 Pathways (Business Economics)
Designed to produce professional economists who will influence the formulation of business and corporate strategies and shape economic policy. The course builds on 4 major core streams in Microeconomic Management and Policy, Macroeconomic Environment, Data Handling and Analysis, and Integrative Economics. There is a variety of elective choices of direct relevance to business economists. This pathway will be of particular interest to those wishing to pursue careers in government, economics and management consultancy, business management, public corporations, regulatory agencies, and as analysts or investment bankers.
Module Specifications
Semester 1 - Pathway Core modules
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Data Handling and Analysis
The class is offered in the belief that an important part of the work of many economists includes empirical analysis of issues and problems using an economics perspective. Students will begin this class with some previous quantitative background. However, that background will sometimes be rather limited in scope, and will often be rather theoretical in nature. At the completion of this class, it is expected that each student will have a good knowledge of, and practical experience in, those data handling, mathematical, statistical and modelling techniques that are likely to be used by practicing economists.
- Integrative Economics
Because of the rather unusual nature of Integrative Economics, the aims and objectives of the class will be elucidated here by describing the roles and functions it plays in the degree course. The MSc programme as a whole aims, inter alia, to develop the analytical skills of economics graduates for future employment in the private and public sectors. In pursuing this objective, it emphasises application of economic analysis to policy issues and business problems. IE is designed to play three principal roles in attaining these overall programme objectives. The first of these roles relates to integration of, and linkages between, various components of the programme. The second pertains to its problem-based learning approach, and the third to its thorough-going emphasis on group learning.
- Macroeconomic
Environment 1
This class aims to introduce students to the major perspectives and theories in macroeconomics and to develop an appreciation of how macroeconomic policy influences the business environment.
- Macroeconomic
Environment 2
This class is intended to develop and enhance your understanding of monetary and fiscal policy as tools to achieve macro policy objectives, and to introduce you to multi-sectoral economic modelling, in particular using Input-Output and Computable General Equilibrium models.
- Microeconomic Management and Policy
The class with a review of microeconomics principles, with a focus on market failure and welfare economics. It then extends the price theoretic model of economic behaviour to consider the role of 'institutions' such as law, contracts and organisations in shaping economic behaviour. The various tools which economists have developed to make such an analysis possible are illustrated by examples drawn from the fields of development, business, finance, the natural environment, and regional economics. The class concludes with a section on game theory as an analytical tool.
Semester 2
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