Economics
BSc (Hons)

About this course

About

This course offers you the opportunity to study the many different ways in which society distributes scarce resources such as land, labour, raw materials, and machinery to produce goods and services.

There are two subdivisions within Economics - Microeconomics involves the study of the supply and demand decisions of individuals and organisations, such as how profits can be maximised and how much of a good or service consumers will demand at a certain price. Macroeconomics deals with the study of outcomes in the whole economy concerned with issues such as unemployment, inflation, economic growth, productivity, and investment.

Economics relies upon analytical and quantitative techniques to verify or reject theories about such behaviour. One of the most frequently used techniques is Econometrics, where statistical techniques are used to formulate models, estimate economic relationships and to develop forecasts.

As well as the core aspects, Economics can also be applied to a variety of areas and these are reflected in the range of topics that you will have the opportunity to study during the programme.

Associate awards

Diploma in Professional Practice DPP

Diploma in International Academic Studies DIAS

Diploma in Professional Practice International DPPI

Attendance

Class are timetabled per semester for full-time students.

Three years full-time – BSc Hons.

Four years full-time – BSc Hons with DPP / DIAS.

Start dates

• September 2022

Teaching, Learning and Assessment

The main learning and teaching methods used on this programme are lectures (including guest speakers), seminars, workshops, directed reading and independent learning, all supported with IT based resources.

Each module adopts a unique assessment strategy and this may include; computer-based
exercises, class tests, essays, oral presentations (individual and group), case studies, "live projects", debates, infographics, eportfolios, reflective diaries, innovative action planning and end of semester examinations.

Content

The content for each course is summarised on the relevant course page, along with an overview of the modules that make up the course.

Each course is approved by the University and meets the expectations of:

• the relevant generic national Qualification Descriptor
• the applicable Subject Benchmark Statement
• the requirements of any professional, regulatory, statutory and accrediting bodies.

Attendance and Independent Study

As part of your course induction, you will be provided with details of the organisation and management of the course, including attendance and assessment requirements - usually in the form of a timetable. For full-time courses, the precise timetable for each semester is not confirmed until close to the start date and may be subject to some change in the early weeks as all courses settle into their planned patterns. For part-time courses which require attendance on particular days and times, an expectation of the days and periods of attendance will be included in the letter of offer. A course handbook is also made available.

Courses comprise modules for which the notional effort involved is indicated by its credit rating. Each credit point represents 10 hours of student effort. Undergraduate courses typically contain 10- or 20-credit modules (more usually 20) and postgraduate course typically 15- or 30-credit modules.

The normal study load expectation for an undergraduate full-time course of study in the standard academic year is 120 credit points. This amounts to around 36-42 hours of expected teaching and learning per week, inclusive of attendance requirements for lectures, seminars, tutorials, practical work, fieldwork or other scheduled classes, private study, and assessment. Part-time study load is the same as full-time pro-rata, with each credit point representing 10 hours of student effort.

Postgraduate Master’s courses typically comprise 180 credits, taken in three semesters when studied full-time. A Postgraduate Certificate (PGCert) comprises 60 credits and can usually be completed on a part-time basis in one year. A 120-credit Postgraduate Diploma (PGDip) can usually be completed on a part-time basis in two years.

Class contact times vary by course and type of module. Typically, for a module predominantly delivered through lectures you can expect at least 3 contact hours per week (lectures/seminars/tutorials). Laboratory classes often require a greater intensity of attendance in blocks. Some modules may combine lecture and laboratory. The precise model will depend on the course you apply for and may be subject to change from year to year for quality or enhancement reasons. Prospective students will be consulted about any significant changes.

Assessment

Assessment methods vary and are defined explicitly in each module. Assessment can be a combination of examination and coursework but may also be only one of these methods. Assessment is designed to assess your achievement of the module’s stated learning outcomes. You can expect to receive timely feedback on all coursework assessment. The precise assessment will depend on the module and may be subject to change from year to year for quality or enhancement reasons. You will be consulted about any significant changes.

Coursework can take many forms, for example: essay, report, seminar paper, test, presentation, dissertation, design, artefacts, portfolio, journal, group work. The precise form and combination of assessment will depend on the course you apply for and the module. Details will be made available in advance through induction, the course handbook, the module specification and the assessment timetable. The details are subject to change from year to year for quality or enhancement reasons. You will be consulted about any significant changes.

Normally, a module will have 4 learning outcomes, and no more than 2 items of assessment. An item of assessment can comprise more than one task. The notional workload and the equivalence across types of assessment is standardised.

Calculation of the Final Award

The class of Honours awarded in Bachelor’s degrees is usually determined by calculation of an aggregate mark based on performance across the modules at Levels 5 and 6, (which correspond to the second and third year of full-time attendance).

Level 6 modules contribute 70% of the aggregate mark and Level 5 contributes 30% to the calculation of the class of the award. Classification of integrated Master’s degrees with Honours include a Level 7 component. The calculation in this case is: 50% Level 7, 30% Level 6, 20% Level 5. At least half the Level 5 modules must be studied at the University for Level 5 to be included in the calculation of the class.

All other qualifications have an overall grade determined by results in modules from the final level of study. In Master’s degrees of more than 200 credit points the final 120 points usually determine the overall grading.

Academic profile

Over 80% of teaching staff hold Fellowship of Advance HE (formely the Higher Education Academy).

The University employs over 1,000 suitably qualified and experienced academic staff - 59% have PhDs in their subject field and many have professional body recognition.

Courses are taught by staff who are Professors (25%), Readers, Senior Lecturers (18%) or Lecturers (57%).

We require most academic staff to be qualified to teach in higher education: 82% hold either Postgraduate Certificates in Higher Education Practice or higher. Most academic staff (81%) are accredited fellows of the Higher Education Academy (HEA) - the university sector professional body for teaching and learning. Many academic and technical staff hold other professional body designations related to their subject or scholarly practice.

The profiles of many academic staff can be found on the University’s departmental websites and give a detailed insight into the range of staffing and expertise. The precise staffing for a course will depend on the department(s) involved and the availability and management of staff. This is subject to change annually and is confirmed in the timetable issued at the start of the course.

Occasionally, teaching may be supplemented by suitably qualified part-time staff (usually qualified researchers) and specialist guest lecturers. In these cases, all staff are inducted, mostly through our staff development programme ‘First Steps to Teaching’. In some cases, usually for provision in one of our out-centres, Recognised University Teachers are involved, supported by the University in suitable professional development for teaching.

Figures correct for academic year 2019-2020.

Modules

Here is a guide to the subjects studied on this course.

Courses are continually reviewed to take advantage of new teaching approaches and developments in research, industry and the professions. Please be aware that modules may change for your year of entry. The exact modules available and their order may vary depending on course updates, staff availability, timetabling and student demand. Please contact the course team for the most up to date module list.

Year one

Economics in Practice

Year: 1

Status: C

This module is intended to engage students actively and effectively at an early stage in the degree program. The focus of the module is on applying core economic theory to practical and topical issues and on enabling students to develop their ability to think critically - an important characteristic in enhancing employability. The intention is that students become 'positively disruptive' in their thinking and behaviours, and have the digital, written and verbal skills to communicate this in a professional and effective manner.

Microeconomic Principles

Year: 1

Status: C

This module introduces students to key concepts and models used by economists to analyse the microeconomic problems and issues characteristic of contemporary market economies. Emphasis is given to market activity and the consequences this has for different groups within society. The module will allow students to understand the need for government intervention and regulation of market forces within a market economy.

Macroeconomic Principles

Year: 1

Status: C

This module aims to develop students' knowledge and understanding of the macroeconomic environment exploring the origin of macroeconomics critically evaluating competing theories of macroeconomic behaviour. It introduces students to the issues that Macroeconomics deals with such as the role of government in managing the economy.

Mathematics and Statistics for Economics and Business

Year: 1

Status: C

This module introduces students to some basic mathematical and statistical techniques, which can be applied to economic and business problems.

Skills for Economists

Year: 1

Status: C

The aim of this module is to prepare students for life at University and to prepare students for a career as an economist. This module will cover essential skills for university and work, including career options for graduates, writing for university and work, practical research skills and analytical techniques. This module will also introduce students to working with real data to analyse current economic issues. Students will also gain experience working in Microsoft Office packages particularly Excel. The practical nature of this module will form the basis of skills required for study in the second and third years and introduce applied techniques that are essential for a career as a professional economist.

Introduction to Accounting for Business

Status: O

Year: 1

This module is optional

Introduction to Business Accounting provides an introduction to financial and management accounting. The background to the requirement to produce, and the purpose of preparing accounting statements is examined. The module introduces the student to the study of accounting as it impacts on business and economic activity. In particular it considers the preparation of basic financial statements for sole-traders and introduces the student to terminology used in cost determination and pricing.

Financial Institutions and Markets

Status: O

Year: 1

This module is optional

To provide students with an overview of the financial system. It seeks to develop students' understanding of financial markets, institutions and the environment within which they operate.

Year two

Analytical Methods for Economics

Year: 2

Status: C

This module further develops the mathematical and statistical techniques which can be applied to economic and business problems.

Intermediate Microeconomics

Year: 2

Status: C

This module examines the objectives and internal and external environments within which consumers and firms must operate, and studies the principle that economic decisions have to be "optimal". The principal theme of this module is the concept of decision making by market participants and the role of markets in coordinating these decisions resulting in efficient economic outcomes.

Intermediate Macroeconomics

Year: 2

Status: C

This module provides an account of the structure of macroeconomic theory and of how its parts interact. It also reviews some of the thoeretical questions and controversies surrounding this structure. Finally it uses macroeconomic theory to shed light on some real world issues and problems.

Entrepreneurship and Professional Practice

Year: 2

Status: C

This module aims to engage students in their own employability development as well as raising their awareness of innovation and entrepreneurship at work. Students will examine the local, national and global labour market and look at trends to support the development of their own personal strengths and weaknesses. Through research, team-work and presentations, students will engage with local employers and entrepreneurs to audit their personal entrepreneurial potential and better understand their future career path.

History of Economic Thought

Status: O

Year: 2

This module is optional

Many issues in economics can best be placed and understood in the context of the development of economic thought. The module therefore seeks to provide students with a grounding in the works of the key thinkers in economic thought since 1700 including Smith, Ricardo, Marx, Marshall, Keynes and Friedman.

International Economics

Status: O

Year: 2

This module is optional

In the increasingly integrated world economy of the modern times, it is essential that students of business economics should gain an understanding of the basic principles and issues of international economics. This module will seek to provide such an understanding and an appreciation of the major trade-related issues facing both the developed and the developing world. It will also seek to enable students to acquire the skills necessary to analyse real world problems with the help of appropriate analytical tools and a sound theoretical framework. The module will be delivered in both large group and small group sessions and the assessment will be based partly on course work and partly on sessional examination.

Regional Economics: Understanding the Northern Ireland Economy

Status: O

Year: 2

This module is optional

Regional Economics: Understanding the Northern Ireland (NI) economy module gives students the opportunity to understand the workings and the contemporary issues surrounding the NI economy. In addition the module introduces and aids students understanding of the economic policy development/making process. The module will also enhance students understanding about the behaviour and operation of the NI economy and how it impacts upon businesses and society in general.

Industrial Economics - Understanding and Regulating Markets

Status: O

Year: 2

This module is optional

Industrial Economics explores the workings of markets and industries using the techniques of economic analysis, examining some of the aspects that relate to if the state should and how the state may intervene in the operation of those markets.

Principles of Investing

Status: O

Year: 2

This module is optional

This module provides students with the necessary knowledge and skills to understand the relevance & importance of functioning financial markets, develops knowledge of the global financial services industry, financial assets and investment products and to critically evaluate competing and complementary trading and investing styles.

Year three

Diploma in International Academic Studies

Status: O

Year: 3

This module is optional

The Diploma in International Academic Studies provides students with the opportunity of an extended period of study outside UK and Republic of Ireland. Students develop and enhanced understanding of business and management in an international environment.

Diploma in Professional Practice

Status: O

Year: 3

This module is optional

This module provides undergraduate students with an opportunity to gain structured and professional work experience, in a work-based learning environment, as part of their planned programme of study. This experience allows students to develop, refine and reflect on their key personal and professional skills. The placement should significantly support the development of the student's employability skills, preparation for final year and enhance their employability journey.

Year four

Econometric Analysis

Year: 4

Status: C

This module will enable students to apply econometric techniques to analyse economic data.

Issues in Microeconomics

Year: 4

Status: C

This module aims to develop students' knowledge and understanding of applying microeconomics to the analysis of economic issues at an advanced level.

Issues in Macroeconomics

Year: 4

Status: C

The inability of conventional macroeconomic models to explain the events has prompted the revival of the Keynesian view of the world. This module critically evaluates a range of traditional models of macroeconomic behaviour based upon perfectly competitive behaviour in factor and output markets and sets out a range of models based upon imperfectly competitive behaviour that offer a more satisfactory explanation for a set of stylised facts of modern economic outcomes.

Regional Economics: UK Regions and Cities, Theory Policy and Forecasting

Status: O

Year: 4

This module is optional

The Regional Economics module gives students a different spatial perspective on the economic development process. It examines a variety of approaches to modelling regional economics and to measuring the impact of regional policies. This module offers students the opportunity to work with real data to analyse current economic issues. Students will enhance their practical IT skills within the Microsoft Office suite and develop commercially relevant techniques. These skills are in demand and will improve the employability of graduates.

Economics of Globalisation

Status: O

Year: 4

This module is optional

Globalisation is an inescapable part of the economic life of every nation in the modern world. An understanding of the economic principles and the empirical reality of globalization is essential for both being able to make sense of what is happening in the world and for formulating appropriate policy responses to global economic changes. This module focuses on both theory and practice of globalization, and, critically discusses relevant economic principles and policies.

Economics of Governance

Status: O

Year: 4

This module is optional

More often than not individuals have to make decisions and act without full knowledge of the environment where they operate. How this imperfect information affects the motives of sellers and buyers and economic relations more generally, is the subject of the present module. After analyzing basic concepts like property rights, contracts and transaction costs, it examines the sources of asymmetric information and its consequences on behaviour. This is followed by a presentation of the principal - agent relationship and the firm as a hierarchy and an examination of the institutions, incentive contracts and governance structures designed to resolve conflicting interests of the participating economic actors.

Economic Policy

Status: O

Year: 4

This module is optional

This module is designed to develop skills that are in demand from professional economists in both the public and private sectors. It builds upon theoretical knowledge developed in the first 3 years and develops research, analytical, written and presentation skills. A major focus on instilling the disciplines of accuracy and checking into data and written work by emphasising the implications of mistakes and false interpretation. The module aims to increase the employability of students by equipping them with relevant knowledge and skills that are in demand from the marketplace.

Behavioural Finance

Status: O

Year: 4

This module is optional

The module aims to provide students with a knowledge and understanding of theoretical and empirical limitations of traditional finance theory and presents the foundations of behavioural finance. Students will have the opportunity to explore the opportunities for behavioural investing and systematic trading model design and be able to evaluate different trading models.

Standard entry conditions

We recognise a range of qualifications for admission to our courses. In addition to the specific entry conditions for this course you must also meet the University’s General Entrance Requirements.

A level

A level grades BCC if including A level Mathematics or

A level grades BBC if not completing A level Mathematics.

Applied General Qualifications

Overall BTEC Level 3 QCF Extended Diploma with profile DDD in a relevant subject

OR

BTEC Level 3 RQF National Extended Diploma with profile DMM in a relevant subject

You may also meet the course entry requirements with combinations of different qualifications to the same standard (provided subject requirements are met). Examples of combinations include:

A levels with BTEC Level 3 QCF Subsidiary Diploma or BTEC RQF National Extended Certificate.

A level with BTEC Level 3 QCF Diploma or BTEC Level 3 RQF National Diploma.

For further information on the entry requirements for this course please contact the administrator as listed in Contact details.

Irish Leaving Certificate

112 UCAS tariff points to include a minimum of four subjects at Higher level and one subject at Ordinary level. The overall profile must include English at minimum H6 at Higher Level or Grade O4 at Ordinary level plus Maths at H5 at Higher level or O3 at Ordinary Level.

OR

104 UCAS tariff points to include a minimum of four subjects at Higher level and one subject at Ordinary level. The overall profile must include English at minimum Grade H6 at Higher Level or Grade O4 at Ordinary Level. One Higher Level subject must include minimum Grade H4 from Higher Maths.

Irish Leaving Certificate UCAS Equivalency

• View tariff point chart

Tariff point chart

Scottish Highers

The Scottish Highers requirement for this course is BCCCC to include minimum of grade B in Mathematics or grades BBCCC if not undertaking Scottish Highers Mathematics.

Scottish Advanced Highers

The Scottish Advanced Highers requirement for this course is CDD to include a minimum of grade C in Advanced Mathematics or grades CCD if not undertaking Scottish Highers Mathematics.

International Baccalaureate

Overall International Baccalaureate profile minimum 25 points (12 points at higher level).

Access to Higher Education (HE)

Overall Access profile of 63% to include 60% in NICATs Maths or GCSE Maths grade B/C* or 6/5.

GCSE

GCSE Profile to include Maths with a minimum Grade B/C* or 6/5.

GCSE Profile to include English Language with a minimum Grade C/4.

English Language Requirements

English language requirements for international applicants

The minimum requirement for this course is Academic IELTS 6.0 with no band score less than 5.5. Trinity ISE: Pass at level III also meets this requirement for Tier 4 visa purposes.

Ulster recognises a number of other English language tests and comparable IELTS equivalent scores.

• English language requirements
• Your country

Exemptions and transferability

Most students enter Year 1 of the programme. Applicants who can provide evidence of previous relevant study, awarded in accordance with the Credit Accumulation Transfer Scheme (CATS), may be considered for entry into Year 2. In appropriate cases, opportunities exist at the end of Year 1 for reciprocal transfer between this programme and other first-degree programmes in the School.

Careers & opportunities

Graduate employers

Graduates from this course are now working for:

• Citi
• Deloitte
• Northern Ireland Civil Service
• OCO Global - Mintel Ireland
• Oxford Economics
• PWC
• FinTrU

Job roles

With this degree you could become:

• Accountant
• Assistant Economist
• Compliance Officer
• Data Analyst
• Investment Administrator
• Risk Consultant
• Stockbroker

Career options

Graduates from this programme are highly sought after by Government, Industry and Professional Practices. Previous Economics graduates have gone into careers in business, financial and public sectors locally, nationally and throughout Europe. Recent graduates have taken up careers as consultants in accountancy firms, recruitment consultants, economic researchers, assistant economists, stockbroking and financial services.

Work placement / study abroad

The programme has the option for either a work placement or study abroad between the second and final years.

Apply

Applications to full-time undergraduate degrees at Ulster are made through UCAS.

Start dates

• September 2022

Contact

Admissions contact regarding application process:

Karen McCarroll

T: +44 (0)28 9036 8983

E: kl.mccarroll@ulster.ac.uk

Course Director for advice regarding course content:

Dr Mark Bailey

T: +44 (0)28 9036 8254

E: mf.bailey@ulster.ac.uk

For more information visit

• Ulster University Business School
• Department of Accounting, Finance and Economics

Disclaimer

1. The University endeavours to deliver courses and programmes of study in accordance with the description set out in this prospectus. The University’s prospectus is produced at the earliest possible date in order to provide maximum assistance to individuals considering applying for a course of study offered by the University. The University makes every effort to ensure that the information contained in the prospectus is accurate but it is possible that some changes will occur between the date of printing and the start of the academic year to which it relates. Please note that the University’s website is the most up-to-date source of information regarding courses and facilities and we strongly recommend that you always visit the website before making any commitments.
2. Although reasonable steps are taken to provide the programmes and services described, the University cannot guarantee the provision of any course or facility and the University may make variations to the contents or methods of delivery of courses, discontinue, merge or combine courses and introduce new courses if such action is reasonably considered to be necessary by the University. Such circumstances include (but are not limited to) industrial action, lack of demand, departure of key staff, changes in legislation or government policy including changes, if any, resulting from the UK departing the European Union, withdrawal or reduction of funding or other circumstances beyond the University’s reasonable control.
3. If the University discontinues any courses, it will use its best endeavours to provide a suitable alternative course. In addition, courses may change during the course of study and in such circumstances the University will normally undertake a consultation process prior to any such changes being introduced and seek to ensure that no student is unreasonably prejudiced as a consequence of any such change.
4. The University does not accept responsibility (other than through the negligence of the University, its staff or agents), for the consequences of any modification or cancellation of any course, or part of a course, offered by the University but will take into consideration the effects on individual students and seek to minimise the impact of such effects where reasonably practicable.
5. The University cannot accept any liability for disruption to its provision of educational or other services caused by circumstances beyond its control, but the University will take all reasonable steps to minimise the resultant disruption to such services.