Manchester Metropolitan University

BA (Hons)

Economics and Finance (Joint Honours)

2018 entry

Features and benefits of the course

  • All of the banking and finance staff teaching on our programmes are professionally qualified, with many maintaining close links with the professional bodies through examination and consultancy.
  • Staff are student-focused and have developed innovative teaching techniques involving the use of web-based learning platforms and software used by leading practitioners in the financial services sector.
  • The Faculty of Business and Law hosts two Professional Development Weeks annually. Free and open to all students, this includes a festival of skills-development activities, practical support in developing your CV and employability skills, and the opportunity to network with actively recruiting graduate employers. 

Accreditations, Awards and Endorsements

About the course

Typical units of study may include

Year 1

You will study four, 30-credit units:

  • Financial Accounting
  • Financial Decision Making
  • Foundations of Quantitative Analysis in Economics and Finance
  • Micro/Macro Principles 1

Core Units
Financial Accounting

This unit provides you with an introduction to the concepts of financial accounting including recording fundamental transactions and preparing simple financial statements. Your studies will cover topics such as the fundamentals of financial accounting, the application of various concepts, and the preparation of an income statement and statement of financial position. This unit will also introduce the basic concepts of direct and indirect taxation involving simple transactions and basic calculations. Finally, this unit will use an IT package (such as SAGE) to demonstrate how transactions can be recorded and processed.

Financial Decision Making

Identifying, applying and evaluating information for management techniques to assist management with planning, control and decision making within a business environment. This will cover management accounting fundamentals: cost classification and behaviour; inventory valuation and controls; traditional full cost methods; marginal costing and short and long-term decision making techniques with appropriate software packages.

Foundations of Quantitative Analysis in Economics and Finance

Quantitative methods allow analysts to express theories and concepts accurately and succinctly. Thus, in this unit, theories and scenarios will be described and their effects measured. It will include a review of mathematical principles, introduction to financial analysis, differentiation, economic and business applications, introduction to statistics, graphical analysis tools, introduction to probabilistic analysis, random variables and estimation, and bivariate analysis.

Micro/Macro Principles 1

Introductory theories of microeconomics and macroeconomics. The former covers theories of supply and demand, elasticity estimations and utility theories. The latter would cover models such as the circular flow of income, the four sector keynesian model and the Phillips Curve.

 

Year 2

You will study four, 30-credit units:

  • Micro/Macro Principles 2
  • Current Issues in Economics

In addition to a choice of two units from the following:

  • Management Accounting and Internal Systems
  • Financial Reporting
  • Corporate Finance and Tax 1

Core Units
Current Issues in Economics

This unit revisits some of the basic economic issues introduced at Level 4 but analyses them from an applied economic perspective & outlines how they impact the development of economic policymaking, particularly in the UK context. The applied course content is dominated by applied UK macroeconomic issues, such as the economic impact of Brexit, although some microeconomic/sectoral areas will be explored. The course thus aims, by exploring trends in the data, to deepen your knowledge of the principles of macroeconomic analysis; this, in turn, will help you understand recent dilemmas in UK economic performance & policymaking.

Micro/Macro Principles 2

The unit extends theories from Level 4 in both microeconomics and macroeconomics. For microeconomics, these include: the theory of the firm (monopoly, oligopoly, perfect competiton); externalities and utility maximisation. For macroeconomics, theories of consumption, money supply (money creation) and money demand and ISLM in a closed economy.

Likely Optional Units
Corporate Finance and Tax 1

This unit provides a framework to allow students to appreciate the issues involved in corporate financial management.  It examines the basic principles of financial management and applies them to the main decisions faced by financial managers.  The unit covers the following topic areas - The objectives of financial management, Time Value of Money,Valuation – Bonds / Company, Cost of Capital, Portfolio Theory, CAPM, Efficient Markets Hypothesis, Dividend Theory,Capital Structure, Investment Appraisal Techniques, Real Options. The tax aspect of the unit will cover an introduction to both personal, business and corporate taxation to give students a core understanding and appreciation of the subject before moving on the level six unit.

Financial Reporting

This unit develops your skills in preparing financial statements for corporate entities using IFRS. Your studies will cover the ethical application of a range of accounting standards for single companies and basic groups. It will help you apply these standards to common business transactions. You will analyse financial statements in a range of contexts and understand the governance implications of financial reporting.

Management Accounting and Internal Systems

Building upon the Financial Decision Making unit at Level 4, students will develop a broader insight into management accounting. Apply management accounting principles and techniques to produce, analyse and interpret management accounting information for planning, control and decision-making in a modern business context. Study the wider business context within which information systems operate and analyse how information systems can be implemented in support of the organisation’s strategy.  The unit will introduce the concept and tools and techniques of operations management. Studies will cover topics such as: Cost predication, cost accumulation using modern costing techniques, producing management accounting information for short-term decision making, product pricing, further aspects of budgeting and advanced variance analysis. In addition you will look at the role of information systems in organisations, including enterprise-wide and other emerging systems and discuss ways of implementing, organising and managing information system activities as well as an introduction to the concept of supply chains, supply chain management and process mapping.

Year 3

You will study four, 30-credit units:

  • Micro/Macro Principles 3

 In addition to a choice of three units from the following:

  • Economic Applications and Practice
  • Economics of Growth and Development
  • Economics of the European Monetary Union
  • Corporate Reporting
  • Corporate Finance and Tax 2
  • Current Issues in Management Accounting
  • Business Environment and Operations
  • International Business and Global Change
  • International Economics

Core Units
Macro/Micro Principles 3

Intermediate principles of economic theory. In the microeconomics part, cost-benefit analysis, game theory and strategic behaviour in imperfect competition. In the macro part, the topics will include assessment of country's debts and deficits, money creation - high powered money multiplier and rules versus discretion in monetary policy.

Likely Optional Units
Business Environment and Operations

This unit provides you with a holistic view of management across the organisation in particular the role of the management accountant. The unit builds on important concepts from management account studies and ethics, and includes strategic options, skills and issues the accountant would be exposed to in an organisational environment. Your studies will cover topics such as identifying types of competitive environment, developing strategies, CSR and ethics, the marketing environment, developments in strategic management; you will be learning the tools and techniques of project management including the role of a project manager. In addition to the competitive environment and project management you will also learn the concepts associated with the effective operation of an organisation and the various approaches of management and leadership, including the activities associated with managing people.

Corporate Finance and Tax 2

This level six unit builds upon the introductory financial management concepts in "Corporate Finance & Tax 1". The course covers advanced Investment Appraisal, cost of capital and business valuations using commercial examples. New topics introduced at this level include risk management focusing on the use of financial instruments to  manage exchange rate index, commodity and interest rate risk and then option pricing using BSM model and the use of real options. The tax aspect of this unit develops the core knowledge gained at level 5 to look at the tax consequences of real world scenarios for both individuals, businesses and corporations and the mitigation of tax liabilities through tax planning.

Corporate Reporting

This unit will develop the understanding of conceptual frameworks and accounting theories and their application in the current business environment. It will develop your knowledge of accounting standards, group reporting and corporate analysis in complex environments. You will develop and appreciation of the common ethical, professional judgement and governance scenarios in which a professional accountant operates.

Current Issues in Management Accounting

Building upon the Management Accounting and Internal Systems unit at Level 5, you will develop a strategic insight into management accounting and performance management.  Your studies will cover topics such as: The elements of Management Accounting, competitive strategies and how they influence management accounting practices, traditional and modern performance management techniques, transfer pricing, reward systems and behavioural aspects of management accounting, ethical issues in management accounting, quality management (including practices of continuous improvement) and how they impact management accounting and contemporary issues in management accounting.

Economic Applications and Practice

This unit focuses on applied economics and economic policy in action, thereby building on the foundation of micro/macroeconomic theory outlined at levels 4 and 5. The material analyses some of the current (macroeconomic) policy dilemmas facing policy makers in OECD economies– fiscal capacity/sustainability, growing inequality, financial stability, the limits of (non-conventional) monetary policy, international trade and the need for (sustainable/green) economic growth. The unit will also explore the (changing) role of international economic organisations (eg IMF, World Bank, Bank of International Settlements) post-crisis.

Economics of Growth and Development

This unit considers and evaluates contemporary theories, which purport to explain income asymmetries which persist in the modern world and how these might be addressed, within the context of economic growth and development. Fundamental concepts of the theory of economic growth, the Solow Model of economic growth, the Convergence Hypothesis, Conditional Convergence, Endogenous Economic Growth and Growth Policy, industrial strategy and industrial policy, Common Agricultural Policy (CAP), Primary commodities: EU/ACP Sugar Protocol, states and markets: privatisation, globalisation: competing perspectives on the world economy, decent work and decent livelihood strategies.

Economics of the European and Monetary Union

This unit introduces you to the background, theory and functioning of the European Monetary Union. Topics include the performance of European Monetary Union from its inception to present, advantages of central bank independence, fiscal policy in the European Monetary Union, exchange rate determination under fixed exchange rates, models of exchange rate regime crises and models of multiple equilibria.

International Business and Global Change

The unit provides a critical examination of the processes of globalization and the growing complexity of international business activity, which are transforming the world economy. The main topic areas include an examination of the changing nature and distribution of economic activity, an examination of the meaning of globalisation, an evaluation of the key processes and drivers of globalisation, theories of multinational corporations, the nature of international business environments, methods of servicing overseas markets, production strategies and labour resources.

International Economics

This unit will address issues in both international trade theory and commercial policy. Part 1. International Trade Theory: 1. The Classical Model of the Basis of Commodity Trade 2. The Heckscher-Ohlin Model of Commodity Trade 3. The Gains from Trade and the Distribution of Income 4. Alternative Theories of Comparative Advantage 5. International Factor Movements - Direct Foreign Investment 6. International Factor Movements - Labour Migration: Part 2. The Theory of Commercial Policy: 7. General Arguments for Tariffs and Optimal Tariffs 8. The theory of the Second Best 9. Non-tariff Barriers to Trade 10. Theory of Customs Union and Free Trade Areas 11. Strategic Trade policy 12. Regulating International Trade: GATT to WTO.

Programme Review

Each programme of study that we offer undergoes an annual review to ensure an up-to-date curriculum supported by the latest online learning technology. In addition, we undertake a major review of the programme, normally at 6-yearly intervals, but this can take place at a more frequent interval where required. Applicants should note that the programme currently provided may be subject to change as a result of the review process. We only make changes where we consider it necessary to do so or where we feel that certain changes are in the best interests of students and to enhance the quality of provision. Occasionally, we have to make changes for reasons outside our control. Where there are changes which may materially affect the current programme content and/or structure, offer holders will be informed.

Assessment Weightings and Contact Hours

10 credits equates to 100 hours of study, which is a combination of lectures, seminars and practical sessions, and independent study. A 3 year degree qualification typically comprises 360 credits (120 credits per year). The exact composition of your study time and assessments for the course will vary according to your option choices and style of learning, but it could be:

Study
  • Year 1 25% lectures, seminars or similar; 75% independent study
  • Year 2 25% lectures, seminars or similar; 75% independent study
  • Year 3 20% lectures, seminars or similar; 80% independent study
Assessment
  • Year 1 30-50% coursework, 50-70% examination
  • Year 2 30-50% coursework, 50-70% examination
  • Year 3 30-50% coursework, 50-70% examination

Teaching Staff

Your studies are supported by a team of committed and enthusiastic teachers and researchers, experts in their chosen field. We also work with external professionals, many of whom are Manchester Met alumni, to enhance your learning and appreciation of the wider subject. Details of departmental staff can be found at: http://www2.mmu.ac.uk/business-school/about-us/our-staff/afe/

Typical entry requirements

These typical entry requirements apply to the 2017 academic year of entry and may be subject to change for the 2018 academic year. Please check back for further details.

UCAS Tariff points/Grades required

104-112

104-112 UCAS Tariff Points at A2 (Grades BCC-BBC) or acceptable alternatives e.g. BTEC Subsidiary Diploma, Diploma, Extended Diploma at Level 3 (Grades DMM).

Specific GCSE requirements

GCSE grade C or grade 4 in English Language and Mathematics. Level 2 Functional Skills English and Mathematics also accepted.

Non Tariffed Qualifications

106-112 UCAS Tariff Points from a relevant Access to HE Diploma with at least 45 credits at Level 3.

International Baccalaureate points

26 IB Diploma Points

IELTS score required for international students

6.0 with no element below 5.5

There’s further information for international students on our international website if you’re applying with non-UK qualifications.

Further information

Applications are considered individually and you are advised to contact our Course Enquires team via the web form www.mmu.ac.uk/course-enquiry

Your career prospects after the course

Graduates from this course will be ultimately placed to go into careers within the financial services industries but will have gained economical knowledge to pursue careers in financial forecasting, economic and financial analysis.

Large international banks, private wealth and asset management firms, as well as hedge fund management may all be suitable careers for graduates from this course, as would setting up your own independent consultancy or management practice.

94%

In 2014, over 94% of our graduates went directly into work or further study within 6 months of graduation

DHLE survey 2014, for all respondents available for employment or further study and whose destinations are known

How do I apply for this course?

Applications through UCAS

Remember to use the correct institution code for Manchester Metropolitan University on your application: our institution code is M40

Confirmation of Regulator

The Higher Education Funding Council for England is the principal regulator for the University.

Important Notice

This online prospectus provides an overview of our programmes of study and the University. We regularly update our online prospectus so that our published course information is accurate and up to date. Please note that our programmes are subject to review and development on an ongoing basis. Changes may sometimes be necessary. For example, to comply with the requirements of professional or accrediting bodies or as a result of student feedback or external examiners’ reports. We also need to ensure that our courses are dynamic and current and that the content and structure maintain academic standards and enhance the quality of the student experience.

Please check back to the online prospectus before making an application to us.

The provision of education by the University is subject to terms and conditions of enrollment and contract. The current Terms and Conditions Applicable to the provision of the University’s Educational Services are available online. When a student enrolls with us, their study and registration at the University will be governed by various regulations, policies and procedures. It is important that applicants/students familiarize themselves with our Terms and Conditions and the Key Contract Documents referred to within. Applicants will be provided with access to an up to date version at offer stage. This can be found within the Information for Offer Holders document.

Undergraduate Study