Economics

Microeconomics II

This intermediate module enriches the understanding of microeconomic theory built in previous modules. It covers individual consumer preferences, market demand analysis, production costs, pricing behaviour of firms, and asymmetric information. You'll apply economic theory to real-world scenarios, including issues of price and income subsidies, taxation, insurance, and asset markets. The module utilises a graphical approach to help you develop a basic understanding of general equilibrium theory. You'll learn to distinguish between issues of equity and efficiency in product markets, gaining a deeper understanding of economic policies' societal impact.

Through this module, you'll also develop self-management, learning, communication, and problem-solving skills essential to success in academic and professional settings. By the end of this module, you will have the ability to comprehend key functional relationships, analyse economic issues, and think critically about economic policies.
 

Macroeconomics II

In this module, you will delve deeper into macroeconomic theory and policy by examining national economies and international linkages. You will analyse long and short-run macroeconomic models, fiscal and monetary policies, exchange rate policies, government debt, and currency unions. Through theoretical analysis and examination of recent economic events, you will develop a critical understanding of macroeconomic hypotheses and competing approaches. You will also enhance your problem-solving, critical thinking, and data analysis skills to apply theoretical understanding and empirical knowledge to macroeconomic policy debates.

By completing this module, you will gain critical self-awareness by assessing the impact of macroeconomic shocks and economic policies in determining key economic variables. The carefully curated learning framework will enhance problem-solving and critical thinking skills, as well as the ability to work independently and as part of a team.
 

Exploring and Enhancing Employability

This module will help you develop the knowledge, skills and attitudes you’ll need for making your career decisions and managing your future career development. You’ll also cover

• transitions into graduate employment
• self-employment 
• further study 
• professional training courses 

in the UK or overseas. 

You’ll be supported to take an informed and critical view of the world of work and think about your future role and responsibilities, not only to yourself but also to others. You’ll also learn about the University Careers Service and OBBS WAVES team. You’ll have the opportunity to go into placements, internships, volunteering and other extracurricular activities offered by the University.
 

Applied Econometrics*

This module provides an introduction to the interpretation and analysis of economic data through the application of appropriate statistical and econometric methodologies. You will gain practice in applying theory and develop your skills of statistical and econometric analysis through the completion of problem sets. Practising quantitative techniques in seminars is essential in helping you to identify your learning needs and to encourage you to become critically self-aware of your relative strengths and weaknesses in relation to the acquisition of quantitative skills, a fundamental attribute of graduates in economics and finance.

On completion of the module you will have an understanding of hypothesis testing and statistical inference; the ability to conduct essential statistical analyses of data; and an understanding of regression analyses.

You have the option to take this compulsory module or the compulsory module History of Economic Thought*

History of Economic Thought*

This module provides an introduction to the historical development of economic ideas. In so doing it is designed to illuminate both the influence of such ideas within a variety of social and political contexts and against the background of debates in economic policy. It aims to demonstrate the variety of approaches which can be taken to the study of economic phenomena and the traditions to which they give rise.

Upon successful completion of this module, you will be able to appreciate the relationship between developments in economic thought and within general society, critically evaluate the ideas of economic thinkers and appreciate the diversity of paradigms which have influenced the development of economic doctrine over time.

You have the option to take this compulsory module or the compulsory module Applied Econometrics*
 

Economics of Enterprise and Innovation

Discover the link between innovation and economic growth, as innovation is the key driver for economic growth in both developed and developing economies.

You will learn about innovation's economic policy role, in particular, intellectual property rights (e.g. patents and trademarks). That ensures that innovators receive a fair share of their economic efforts which spur further investments towards this direction. Also you’ll discuss the value of customers’ data, data Intellectual Property, and the role of governments to regulate policies and standards so that new technologies can reach into the market, improving efficiency and allowing a fair competition.
 

International Trade

You’ll be introduced to international trade and economic integration. And you’ll use partial equilibrium tools of economic analyses to analyse trade policy options and assess the welfare implications of these policies. Throughout this module, you’ll also explore the institutional arrangements of various trading blocks through reviewing multilateral and global institutions. 

Upon successful completion of this module, you’ll  be able to understand the economic rationale of international trade, and the stages of economic integration, including their relevance to international negotiations. You’ll also gain problem-solving and IT skills.

Placement Search and Preparation (only compulsory for who will take the optional Year 3 work placement)

This module is designed to provide practical guidance and support in undertaking a placement search, preparing for the placement experience, and succeeding in the modern workplace. Throughout the module, you will develop critical self-awareness and personal literacy skills, enabling you to self-reflect on your own strengths and weaknesses and target your placement search effectively. Additionally, you will also explore methods of effective and targeted placement search, increasing your chances of securing a placement.
 
In summary, this module is an essential component of your employability journey. By integrating with co-curricular activities, the module provides a holistic approach to employability, ensuring that students have a broad range of skills and experiences to draw upon in their future careers.
 

Choose 2 Optional modules from those below:

International Finance

You’ll study the main forces that are shaping the international financial environment. You’ll also look at the techniques and strategies used by organisations to respond to the international financial environment when making key financial decisions. 

You’ll look at:

• capital flows
• exchange rate determination
• risk management in an international context
• international investment decisions and 
• the financing of international activities.

To develop your understanding of global finance and give you insight into global financial decisions that are made in today’s world.
 

Creativity and Innovation

You’ll gain the underpinning theory, concepts and also some basic skills to understand and engage in the processes of creativity and innovation. You’ll take a holistic approach to look at this subject from a variety of angles. This could be from an

• academic perspective
• an organisational perspective
• a management consultancy perspective
• an entrepreneurial perspective. 

You’ll also have the opportunity and be supported to release and express more of your own creative potential. You’ll explore why creativity and innovation is increasingly being viewed as the key to competitive advantage in the New Economy.
 

International Labour Markets

This module examines the diversity of national policy approaches to labour market and social issues. You’ll undertake a comparative economic analysis of the behaviour of employers and employees operating in the global marketplace. Using a common framework of the economic theory of labour markets, you’ll also critically evaluate how governments, economic, social and other institutions alter outcomes in labour markets. 
By completing this module, you’ll be able to present a range of international labour market data, defend appropriate policy proposals and solutions to labour market issues, and recognise the implications for analysis of various social and cultural phenomena. 
 

Financial Markets and Institutions

On this module, you’ll examine the nature of financial markets and the role of financial intermediaries. You’ll analyse the nature of market efficiency, and the extent to which asset prices reflect rational decisions in consideration of psychological or speculative factors. You’ll also explore comparative merits and the question of financial regulation. Different types of financial instruments and their valuation will also be explored.

Upon successful completion of this module, you’ll be able to assess institution-based and market-based finance in a variety of contexts, understand the main principles underlying asset pricing models, and resolve general problems in selecting investments in a global market. 
 

Global Literature and the Climate Emergency

The module will explore the capacity of different literary forms, to represent, explore and address climate change and the ‘slow violence’ of the environmental crisis and examine representations of climate, biodiversity and environmental crises across a range of periods, genres, and geographies. We will compare texts by writers of different ethnicities from multiple regions. Reading these texts, we will concentrate on certain key questions, such as:

• What capacity do literary texts have to imagine alternative futures or relations to nature?
• How might narratives help provide a framework for how we think about real-world environmental issues?
• How does literature represent and critique relationships between species, races, classes, and genders with the climate crises and their consequences?
• In what way are social and environmental justice intertwined?
   

Optional Work Placement Year (includes a Placement Search and Preparation module in your second year)

You can spend your third year on a work placement, which is a great opportunity to enhance your CV, preparing you for future employment. You will gain commercial and practical experience, and many students are offered graduate positions by their placement employer. Students from Accounting and Economics have enjoyed exciting and intellectually challenging positions at organisations such as Deloitte, EY, GT, Metro Bank, Investec Bank, Marriott Hotels, Chelsea Football Club, Apple and Bosch. During your placement there is a fee which is paid to the university. It covers the cost of your placement tutor, and the support we provide whilst looking for a placement position and during your placement role. Whilst on your placement you will still be classed as a student. You will be paid a financially sustainable salary which will vary depending on your role, company and location. Learn more about how Oxford Brookes Business School supports students secure a work placement.

Perspectives on Global Challenges

This module is your advanced introduction to pluralism and competing paradigms in economics, finance and international business. You will investigate contemporary topics by using theoretical and empirical tools in economics and finance where you’ll employ orthodox and non orthodox approaches. 

Through the module you’ll develop a deep understanding of key global trends and outcomes that are relevant to the world of international business. Also you will progress your analytical investigation skills in the sphere of global economics.
 

Contemporary Issues in Economics

This module adopts a political economy approach and focuses on selected controversial economic issues such as economic growth, inequality, pricing mechanism and resource allocation, unemployment, economics of information, and mechanism designs, and so on. It examines each issue by comparing and contrasting the philosophy and methods of the neo-classical approach with alternative approaches.
 

Open Data and Distributed Finance

Develop a sound understanding of the concepts, tools and practical experience of using new data technologies to disintermediate and promote innovation and competition across financial services. 

You will learn, through case analysis, about the supporting technologies and how these allow a supporting ‘ecoSystem’ of third parties to compete in providing financial services. Also you’ll examine the challenge posed for incumbents competing against challengers and maintaining and innovating bank’s own systems; and the associated public policy issues concerning financial, privacy and competition regulation, building your applicable knowledge of open data and distributed finance.

Economic Policy

This module focuses on selected important economic policy issues and relevant economic tools of analysis, with a balance between macro- and microeconomics. You will develop key skills and knowledge in the economics of public policy, which are a necessary requirement for a career as an academic economist or as an analyst in a wide range of national and international policy-making institutions.
 

Placement Learning (Only compulsory for Sandwich Mode)

In this module, you'll have the opportunity to reflect critically on your competencies and develop strategies to enhance your personal and professional development through your work experience. You'll also develop critical self-reflection as a tool for personal and professional growth, while evaluating the contribution of your job role to the success of the organisation. Through work-based learning, you'll develop a range of personal competencies, evidence your progress, and apply theory to practise in assessing organisational practice and individual contribution. Additionally, you'll gain a deep understanding of the functioning of your employing organisation, including its structure, culture, and strategy.

By the end of the module, you'll be equipped with the skills and knowledge necessary to critically reflect on your own personal and professional development needs, progress, and contributions to organisational success.

Choose 2 optional modules from those below if you have completed a placement year / Choose 3 optional modules from those below if you have not completed a placement year:

Environmental Economics

On this module, you build your understanding of modelling techniques and analytical tools of environmental economics. You will be able to critically analyse a range of environmental issues which impact environmental externalities on economic agents and the range of policy responses available to policymakers.

Economic Growth

This module uses economic theory to analyse the structure and forces behind economic growth and development. You will learn standard theory of economic growth and use those theories to analyse the process of economic growth across countries. You will familiarise yourself with a set of important issues that are central to macroeconomics; develop some dynamic economics knowledge useful in macroeconomics as well as in a number of other sub-disciplines. By the end of the module you will gain  tools to analyse the economy with a long-run perspective that is normally overlooked in the other macroeconomic modules.

Behavioural Economics

Build your understanding of the concept called 'homo economicus' where individuals are considered to be perfectly rational and concerned only about maximising their own welfare. Your understanding of strategic behaviour in encounters with other individuals, modelled as games will broaden. You’ll examine concepts such as: 

• bounded rationality
• cognitive bias
• market design
• equilibrium selection
• and policies in detail.

By the end of the module you’ll have a critical understanding of the new stream of thinking that has developed within economics in the last few decades. You’ll have knowledge of what allows people to make mistakes in decision-making and be altruistic – i.e. care about others’ utility as well as their own.
 

Advanced Applied Econometrics

Further and broaden your knowledge of econometrics. You’ll progress and develop your econometric skills that are needed to be able to successfully investigate economic and financial relationships by using appropriate econometric methodologies. You’ll study examples based on both economic and financial data that illustrate the application of the methodologies you’ll learn to use.

Finance and Development

Throughout this module, you’ll explore the economic challenges of financing development in developing countries, while using internal and external sources of finance. You’ll investigate the difference between development and growth, the roles of public and private sector, financial dualism, credit market failures, micro finance and international capital flows. 

Upon successful completion of this module, you’ll be able to interpret the implications of international financial flows on development, and you’ll gain an understanding of how a viable financial system can assist in economic growth and development.
 

Social Enterprise and Social Innovation

The module covers a multi-disciplinary approach to contemporary issues in entrepreneurship allowing you to develop a well-rounded skill set. Throughout the module, you will learn from experts in the field and gain practical insights into entrepreneurship. You will have the opportunity to engage in practical learning, including research and working within a community of like-minded individuals, enhancing your personal and professional growth. Moreover, emphasis is placed on interaction within a research community, providing you with valuable teamwork and communication skills.

Overall, this module offers you a unique learning experience that combines academic rigour with practical insights, giving you a competitive edge in the job market while developing essential research and self-development skills.
 

Sustainable Investing

You will develop your critical and practical understanding of creating and analysing a sustainable investment portfolio. You’ll have access to our Bloomberg virtual trading terminals to develop your practical skills. You’ll also construct an investment portfolio aligned to sustainable investing principles. 

This will include focusing on practical aspects of portfolio management, including establishing key performance metrics, risk measurement and fundamental analysis.
 

Contemporary Issues in Finance

This module provides an opportunity for students to investigate the forces shaping the contemporary financial system. A variety of issues will be examined, taking the financial turmoil of 2007-2008 as a starting point. The emphasis will be on both the underlying causes of recent financial developments and the more general implications of these for our understanding of finance and on the possibilities open to regulatory authorities, companies, investors and other interested groups to respond to these developments.