Manchester Metropolitan University

BA/BSc (Hons)

Economics

2018 entry

Features and benefits of the course

  • Our Economics degree is one of the very few to offer post-crash heterodox economics units. 
  • 96% of Economics graduates were in employment or further study six months after graduation (DHLE, 2015). 
  • This degree enables you to study for a BA (Hons) or BSc (Hons) in Economics.
  • BA (Hons) Economics provides the broadest range of options from different economic specialisms. Topics may include: quantitative skills; statistical applications for business planning and forecasting; studies of economic policy; financial economics and business economics.
  • BSc (Hons) Economics enables you to focus on quantitative skills and the units reinforce and extend the applied statistical knowledge  you devleoped in your first year.
  • You will have free access to industry standard software including Bloomberg and Stata throughout your studies. 
  • You will be taught in the Business School’s state of the art building in central Manchester. Watch the video to find out more.
  • Flexibility and choice with the option to switch degree routes.
  • Our staff are research active and they integrate their findings into their undergraduate teaching. This ensures that your studies have a strong theoretical underpinning which is informed by the latest developments.
  • The course is delivered in a friendly and supportive environment with good access to excellent facilities.
  • An Economics degree develops numerous skills for employment - including analytical, quantitative, IT, presentation and inter-personal skills and we have an impressive graduate employment record.
  • Staff are student focused and have developed innovative teaching methods including Moodle - the University's virtual learning environment - podcasting and videos.
  • 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

Placement options

A placement year can be an excellent opportunity to acquire high quality work experience and structured on–the-job training whilst earning a salary. There are also opportunities for you to undertake a placement based project where you research a business issue for your employer. This project can count towards one of your final year units and reduces your workload in your final year. The placement must be a minimum of 36 weeks but it will usually last for 12 months and takes place after your second year of study.

We have an award-winning placement team, who advertise vacancies and can help you find a placement. The team has over 25 years experience of matching students to employers. They advertise over 1,000 vacancies each year, organise an annual placement fair where you can meet employers who are actively recruiting placement students, deliver CV workshops, provide one-to-one advice, and will conduct a mock interview with you so you can practice your interview technique.

The placement jobs market is competitive and it is your responsibility to be pro-active and apply for vacancies. We recommend that you start researching companies and opportunities during your first year and apply for positions at the start of your second year. Finding the right opportunity and the right position is important because if you are a good match to your placement, your employer could offer you a full-time position when you have graduated.

For more information about Placements, please visit our Placement's page.

About the course

During your studies of economics, you can choose to tailor your degree to a particular area of specialisation, such as business economics, based on your interests and strengths. 

In Year 1, your studies provide a thorough grounding in Economics.

In Year 2, you start to specialise through either choosing a pathway or the quantitative analysis unit if you wish to progress to the BSc.

In Year 3, you can complete the BA (Hons) Economics or transfer to BSc (Hons) Economics, which has a stronger focus on applied statistical knowledge and quantitative skills.

Please note that we do not accept direct applications to the BSc degree. A four year route is available where you can undertake a placement year working in industry or studying abroad. 

Typical units of study may include

Year 1

You will study three 30-credit units and two 15 credit units:

  • Foundations of Quantitative Analysis in Economics and Finance (30 credits)
  • Introduction to Macroeconomic Principles (30 credits)
  • Introduction to Microeconomic Principles (30 credits)
  • Business and Financial Environment (15 credits)
  • Personal and Professional Development (15 credits)

Core Units
Introduction to Macroeconomic Principles

This unit introduces you to the key domestic macro-economic objectives, modeling, analysis and applications with an emphasis on assessing the UK economy within its international context. The main topic areas include: the circular flow of income; the Keynesian income-expenditure approach; transmission mechanisms; supply and demand for money; monetary and fiscal policy; supply management; inflation; unemployment; international trade; exchange rate systems; and growth and sustainable development. 

Business and Financial Environment (15 credits)

This unit exposes you to the development and current context of the business environment examining domestic and international roles. The main themes this unit covers include: business environment, interpretation of financial analysis, competitive environments, organisational culture and challenges from globalisation. 

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.

Introduction to Microeconomics

This unit will look more closely at how individuals, society and institutions (such as firms) make decisions. The tool kit will become more complex and mathematical in order that we can reach more nuanced judgements on which decision would be the most appropriate in given contexts. We will cover topics such as: individual and producer behaviour; utility theory; public goods and externalities; behavioural economics; asymmetric information; cost benefit analysis; market power and pricing decisions; imperfect completion including strategic behaviour. In addition, you will also look at the impact of non-conventional market-based theories on aspects of micro-economic thought.

Personal and Professional Development

This 15-credit unit has been developed to assist you with the transition from further to higher education and aims to address your personal, professional and academic needs as a new undergraduate student. The unit aims to provide a holistic approach to developing your employability skills and attributes by supporting you at the first stage of your transition from university entry to professional entry level. During this unit, you will explore your own personal development via the emergent Life Skills or ‘Soft Skills’ perspective. The unit seeks to develop your personal attitudes and behaviours towards the concept of Professional Development via the Faculty of Business and Law’s Early Career Professional skills framework, which includes thinking critically, communicating effectively, professional and commercial awareness, and being able to demonstrate values. The unit has been designed to offer a potential parallel route for students to register for and gain the University’s Futures Skills Award within the period of study.

Year 2

You will study four, 30-credit units. In your second year, you will choose to either study a BA (Hons) Economics degree, opting to choose a particular economics pathway to suit your interests, or choose to study the BSc (Hons) Economics degree route. The structure of the BA and BSc routes differ in core and option units available and are outlined below.

BA (Hons) Economics route

Core units - all students on the BA route will study the following two core units, one additional core unit and one option unit depending on your pathway of choice:

  • Intermediate Microeconomics
  • Intermediate Macroeconomics

Economic Pathway: 

Additional core unit: Economics of Money and Banking

One option unit from: 

  • Quantitative Analysis in Economics and Finance
  • Firm's Behaviour, Markets and Environments
  • Schools of Economics
  • Economics of Corporate Finance
  • Current Issues in Economics

Political Economy pathway: 

Additional core unit: Schools of Economics

One option unit from: 

  • Quantitative Analysis in Economics and Finance
  • Firm's Behaviour, Markets and Environments
  • Economics of Money and Banking
  • Economics of Corporate Finance
  • Current Issues in Economics

Policy Pathway:

Additional core unit: Current Issues in Economics

One option unit from: 

  • Quantitative Analysis in Economics and Finance
  • Firm's Behaviour, Markets and Environments
  • Economics of Money and Banking
  • Economics of Corporate Finance
  • Schools of Economics

Business Pathway:

Additional core unit: Firm's Behaviour, Markets and Environments

One option unit from: 

  • Quantitative Analysis in Economics and Finance
  • Current Issues in Economics
  • Economics of Money and Banking
  • Economics of Corporate Finance
  • Schools of Economics

BSc (Hons) Economics route

Core units:

  • Intermediate Microeconomics
  • Intermediate Macroeconomics
  • Quantitative Analysis in Economics
  • One Option unit*

*Option units currently are:

  • Economics of Corporate Finance
  • Schools of Economics
  • Current Issues in Economics
  • Economics of Money and Banking
  • Firms’ Behaviour, Markets and Environments

Core Units
Intermediate Macroeconomics

This unit is designed to provide intermediate modelling in macroeconomics, which form the theoretical foundations for applied and theoretical units at level 6. Topics such as ISLMBP analysis, money supply-money demand, extensions of the Phillips Curve, labour markets models and applications, exchange rates and international macroeconomics are some of the key topics covered.   

Intermediate Microeconomics

This unit will look more closely at how individuals, society and institutions (such as firms) make decisions. The tool kit will become more complex and mathematical in order that we can inform judgements on which decision would be the most appropriate in given contexts. We will cover topics such as; utility theory; public goods and externalities including environmental challenges; behavioural economics; game theory and applications; asymmetric information; general equilibrium; market power and pricing decisions; and imperfect completion including strategic behaviour.

Quantitative Analysis in Economics and Finance

In this unit, you will apply and interpret more complex mathematical and statistical skills, which will underpin your wider acquisition of economic knowledge and tools. Partial differentiation, maximisation techniques, calculus, and introduction to statistics with OLS are covered. 

Likely Optional 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.

Economics of Corporate Finance

This course focuses on financial decision making in the modern corporation. The basic issues include: capital budgeting/corporate investment, capital structure, corporate sources of funding, international finance, and financial risk management. I. Introduction and overview of corporate finance; II. Present value and the opportunity cost of capital;  III. The value of common stock; IV. Topics on net present value; V. Efficient markets; VI. Capital structure; VII. Risk, return and the opportunity cost of capital; VIII. Capital asset pricing model; IX. Futures and Options Markets.

Economics of Money and Banking

This unit examines and critically evaluates the mechanisms in place for the transfer of money in an economy. It also considers the impact of money markets and their regulation on both the national and international economy. Introduction to the financial systems and role of money in the economy; main attributes of a money economy; nature and role of financial intermediation; determination of interest rates; risk and term structure of interest rates; the role, importance and impact of money markets on the economy; the bond markets; foreign exchange; the role of the Bank of England; major deposit taking institutions; non-banking financial intermediaries; financial derivatives and regulation of the financial system.

Firms' Behaviour, Markets and Environments

This unit provides an analysis of the nature of firms, their behaviour, the markets they operate in and the impact of the economic environment on their activities. It will examine the theory and practice of industrial economics. The main topic areas will include traditional and modern theories of the firm; market structure and concentration; imperfect competition; firms' objectives and pricing strategies; non-price competition; the role of technology and production strategies; integration, mergers and growth of the firm; internationalization of the firm; regulation and competition policy.

Schools of Political Economy

This unit is a pluralist exposition of the methodological and theoretical issues relating to the fragmentation of Economics as a discipline into numerous diverse and often contradictory schools, each of various degrees of concreteness. The political economy challenges from the financial crash are particularly addressed with emphasis placed on the role of financial institutions. 

Year 3

If you are on the placement route, you will undertake a minimum of 36 weeks' work experience between Year 2 and Year 3 of your studies.

If you are on the full-time route, you will progress directly into Year 3.

BA (Hons) route

In Year 3 of the BA you study four 30-credit units (two core and two option units). Your core units depend on the focus of your studies and the pathways you have chosen. 

BA Economics pathway:

Core units:

  • Advanced Economic Theory
  • Economics of Growth and Development

Option units: 

  • International Business and Global Change
  • International Economics
  • Contemporary Political Economy
  • Economic Applications and Practice
  • The Economics of the European Monetary Union
  • Corporate Finance and Investments
  • Dissertation (Qualitative)
  • Economics and Crime
  • Environmental Economics

BA Economics with Business pathway:

Core units:

  • International Business and Global Change
  • International Economics

Option units: 

  • Corporate Finance and Investments
  • Dissertation (Qualitative)
  • Economics and Crime
  • Environmental Economics
  • Advanced Economic Theory
  • Economics of Growth and Development
  • Contemporary Political Economy
  • The Economics of the European Monetary Union
  • Economic Applications and Practice

BA Economics with Political Economy pathway:

Core units: 

  • Contemporary Political Economy
  • Economic Applications and Practice

Option units: 

  • International Business and Global Change
  • International Economics
  • The Economics of the European Monetary Union
  • Corporate Finance and Investments
  • Dissertation (Qualitative)
  • Economics and Crime
  • Environmental Economics
  • Advanced Economic Theory
  • Economics of Growth and Development

BA Economics with Policy pathway:

Core units:

  • Economics of the European and Monetary Union
  • Economic Applications and Practice

Option units:

  • International Business and Global Change
  • International Economics
  • Corporate Finance and Investments
  • Dissertation (Qualitative)
  • Economics and Crime
  • Environmental Economics
  • Advanced Economic Theory
  • Economics of Growth and Development
  • Contemporary Political Economy

BSc (Hons) route

In Year 3 of the BSc you study four 30-credit units (three core units and one option unit). The core units are:

  • Econometrics: Analysis and Forecasting
  • Advanced Economic Theory
  • Dissertation (Quantitative)

Plus one option unit from:

  • International Business and Global Change
  • International Economics
  • Contemporary Political Economy
  • Economics and Crime
  • Economics Applications and Practice
  • Corporate Finance and Investments
  • Environmental Economics
  • Economics of Growth and Development
  • The Economics of the European Monetary Union

Core Units
Dissertation (Quantitative)

The dissertation unit gives the opportunity to engage in independent study focusing on a relevant economic, social science or business related area of choice with guidance and supervision. The unit encourages the development of autonomous learning, requiring a commitment to study, initiative, confidence, perseverance, self-motivation and organisation in deploying knowledge, concepts and skills acquired throughout the degree. The topics of study will involve quantitative methods.

Likely Optional Units
Advanced Economic Theory

This unit exposes you to advanced models in macroeconomics and microeconomics. Examples of advanced macroeconomics models include debt and deficit repayment, money creation, sources of budget deficit financing, monetary targeting and monetary policy in open economy. Examples of advanced microeconomics include advanced methodology, game theory, auction theory, informational economics and advanced price theory.

Contemporary Political Economy

In this unit, various modern and contemporary schools of Political Economy will be explored as responses to the current economic environment and also as reactions to mainstream orthodox economic theory. This will include such examples as the Post-Autistic Movement; The Other School of Economics and Islamic Economics; as well new ideas as they emerge.

Corporate Finance and Investments

Focuses on financial decision making in the modern corporation. The basic issues include: capital budgeting and corporate investment, capital structure, corporate sources of funding, international finance, and financial risk management.

Dissertation (Qualitative)

This unit will provide the opportunity to research and produce a sustained, year long, in-depth, research based, piece of scholarly work based on a specific topic of study. The onus is on independent study. The dissertation unit gives the opportunity to engage in independent study focusing on a relevant economic, social science or business related area of choice with guidance and supervision. The unit encourages the development of autonomous learning, requiring a commitment to study, initiative, confidence, perseverance, self-motivation and organisation in deploying knowledge, concepts and skills acquired throughout the degree. The topics of study can involve methods such as interviewing, content/document analysis, case studies or mixed methods (triangulation).

Econometrics: Analysis and Forecasting

Econometrics, literally “measuring economics” is the technique whereby hypotheses and theories about society and business can be modelled and tested. Time-series analysis allows us to make simple forecasts of likely future outcomes based on recent economic patterns.

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 and Crime

The economics of crime is an area of growing activity and concern, increasingly influential both to the study of crime and criminal justice and to the formulation of crime reduction and criminal justice policy.  The module includes an introduction to basic economic concepts and explores how they can be applied to the study of crime and criminality. It also provides a detailed discussion of rationality as an economic concept and its development as a strand of some criminological theories such as Rational Choice theory and Routine Activities theory. 

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.

Environmental Economics

In this unit students will build on the tools and knowledge they have acquired in the preceding levels and apply them to complex environmental natural resources policy issues.

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.

Methods of Assessment

Most units use a mixture of course work and examinations to assess your ability. These assessments primarily test your ability to convey subject knowledge in a concise and coherent style under time- or word-constrained conditions.

Course work can involve a range of different activities including class-based tests, essays, individual and group presentations and written reports.

End of year examinations are mostly two or three-hour, essay-based question papers.

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 3 100% placement
  • Year 4 25% lectures, seminars or similar; 75% independent study
Assessment
  • Year 1 50% coursework; 50% examination
  • Year 2 30% coursework; 70% examination
  • Year 3 100% practical
  • Year 4 45% coursework; 55% examination
Optional foundation year
  • Study 25% lectures, seminars or similar; 75% independent study
  • Assessment 60% coursework; 40% 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.

We will interview you as part of your application.

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.

Additional Requirements

If you do not meet the entry requirements of this course you may be eligible for our foundation year.

Further information

An interview is required as part of the application process. If you are an international applicant, we can arrange the interview with you over Skype or the telephone. 

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

Recent graduates have gone on to careers in the accountancy, banking, consultancy, insurance and retail sectors.

Graduates in economics are able to pursue a variety of careers, many of which make direct use of the knowledge of economics they have acquired.

Some graduates follow careers where their knowledge of economics is used indirectly and their general problem-solving and analytical skills are highly valued.

Other graduates will go on to postgraduate study before entering employment.

Read a student profile:

Aimee Brown, BA (Hons) Economics

Mardiyyah Islam, BA (Hons) Economics

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

Unistats Information

Find out more about Unistats and the Key Information Set.

Find out more about Unistats and the Key Information Set.

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