduate Courses in Economics page 6 City University London Undergraduate Courses in Economics page 7

6 Career paths Economics graduates are in great demand in professions such as banking, insurance, accountancy, fund management, management consultancy, development consultancy, telecommunications, the Civil Service, teaching, central banks such as the Bank of England and international bodies like the United Nations, the World Bank and the International Monetary Fund. I just completed the 1st year of the. I m doing an internship this summer at Bloomberg which is a big step forward to a career I dream of. It is a fantastic opportunity to learn about the company, the industry and to acquaintance myself with the world of finance. Employers include: PriceWaterhouseCoopers, Goldman Sachs, Citigroup, Morgan Stanley, BDO Stoy Howard, KPMG, Ford Motor Company, RBS Examples of job titles: Administrator, analyst, business analyst, trainee accountant, trainee consultant, corporate actions analyst, underwriting trainee, accounts manager, commercial client manager, management account manager Here s a sample of what some of our students are doing... Economics BSc student I have just graduated with a BSc in Economics from City. In September, I will start a Master of Philosophy in Economics at the University of Cambridge. The three years at City have been personally and intellectually rewarding and a degree in Economics is very versatile. Whether pursuing further studies or a professional career, a degree in Economics gives you a wealth of opportunities. Economics BSc student I have just completed the 4-year Economics and Accountancy BSc. Looking back at my four years at City I can say that I have truly enjoyed the experience and have found that my degree choice has help lay a strong foundation to kick start me in the finance world. I was one of the very few people who opted to take the opportunity to take a year out on industrial experience. Given the timing, the credit crunch was just beginning to bite businesses and hence the process was very difficult. I managed to secure an interview and later a position at Morgan Stanley as a Finance intern for 11 months. The decision to take this on and ride the steep learning curve was a literally a life-changing one. It helped me get to grips with many theories that I had come across at university in my first and second year and enabled me to apply them to real-world scenarios. My skill-set grew and I had some weight on my resume a year before I had graduated. This help secure me a similar position at Barclays Capital which I am due to start this September on the Finance graduate program. Economics and Accountancy BSc student City University London Undergraduate Courses in Economics page 8 City University London Undergraduate Courses in Economics page 9

7 Academic profiles See the full list of Economics academic staff at PROFESSOR MICHAEL BEN-GAD HEAD OF DEPARTMENT DR ANDY DENIS DIRECTOR OF UNDERGRADUATE STUDIES DR VINCENZO MERELLA SENIOR TUTOR DR RAVI MUKERJEE COURSE DIRECTOR BSC ECONOMICS AND ACCOUNTANCY DR JAVIER ORTEGA ASSOCIATE HEAD OF DEPARTMENT TEACHING AND LEARNING Professor Michael Ben-Gad, Head of Department TOP TIP You will be taught the relevant theory in the course of your programme of studies, but what you need to start doing now, and carrying on doing for the duration of your degree, is to see how economic ideas interact with the real world. Professor Ben-Gad obtained his BA in Economics at Hebrew University of Jerusalem and his Associate Masters and PhD from the University of Chicago. He has worked in the Research Department of the Bank of Israel, and taught at the University of Houston and the University of Haifa. He joined City as a Reader in His research focuses on Dynamic Macroeconomics with applications to taxation, public debt, the economic effects of immigration, as well as the emergence of multiple equilibria in models of economic growth. Professor Ben-Gad has recently appeared on the BBC and on the Guardian website discussing the global financial crisis. Dr Denis worked for the Economist Intelligence Unit in the 1980s and joined City University Business School in 1990 as a researcher in financial development, moving to the Economics Department in He gained his PhD in 2002 with a thesis on Collective and Individual Rationality. His research interests are in the history and philosophy of economics, and he has published on Adam Smith, Keynes, Hayek, Malthus, the methodology of the Austrian School of Economics and the concept of equilibrium in neoclassical economics. In 2009 he guest edited a special issue of the International Review of Economics Education on pluralism in the teaching of economics. Dr Denis has recently been elected a member of the ESHET (European Society of the History of Economic Thought) Council. Dr Merella obtained a BSc in Economics in 2000 and a PhD in Economics from University of Cagliari, Italy, and an MSc in Economics at University College London. He is currently completing his PhD in Economics at Birkbeck, University of London. Before joining City University as a Lecturer in Economics in September 2008, he worked as a lecturer at the University of Cagliari and has been a visiting scholar fellow at the University of Technology in Sydney, Australia. His current research interests include Financial Economics, International Trade and Economic Growth. Dr Mukerjee is the Director of the Economics and Accounting programme and University Teacher in Economics. He obtained his PhD in Economics from the State University of New York in Stony Brook, USA after writing and successfully defending a dissertation on Sequential Bargaining Games. His interests are in the Economics of Asymmetric Information and Modelling of Bounded Rationality as a characteristic of human socio-economic behaviour. He is also interested in the role played by money in the economy. At City University London he mainly teaches quantitative modules such as Data Analysis for Economists, Econometrics and Intermediate Mathematical Methods as well as Intermediate Microeconomics. Dr Ortega received his PhD from DELTA (Ecole des Hautes Etudes en Sciences Sociales, Paris) in He is a Senior Lecturer in Economics at City University London and a Research Economist at the Centre for Economic Performance (LSE). His main research areas are Labour Economics, the Economics of Language, and Political Economy. Dr Ortega recently presented a paper on the impact of immigration on the wages and employment of French natives at the World Meeting of the European and American Association for Labour Economics (EALE-SOLE) and in an international conference in Barcelona. He gave an interview to the Spanish newspaper La Voz de Galicia on the immigration proposals of the three main political parties in the recent British elections and a TV interview to the Voice of America on the current economic crisis, and he also taught half of a course in Introductory Macroeconomics in the LSE Summer School. Dr Andy Denis Director of Undergraduate Studies City University London Undergraduate Courses in Economics page 10 City University London Undergraduate Courses in Economics page 11

8 Find out more now at Phone +44 (0) city.ac.uk How to prepare for an Economics degree at City University London... Application procedures ENTRY REQUIREMENTS A-level grades: AAB 340 UCAS tariff points IB: 35 GCSE: grade B or equivalent in English language and maths or statistics (Please note Financial Economics students are required to have A-Level Maths) ENGLISH LANGUAGE REQUIREMENTS: Grade B in GCSE (or International GCSE) Cambridge ESOL CPE grade C or above IELTS 6.5 TOEFL (internet based): TOEFL (computer based): 250 TOEFL (paper based): 600 HOW TO APPLY Applications to our undergraduate courses open on the 1st September and close on the 15th January (30th June for international students). Late applications after this date will still be considered at our discretion. All applications to our undergraduate degree courses, including those from mature students, must be made through UCAS. You can apply through your school or college using the UCAS online service Apply which enables you to apply directly through the UCAS website ( Independent applicants such as mature and international students can also use ucasapply. The institution code for City University is C60, the course codes are provided in the individual course descriptions within this prospectus, as well as within the UCAS handbook and website. If you are still at school or college when you make an application, staff there should be able to assist with this process offering you help and advice. If you are outside the UK when you make an application your local British Council Office should be able to provide assistance. THE FOUNDATION PROGRAMME FOR INTERNATIONAL STUDENTS We offer a one-year foundation course leading to entry onto our Economics undergraduate degree courses. The course is taught by City and Islington College (CIC), a long-standing partner of City University London. Students on the foundation course will be registered at both CIC and City University London with access to all academic facilities at both institutions. The foundation course is taught over two semesters, beginning in September and ending in June. Applications are made through UCAS and, once registered, students have a guaranteed route to a degree at the University provided they achieve the required grades in academic subjects and in English language. We accept a large number of international students to our undergraduate courses every year, so if your international qualifications do not reflect the grade requirements, then please feel free to contact our undergraduate admissions administrator: socsciug@city.ac.uk +44 (0) Dr Andy Denis, Undergraduate Course Director, offers the following advice to prospective City Economics students: There are two things you can do to prepare for your economics degree before you come. (1) have a look at a standard introductory textbook Sloman, and Begg, Dornbusch & Fischer are two good examples (we use Sloman in the first year at City), and (2) read the articles on economic issues in the quality press, especially The Economist and the Financial Times (you will be supplied with both once you come here). You will be taught the relevant theory in the course of your programme of studies, but what you need to start doing now, and carrying on doing for the duration of your degree, is to see how economic ideas interact with the real world. Economics is a discipline full of controversy for example, should the government make substantial cuts to public expenditure, as well as or in addition to increases in taxes, in order to reduce the national debt now, later, or at all? Start now to engage with these debates by following them in the press and noting how the participants deploy evidence about the economy and theoretical arguments to support their case. City University London Undergraduate Courses in Economics page 12

9 SCHOOL OF SOCIAL SCIENCES City University London Northampton Square London EC1V 0HB Find out more now at Phone +44 (0) city.ac.uk 1.3miles from City to the Bank of England 4exemptions available to City Economics and Accountancy students DESIGN: PS LoNDoN 90% 1 with their course of Financial Economics students are satisfied according to the 2010 National Student Survey City Economics student in this year s Graduate 100 Awards (from 13,000 nominations) The information in this leaflet is correct at the time of going to press. The University reserves the right, arising from unforeseen events or circumstances beyond our control, to add or remove courses and to make changes in regulations, syllabuses, course options and modules, fees etc without prior notice. Fees quoted are for one year only. Complaints concerning the accuracy of information provided by the University in this leaflet and in related course brochures should be made to the Academic Registrar. Any complainants who feel their complaints have not been dealt with satisfactorily may write to the Higher Education Quality Assurance Agency.