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Department Of Economics.

Degree Programmes And Modules At Level One 2014–15.

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

Note Every effort has been made to ensure the accuracy of the information given in this publication, but the University can accept no responsibility for any errors or omissions. University courses are continually reviewed and revised and there may be some changes between the date of publication and the time you embark on your course. The University reserves the right to discontinue courses of study and to amend ordinances and regulations governing courses of study whenever it sees fit. Students and others should enquire as to the up-to-date position when they need to know this.

mailto:[email protected]

http://www.sheffield.ac.uk/economics

Contents Introduction 1

General Information 1

Semester Dates 2014–15 1

The Structure of Degree Programmes 1

Number of Credits Taken Each Semester 2

Unavailable and Prohibited Modules 2

Changing Modules 2

Degree Programme Regulations 2

BA Economics 3

BSc Economics 4

BSc Economics with Finance 5

BSc Economics and Mathematics 6

BA Accounting and Financial Management and Economics 7

BA Business Management and Economics 8

BA Economics and Philosophy 9

BA Economics and Politics 10

BA French and Economics 11

BA German and Economics 11

BA Hispanic Studies and Economics 11

BA Russian and Economics 11

Level 1 Economics Modules 12

Module Leaders’ Contact Details 12

Module Outlines 12

ECN104 Introductory Finance for Economics 13

ECN105 Economic Analysis and Policy 1 14

ECN107 Economics Analysis and Policy 2 15

ECN108 Economic History of Britain and the Modern World 16

ECN109 Classical and Contemporary Thinkers in Economics 17

ECN118 Mathematical Methods for Economics 1 18

ECN119 Mathematical Methods for Economics 2 19

ECN120 Statistical Methods for Economics 20 IPS101 The State of Sheffield, Global Perspectives on Local Issues 21

1

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

General Information Semester Dates 2014–15

Autumn Semester

Weeks 1–12 Weeks 13–15

[Intro Week 22–27 September 2014] Monday 29 September – Saturday 20 December 2014

[4 weeks Christmas vacation] Monday 19 January – Saturday 7 February 2015 (examinations*)

Spring Semester

Weeks 1–8 Weeks 9–12 Weeks 13–15

Monday 9 February – Saturday 21 March 2015 [3 weeks Easter vacation]

Monday 13 April – Saturday 23 May 2015 Monday 25 May – Saturday 13 June 2015 (examinations*)

Supplementary (Resit) Examination Period*

Monday 10 – Saturday 23 August 2015

* Examinations take place on Mondays to Saturdays

The Structure of Degree Programmes Each degree programme consists of a series of levels, each level corresponding to a year of full time study. At each level you take six 20 credit modules or an equivalent combination of 10 and 20 credit modules to a total value of 120 credits. Modules are also called units. Upon successful completion of a module (i.e. obtaining a pass in the assessments) you are awarded the credits for that module. Note that the number of credits obtained does not depend on your mark: you either get all of the credits or none. There are three different types of modules in degree programmes: Core modules are those which it is compulsory to take for a particular degree programme. Approved modules are ones where a choice is available, but that choice is restricted to a specific list. The choice available in such cases in each degree programme is shown in this handbook. Unrestricted modules are those where you may choose any module offered in the University for which you satisfy the prerequisites, and for which the relevant department is willing to accept you.

At Level 1 the BA and BSc Economics programmes have 40 credits of unrestricted modules and the BSc Economics with Finance programme has 20 unrestricted credits. However, most Economics dual degree programmes have no unrestricted modules at this level.

At Levels 2 and 3, depending on your programme, you may be able to take up to 20 credits of unrestricted modules per year. Please note you cannot take a Level 1 module as an unrestricted

2

choice in later years except for language modules offered by the Modern Languages Teaching Centre and the School of East Asian Studies.

Number of Credits Taken Each Semester Students normally take 60 credits in each semester but it is common in some degree programmes for students to have, or choose to take, a 50/70 or 70/50 split over the year. Taking an 80/40 split is not usually allowed because of the unbalanced workload and you may only do this with the permission of the Level 1 Coordinator. A 40/80 split will not be approved under any circumstances.

The Level 1 Coordinator is Dr Juan Paez-Farrell (email address [email protected], room 534).

Unavailable and Prohibited Modules It is usual for a number of departments to restrict some or all of their modules to students on their own degree programmes due to capacity constraints. Up-to-date information on module availability in other departments will be available at Module Enrolment in the Octagon Centre in Intro Week. When choosing unrestricted modules, note that ECN101 Business Economics and TRP107 Economics for Spatial Planning are prohibited modules for Economics students. MAS110 cannot be taken with ECN118 or ECN119 and MAS113 cannot be taken with ECN120. Modules with an ACE*** code are run by The Institute for Lifelong Learning (TILL). If you wish to take any TILL module, you must obtain approval for your choice from the Level 1 Coordinator, Dr Juan Paez-Farrell, as well as from TILL. No student may take more than 20 credits of TILL modules as unrestricted choices.

Changing Modules You may change modules during the first three weeks of each semester, subject to availability and the change being in line with your degree programme regulations. If you wish to do this you should complete Module Add/Drop which is available through MUSE. For more information see: www.sheffield.ac.uk/ssid/forms/addrop It’s important to realise that it is your responsibility to catch up on any material that you have missed through joining the module late.

Degree Programme Regulations This section sets out details of the single honours degree programmes entirely within the Department of Economics and dual honours degree programmes to which the department contributes. Please note:

The figure (10) or (20) after each module denotes the credit value.

The approved modules at Levels 2 and 3 are constantly under review. By the time you reach these levels you may well find some changes.

Dual degree students can find the regulations for the other half of your programme in your partner department’s handbook or in the Programme Regulations Finder at www.sheffield.ac.uk/programmeregulationsfinder


http://www.sheffield.ac.uk/ssid/forms/addrop

http://www.sheffield.ac.uk/programmeregulationsfinder

3

BA Economics L100/ECNU02

Level 1

Autumn Semester

ECN105 Economic Analysis and Policy 1 (20) IPS101 The State of Sheffield, Global Perspectives

on Local Issues (non-credit bearing) Spring Semester

ECN107 Economic Analysis and Policy 2 (20) Full academic year

ECN120 Statistical Methods for Economics (20)

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

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

(post A Level Maths stream) Unrestricted modules to the value of 40 credits from

ECN104 Introductory Finance for Economics (20) (Spring)

ECN108 Economic History of Britain and the Modern World (20) (Full academic year)

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

Modules offered by other departments

Level 2

Full academic year

ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) Autumn Semester

ECN219 Research Methods and Introductory Econometrics (20) – see note 1

One of the following ECN217 Applied Microeconomics (20) (Spring) ECN218 Applied Macroeconomics (20) (Autumn) Modules to the value of 40 credits from

ECN212 Further Mathematical Methods for Economics (20)

ECN217 Applied Microeconomics (20) (if not already selected)

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

ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) Unrestricted Level 2 module(s) to the value of 20 credits

Level 3

Full academic year

One of the following ECN301 Topics in Advanced

Microeconomics (20) ECN302 Topics in Advanced

Macroeconomics (20) Modules to the value of 100 credits from

ECN301 Topics in Advanced Microeconomics (20) (if not already selected)

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

ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN330 Economics Undergraduate

Dissertation (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

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

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

2. Choice of option modules and the

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

4

BSc Economics L101/ECNU14

Level 1

Autumn Semester




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

ECN120 Statistical Methods for Economics (20) Unrestricted modules to the value of 40 credits from

ECN104 Introductory Finance for Economics (20) (Spring)




Level 2

Full academic year

ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) ECN212 Further Mathematical Methods for

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

ECN217 Applied Microeconomics (20) (if not already selected)

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

ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) Unrestricted Level 2 module(s) (20)

Level 3

Full academic year

One of the following ECN301 Topics in Advanced


Macroeconomics (20) Modules to the value of 80 credits from



ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN330 Economics Undergraduate

Dissertation (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

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

5

BSc Economics with Finance L1N3/ECNU23

Level 1

Autumn Semester



ECN104 Introductory Finance for Economics (20) ECN107 Economic Analysis and Policy 2 (20) Full academic year


ECN120 Statistical Methods for Economics (20) Unrestricted module(s) to the value of 20 credits from




Level 2

Full academic year

ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) ECN212 Further Mathematical Methods for

Economics (20) ECN216 Econometrics (20) Spring Semester

ECN220 Money, Banking and Finance (20) A module to the value of 20 credits from

ECN218 Applied Macroeconomics (20) ECN221 The Economics of Social Issues (20) Unrestricted Level 2 module(s) (20)

Level 3

Full academic year

One of the following ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) Autumn Semester

ECN324 Monetary Economics (20) Spring Semester

ECN357 Modern Finance (20)

Modules to the value of 60 credits from



ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN330 Economics Undergraduate

Dissertation (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN358 Economic Analysis of Inequality

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

6

BSc Economics and Mathematics LG11/ECNU16

Level 1

Autumn Semester

ECN105 Economic Analysis and Policy 1 (20) MAS110 Mathematics Core I (20) IPS101 The State of Sheffield, Global Perspectives


ECN107 Economic Analysis and Policy 2 (20) MAS111 Mathematics Core II (20) Full academic year

MAS113 Introduction to Probability and Statistics (20) MAS114 Numbers and Groups (20)

Level 2

Autumn Semester

MAS211 Advanced Calculus and Linear Algebra (20) Full academic year

ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) Modules to the value of 60 credits from A below, or 40 credits from B1 and 20 credits from B2 A ECN216 Econometrics (20) MAS220 Algebra (20) MAS221 Analysis (20) B1 MAS223 Statistical Inference and Modelling (20) MAS275 Probability Modelling (10) MAS281 Probability and Statistics in Society (10) B2 A module to the value of 20 credits from ECN216 Econometrics (20) ECN217 Applied Microeconomics (20) ECN218 Applied Macroeconomics (20) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20) Unrestricted Level 2 module(s)

Level 3

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


Macroeconomics (20) ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

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

unrestricted modules can be taken in Mathematics and Statistics.



7

BA Accounting and Financial Management and Economics NL41/MGTU16

Level 1

Autumn Semester






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

Level 2

Full academic year

ECN120 Statistical Methods for Economics (20) ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) Three core modules in Accounting and Financial Management to the value of 60 credits

Level 3


ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality and

Poverty (20) Two core modules in Accounting and Financial Management to the value of 40 credits


Approved module(s) in Accounting and Financial Management Further approved module(s) in Economics – see list above Unrestricted module(s) to the value of 20 credits Note Choice of option modules and the semester in which a module runs may change from year to year.

8

BA Business Management and Economics NL21/MGTU15

Level 1

Autumn Semester






(post A Level Maths stream) Three core modules in Business Management to the value of 50 credits Unrestricted module to the value of 10 credits from

MGT140 Business Challenges (10) (Autumn) Modules offered by other departments

Level 2

Full academic year

ECN120 Statistical Methods for Economics (20) ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) Three core modules in Business Management to the value of 60 credits

Level 3

One core module and one approved module in Business Management to the value of 40 credits Modules to the value of 40 credits from


Poverty (20)


Further approved module(s) in Business Management Further approved module(s) in Economics - see list above Unrestricted module(s) to the value of 20 credits Note Choice of option modules and the semester in which a module runs may change from year to year.

9

BA Economics and Philosophy LV15/ECNU07

Level 1

Autumn Semester




ECN120 Statistical Methods for Economics (20)



(post A Level Maths stream) Approved modules in Philosophy to the value of 40 credits

Level 2

Full academic year

ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) Approved modules in Philosophy to the value of 40 credits Modules to the value of 40 credits from

ECN212 Further Mathematical Methods for Economics (20)

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

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

Level 3


ECN301 Topics in Advanced Microeconomics (20) ECN302 Topics in Advanced Macroeconomics (20) ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20)

ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Two approved modules in Philosophy to the value of 40 credits Modules to the value of 40 credits from

Further approved module(s) in Economics – see list above Further approved module(s) in Philosophy Unrestricted Level 3 module(s) to the value of 20 credits Notes 1. Over Levels 2 and 3 you must take at

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

2. ECN216 cannot be taken in

combination with ECN219. 3. Choice of option modules and the


10

BA Economics and Politics LL12/ECNU08

Level 1

Autumn Semester




One of the following

ECN118 Mathematical Methods for Economics 1 (20) (non A Level Maths stream)


One core module and two approved modules in Politics to the value of 60 credits

Level 2

Full academic year

ECN120 Statistical Methods for Economics (20) ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) One core module and two approved modules in Politics to the value of 60 credits

Level 3



Poverty (20) One core module in Politics to the value of 20 credits Approved module(s) in Politics to the value of 40 credits

Note Choice of option modules and the semester in which a module runs may change from year to year.

11

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

RL41/HSSU06 BA Russian and Economics RL71/RUSU02

Level 1

Autumn Semester ECN105 Economic Analysis and Policy 1 (20) IPA101 ThinkCreate (non-credit bearing) Spring Semester ECN107 Economic Analysis and Policy 2 (20) Full academic year



(post A Level Maths stream) Core modules in the relevant language to the value of 40 credits Duals with French, German and Hispanic Studies

One of the following ECN120 Statistical Methods for Economics (20)

(Full academic year) – see note 1 Unrestricted module(s) to the value of 20 credits Russian and Economics

One of the following ECN120 Statistical Methods for Economics (20)

(post A Level Russian stream) or A further core module in Russian worth 20 credits

(non A Level Russian stream)

Level 2

Full academic year ECN201 Microeconomic Principles (20) ECN202 Macroeconomic Principles (20) One of the following ECN120 Statistical Methods for Economics (20)

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

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

Econometrics (20) ECN220 Money, Banking and Finance (20) ECN221 The Economics of Social Issues (20)

Core and approved modules in the relevant language to the value of 60 credits

Level 3


ECN301 Topics in Advanced Microeconomics (20)

ECN302 Topics in Advanced Macroeconomics (20)

ECN303 Economics of Cities (20) ECN304 Education Economics (20) ECN314 Industrial Organisation (20) ECN315 Labour Economics (20) ECN321 International Trade (20) ECN324 Monetary Economics (20) ECN340 Further Econometrics (20) ECN342 Mathematical Economics (20) ECN346 Development Economics (20) ECN353 The International Economy (20) ECN354 Health Economics (20) ECN357 Modern Finance (20) ECN358 Economic Analysis of Inequality

and Poverty (20) Core and approved modules in the relevant language to the value of 60 credits Notes 1. ECN120 Statistical Methods for

Economics must be taken at Level 1 rather than at Level 2 if timetabling allows.



12

Level 1 Economics Modules

Module Leaders’ Contact Details

Module Module Leader Room Email Telephone

ECN104 Dr Vassilis Sarantides 519 [email protected] 0114 222 3324

ECN105 ECN118 ECN119

Dr Pamela Lenton 509 [email protected] 0114 222 3418

ECN107 ECN120

Mr Simon Tebbutt 417 [email protected] 0114 222 3400

ECN108 Professor Paul Mosley 418 [email protected] 0114 222 3397

ECN109 Professor Sarah Brown 531 [email protected] 0114 222 3404

Module Outlines The following pages describe modules at Level 1 offered by the Department of Economics. Where there are restrictions on eligibility for these modules, this is clearly shown. More detailed reading for all modules will be given at the start of the semester in which the module occurs. There may be some changes before a module begins and occasionally the eventual recommended book for the module may not appear in the basic reading shown here. If you need general advice about module choice you should talk to your personal tutor. For more information about specific modules please contact the module leader.






13

Introductory Finance for Economics ECN104

Co-requisite Module Leader Semester Credits

ECN118/119 Mathematical Methods for Economics 1 or 2

Dr Vassilis Sarantides Spring 20

This is a core module for BSc Economics with Finance students and an optional module for BA and BSc Economics students. Nature of the Subject

To introduce the basics of the financing and investment decisions of financial managers. Aims of the Module

This unit aims to provide a solid grounding in the basic concepts of finance for economists, focusing in particular on theoretical analysis and problem solving. Learning Objectives

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

an understanding of the different types of financial markets and their role;

an understanding of the most appropriate techniques used to evaluate financial assets and investment projects;

a formal awareness of the debate on the efficiency of financial markets;

the ability to compare the different methods of external financing and assess their appropriateness in comparison to internal sources of finance.

Syllabus

The syllabus will aim to include the following topics: financial mathematics; simple and compound interest; discounting and present values; valuation of bonds and stocks; the risk-return trade off; investment analysis and appraisal; market efficiency; corporate and equity financing; the financial crisis. Note that the schedule of topics may be altered. Teaching Method

Ten two-hour lectures and eight one-hour workshops spread over the semester. Assessment

The final examination will account for 100% of the overall module mark. Basic Reading

The key text for this module, to which frequent reference will be made, is: Hillier, D. and Clacher, I. (2011) Fundamentals of Corporate Finance, 1st European Edition, McGraw Hill, ISBN: 9780077125257. For further reading: Brealey, R., Myers, S. and Allen F. (2013) Principles of Corporate Finance, 11th Global Edition, McGraw Hill, ISBN: 9780077151560.

14

Economic Analysis and Policy 1 ECN105

Prerequisites Module Leader Semester Credits

Grade B in GCSE Mathematics or equivalent. Cannot be taken with ECN101

Dr Pamela Lenton Autumn 20

This is a core economics module for all single and dual honours Economics students. Nature of the Subject

To introduce the foundations of economic analysis. Aims of the Module

The aim of this module is to provide students with the basic knowledge of both microeconomics and macroeconomics. Microeconomics is concerned with the choices of economic agents, such as individuals, households and firms , and how these agents interact in the market to determine prices and the allocation of resources in an economy. Macroeconomics is concerned with the aggregate level of output, employment and prices, the interaction between these variables, and the role of public policy in controlling unemployment and inflation. Learning Objectives


knowledge of and an ability to apply relevant tools of economic analysis to economic problems;

an understanding of the basic elements of microeconomic theories of choice, particularly as applied to individuals and households;

a basic understanding of some of the tools used in macroeconomic analysis, including the Keynesian income-expenditure model and the IS/LM model.

Syllabus

Microeconomics: Thinking like an economist; the basis for exchange (comparative advantage); demand, supply and market equilibrium; indifference curve analysis (1) – rational consumer choice and the individual’s demand curve; the concept of elasticity; government intervention in the market; indifference curve analysis (2) – the individual as a supplier. Macroeconomics: National income accounting; consumption function and the income-expenditure model; investment and the rate of interest; the demand for money and the supply of money; the IS-LM model; fiscal and monetary policies. Teaching Method

Twenty lectures, (two per week – usually one microeconomics and one macroeconomics) plus eight tutorials (four micro and four macro). In addition there will be 10 hours of ‘workshops’, spread over the semester. Assessment

The final examination will account for 75% of the overall module mark and the remainder will come from within-course assessment. Basic Reading

The key text for this module, to which frequent reference will be made, is: Begg, D., Vernasca, G., Fischer, S. and Dornbusch, R. (2014) Economics, 11th edition, McGraw-Hill, ISBN: 9780077154516

For further reading: Sloman, J. Wride, A. and Garratt, D. (2012) Economics, 8th edition, Pearson, ISBN: 9780273763246

15

Economic Analysis and Policy 2 ECN107


ECN105 Economic Analysis and Policy 1 Cannot be taken with ECN101

Mr Simon Tebbutt Spring 20

This is a core economics module for single and dual honours Economics students. Nature of the Subject

This module builds on ECN105 in order to provide the fundamental skills in economics required to provide a sound basis for more advanced study of economics at Levels 2 and 3. Aims of the Module

The aim is to enable students to develop a good understanding of the methods of analysis used in micro and macroeconomics, and the ability to apply these methods of analysis to contemporary economic problems. Learning Objectives


understanding of and an ability to apply relevant methods of economic analysis to micro and macroeconomic problems;

development of analytical and essay writing skills;

an understanding of the basic elements of microeconomic theories of choice, particularly as applied to firms;

an understanding of basic macroeconomic models and their applications;

a basic background knowledge of recent economic policy issues. Syllabus

Microeconomics: Production and cost (including isoquant/isocost analysis); market structure; the labour market and other factor markets; risk, information and insurance; welfare economics and government intervention.

Macroeconomics: The labour market and aggregate supply; the aggregate demand and aggregate supply model; short run and long run, inflation and unemployment; the Phillips curve; open economies and currency areas, case studies – recent events in the UK and other significant economies. Teaching Method

Two lectures per week (usually one micro and one macroeconomics) plus eight tutorials (four micro and four macro). In addition there will be 10 hours of ‘workshops’, spread over the semester. Assessment

The final examination will account for 75% of the overall module mark and the remainder will come from in-course assessment. Basic Reading

The key text for this module, to which frequent reference will be made, is: Begg, D., Vernasca, G., Fischer, S. and Dornbusch, R. (2014) Economics, 11th edition, McGraw-Hill, ISBN: 9780077154516

16

Economic History of Britain and the Modern World ECN108


None Professor Paul Mosley Academic year 20

This is an optional module for Level 1 students. Nature of the Subject Provides an introduction to the economic history of Britain (in semester 1) and to the evolution of the global economy (in semester 2) in the context of modern theories of economic growth and development and present-day debates about poverty, inequality and North-South relations. Aims of the Module To introduce some major themes of British and global history in a way which enables us to understand the debate about causes of wealth, poverty and inequality, and policies to achieve economic growth. Learning Objectives By the end of this module students will be expected to demonstrate an understanding of the main themes in post-1750 economic history of the UK and the modern world. Syllabus Semester 1 1. Modern economic growth and the causes of wealth and poverty. 2. Capital and enterprise – sources of the Industrial Revolution. 3. Technical innovation and its origins. 4. Labour, standards of living and poverty. 5. Education, health and economic development. 6. National economic policy. 7. Britain and the world economy. Semester 2 1. Patterns in development: overview. 2. Debates about development and development policy: do the rich countries exploit the poor countries?

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

poverty trends. 7. The rise of the multinational corporation and technical diffusion. 8. Liberalisation, the Washington Consensus and the ‘End of History’. 9. Prospects for the International Economy and Patterns of Development. Teaching Method Lectures and workshops. Assessment One 2500-word essay at the end of semester 1 (50%); one 2-hour exam at the end of semester 2 (50%). Basic Reading Semester 1 – Britain Marr, A. (2008) A History of Modern Britain, London: BBC, ISBN: 9780330439831 Floud, R. and Johnson, P. (2004) The Cambridge Economic History of Modern Britain: Volume 1,

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

Maddison, A. (2001) The World Economy: A Millennial Perspective, Paris: OECD, ISBN: 9789264186088 Semester 2 – global economy Foreman-Peck, J. (1994) A History of the World Economy: International Economic Relations Since 1850,

2nd edition, FT Prentice Hall, ISBN: 9780745009353 Chang, Ha-Joon (2007) Bad Samaritans, London: Random House Business Sachs, J. (2005) The End of Poverty: How We Can Make It Happen in Our Lifetime, London: Penguin,

ISBN: 9780141018669

17

Classical and Contemporary Thinkers in Economics ECN109


None Professor Sarah Brown Academic year 20

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

How did modern economics develop as a discipline?

Who made the significant advances in the intellectual development within our subject?

How do these ‘great thinkers’ contribute to how we research and teach in economics today?

What principles and concepts in modern economics have these individuals given to us?

What is the continuing impact of these economists on our understanding of the ways in which governments, businesses, investors and individuals make decisions today?

Aims of the Module

The module aims are:

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

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

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

Learning Objectives

By the end of the module, students will:

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

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

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

Syllabus

This module introduces students to a range of classical and contemporary economists, including the founders of the discipline and some Nobel Prize winners, past and present. For each economist, a senior member of the department will give a short biography, outline their contributions to the discipline of economics and the development of the subject, and explain how these economists have influenced their own thinking and the research that is undertaken in economics today. Examples of the contribution of these economists to a range of current economic issues will also be used to illustrate the continuing relevance and application of their ideas. Teaching Method

Lectures and workshops, with two lectures and one workshop dedicated to each of the classical and contemporary economists being studied (Smith, Keynes, Samuelson, Sen, Kahneman etc). Assessment

Two one-hour class tests (one at the end of each semester, each worth 30% of the overall mark) and a 2,000 word essay at the end of the module (worth 40%). Basic Reading

Ha-Joon Chang (2014) Economics: The User’s Guide, Pelican, ISBN: 9780718197032

18

Mathematical Methods for Economics 1 ECN118


Restricted to students on a degree course for which this is a core unit, or with the module leader’s approval.

Dr Pamela Lenton Academic year

20

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

acquisition of the essential mathematical skills used in economic analysis;

an ability to make use of the mathematical approach in formulating and analysing problems in economics, and recognition of its limitations;

the facility to solve a range of specific problems. Syllabus Topics covered in the course include: revision of algebra; functions; differential calculus; integration; constrained optimisation; matrix algebra. All topics are demonstrated with economic applications. Teaching Method Twenty two lectures over the academic year, which include refresher mathematics in the first two weeks of the course. Topics typically comprise a lecture covering mathematical technique and a lecture covering the economic application of the technique. There are also 20 workshops and 10 problem solving/examples classes, which are tailored to those who need a gradual introduction to basic mathematics. Assessment An unseen end-of-module examination (50%), plus two class tests (25% each). Basic Reading The key text for this module, to which frequent reference will be made, is: Renshaw, G. (2011) Maths for Economics, 3rd edition, Oxford University Press, ISBN: 9780199602124 For further reading: Jacques, I. (2012) Mathematics for Economics and Business, 7th edition, Pearson, ISBN: 9780273763567

19

Mathematical Methods for Economics 2 ECN119


Restricted to students on a degree course for which this is a core unit, or with the module leader’s approval.

Dr Pamela Lenton Academic year

20

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

acquisition of the essential mathematical skills used in economic analysis;

an ability to make use of the mathematical approach in formulating and analysing problems in economics, and recognition of its limitations;

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

20

Statistical Methods for Economics ECN120


Restricted to students on a degree course for which this is a core unit.

Mr Simon Tebbutt Academic year

20

This is the core statistics module for single honours and BA dual honours Economics students. Nature of the Subject Statistics comprises the rules and procedures for collecting, describing, analysing and interpreting quantitative and qualitative data. These skills find a wide range of uses in economics. Aims of the Module 1. To introduce statistical methods and provide an insight into their uses in economics. 2. To demonstrate application of a range of statistical techniques to economic problems. Learning Objectives By the end of this module students will be expected to demonstrate: 1. skills in describing, analysing and interpreting statistical data. 2. understanding of the principles and assumptions on which these procedures are based. 3. the ability to relate statistical methodology to economic enquiry. Syllabus Topics include collection and presentation of data, descriptive statistics, probability and applications, statistical inference, correlation and regression. Teaching Method Lectures, workshops and tutorials. Assessment An unseen examination (50%) plus two class tests (50%). Basic Reading Barrow, M. (2013) Statistics for Economics, Accounting and Business Studies, 6th edition, Pearson, ISBN: 9780273788508

21

IPS101 The State of Sheffield, Global Perspectives on Local Issues The State of Sheffield is an interdisciplinary challenge that is being implemented for all Level 1 students in the Faculty of Social Sciences, commencing in 2014–15. The aim of the challenge is to broaden your thinking and skills development outside of individual subject areas, and increase employability prospects. The challenge will take place in week 15 of semester 1 (2–6 February 2015). You will be working in groups of 6–8 from across a range of departments and a Facilitator will provide additional support and guidance during the week. Each group will need to select a project topic, which will fall under one of the five overarching themes such as Politics, Migration, Inequality, Physical World and Digital World. The projects are primarily research-based, so you will be building expertise in areas that will help with your studies. Over the course of the week, you will undertake activities which include:

Researching your chosen topic

Attending mini-lectures and training sessions

Producing an artefact (eg poster, map, video)

Presenting your findings to other groups and lecturers The challenge week will conclude with a showcase of artefacts and a prize-giving ceremony. Although the challenge bears no credits, successful completion is compulsory. Attendance and participation during the challenge week is essential, as all students are required to pass the challenge before being able to progress to Level 2. It is therefore advised that you make sure you are in Sheffield for this week. For more information see: www.sheffield.ac.uk/faculty/social-sciences/learningandteaching/state-of-sheffield Note: Students doing a dual degree in Economics with a language are in the Faculty of Arts and Humanities and will take part in a different challenge, IPA101 ThinkCreate. For more information see: www.sheffield.ac.uk/faculty/arts-and-humanities/achieve-more

http://www.sheffield.ac.uk/faculty/social-sciences/learningandteaching/state-of-sheffield

http://www.sheffield.ac.uk/faculty/arts-and-humanities/achieve-more

department of economics. - university of sheffield/file/level-1... · department of economics and...

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