ACADEMIC POLICY & QUALITY OFFICE PROGRAMME SPECIFICATION for the award of BSc (Honours) Economics Managed by Oxford Brookes Business School Date approved: February 2017 (programme first validated in June 2015) Applies to students commencing study in: September 2018, January 2019 RECORD OF UPDATES Date amended Nature of amendment Reason for amendment 05/02/2018 Addition of U52047 / ECON- 5015 as compulsory Template updated May 2016
SECTION 1: GENERAL INFORMATION Awarding body: Oxford Brookes University Teaching institution and location: Language of study: Final award: Programme title: Interim exit awards and award titles available: Oxford Brookes University, Oxford English BSc (Honours) Economics Degree without Honours BSCO-KE Named Diploma in Higher Education DHEN-KE Diploma of Higher Education (unnamed) Certificate of Higher Education Brookes course code: BSCH-KE UCAS code: To be confirmed JACS code: L100 HECoS code: See guidance note G2.2, section 1 Mode of delivery: Full-time (face to face/on-campus) Part-time (face to face/on-campus) *Sandwich mode (full-time) the placement takes place in the third year of a four year course *Sandwich mode (part-time) the placement takes place at the equivalent of the third year for a full-time student. Mode/s and duration of study: QAA subject benchmark statement/s which apply to the programme: Professional accreditation attached to the programme: University Regulations: 3 Years for full time 4 years for sandwich mode (full time) Maximum duration is 8 years Honours degree subject benchmark statement for Economics, published by the Quality Assurance Agency for Higher Education (QAA) (2015) Not applicable The programme conforms to the University Regulations for the year of entry as published/archived at: http://www.brookes.ac.uk/regulations/ Template updated May 2016 2
SECTION 2: WHY STUDY THIS PROGRAMME? Rationale for and/or Distinctive features of the programme This programme is designed to provide students with training in economics, by combining a number of core modules in microeconomics, macroeconomics and quantitative modules, with optional modules that provide students with the opportunity to study important recent developments in the subject. The degree will provide students with the skills necessary to understand contemporary economic developments and to set these in the context of theoretical debates and past experience. It will enable students to obtain the knowledge required to enter careers in economics where they can help shape economic policies or use economics in a range of organisational settings, in the private, public or non-profit sectors. It will also give students the opportunity to develop statistical and mathematical competencies to match the growing demand for such quantitative skills in the field of economics. Staff within the economics team have expertise in a wide range of areas in applied economics, notably environmental economics, development economics and finance and have extensive experience in teaching a variety of techniques used in the analysis of economic data. Aim/s of the programme to provide an intellectually challenging and engaging training in the discipline of economics to enhance students lifelong-learning capabilities and personal development so as to enable them to work with self-direction and originality and to be able to contribute to society at large to prepare students for entering careers as economists, in a wide range of national and international organisations, or for entry to further study and research at postgraduate level SECTION 3: PROGRAMME LEARNING OUTCOMES On successful completion of the programme, graduates will demonstrate the following Brookes Attributes: 3.1 ACADEMIC LITERACY 1. Demonstrate understanding of the core of economic principles and economic policy. 2. Apply quantitative and qualitative methodologies to evaluate economic theories, models and behaviour thus providing a framework for understanding and evaluation of economic arguments (also Research Literacy). 3. Develop problem solving skills in economics through practice in identifying the main features of a given problem and in devising strategies for its resolution (also Research Literacy) 3.2 RESEARCH LITERACY 4. Select and critically apply both quantitative and qualitative research methods to the study of economics and use such methods to develop solutions to a wide range of practical problems arising both in the context of markets and countries. 5. Apply the knowledge, understanding and disciplinary skills of economics to the analysis of economic behaviour and the formulation of effective economic policies 6. Use economic reasoning to evaluate the effects of government policies on the economy and to understand and also predict the consequences of alternative policy choices. Template updated May 2016 3
3.3 CRITICAL SELF-AWARENESS AND PERSONAL LITERACY 7. Develop skills in self-management through practice in planning and managing their own learning experience 8. Demonstrate an awareness of their own strengths and weaknesses as a learner and be aware of how to improve the effectiveness of different learning strategies. 9. Work creatively and productively in different kinds of teams (formal, informal, project-based, committee based etc.) (also Active Citizenship) 3.4 DIGITAL AND INFORMATION LITERACY 10. Evaluate economic theories and interpret economic behaviour through the quantitative or qualitative analysis of empirical data (also Academic Literacy) 11. Select and be able to use appropriate information technology to solve a range of economic problems. 12. Express ideas and opinions, with confidence and clarity, to a variety of audiences for a variety of purposes (also Active Citizenship) 3.5 ACTIVE CITIZENSHIP 13. Understand how economic decision making is affected by cultural and social contexts at both an international and national level 14. Recognise the context and limitations of the prevailing paradigms in economic theory and the implications of these (also Academic Literacy) Template updated May 2016 4
SECTION 4: CURRICULUM CONTENT & STRUCTURE 4.1 PROGRAMME STRUCTURE AND REQUIREMENTS: Code Module Title Credits Level Status : Exam ratio U52001 / ECON-4001 U52002 / ECON-4002 U52007 / ECON-4004 U52009 / ECON-4005 Macroeconomics 1 15 4 Compulsory 50% CW Microeconomics 1 15 4 Compulsory 50% CW Mathematics for Economics and Finance Economics and Society in Context 15 4 Compulsory 30% CW 70% Written 15 4 Compulsory CW U50003 / ACFI-4001 U50007 / ACFI-4004 U50013 / ACFI-4006 U58005 / BMGT-4008 Essential Information Skills 15 4 Recommended 20% CW 80% Written 15 4 Recommended 60% CW 40% Written 15 4 Recommended CW Accounting and Financial Information Raising Individual Financial Awareness The Entrepreneur 15 4 Recommended CW U58009 / BMGT-4010 Work, Employment and Globalisation 15 4 Recommended CW U52031 / ECON-5006 U52032 / ECON-5007 U52030 / ECON-5005 U52046 / ECON-5012 U52047 / ECON-5015 Macroeconomics 2 15 5 Compulsory 50% CW Microeconomics 2 15 5 Compulsory 50% CW Introduction to Econometrics Research Methods in Economics Skills and Knowledge for Graduate Economists 15 5 Compulsory 10% CW 90% Written 15 5 Compulsory CW 15 5 Compulsory CW U58038 / BMGT-5038 U58065 / BMGT-5027 Placement Search and Preparation 15 5 Compulsory (for sandwich mode) Placement 15 5 Compulsory (for sandwich mode) CW CW Template updated May 2016 5
U50033 / ACFI-5007 U52022 / ECON-5001 U52025 / ECON-5002 U52026 / ECON-5003 U52042 / ECON-5008 U52043 / ECON-5009 U52044 / ECON-5010 U52045 / ECON-5011 U58038 / BMGT-5038 U58065 / BMGT-5027 U52070 / ECON-6001 U52071 / ECON-6002 U52072 / ECON-6003 U52073 / ECON-6004 U52076 / ECON-6006 U52077 / ECON-6007 U52079 / ECON-6009 U52080 / ECON-6010 U52082 / ECON-6012 U58088 BMGT-6020 Corporate Finance 15 5 Acceptable Written International Finance 15 5 Acceptable Written Financial Markets and 15 5 Acceptable 20% CW Institutions 80% Written International Labour Markets Statistics for Economics and Finance 15 5 Acceptable 50% CW 15 5 Acceptable 50% CW International Trade 15 5 Acceptable Written Exam History of Economic 15 5 Acceptable 50% CW Thought Applied Game Theory 15 5 Acceptable Written Exam Placement Search and 0 5 Acceptable CW Preparation Placement 15 5 Acceptable CW Contemporary Issues in Economics 15 6 Acceptable CW Econometrics 15 6 Acceptable 50% CW Environmental 15 6 Acceptable 50% CW Economics Finance and 15 6 Acceptable CW Development Economic Growth 15 6 Acceptable CW Industrial Organisation 15 6 Acceptable 30% CW 70% Written Applied Econometrics 15 6 Acceptable CW Contemporary Issues in Finance 15 6 Acceptable CW Economic Policy 15 6 Acceptable Written Independent Study 15 6 Acceptable CW One module from: U52074 / Synoptic for Economics 30 6 Alternative 50% CW Template updated May 2016 6
ECON-6005 Compulsory U52094 / ECON-6014 Economics Dissertation 30 6 Alternative Compulsory CW No more than 2 credits from U08603 / MATH-4003 U08609 / MATH-4005 Algebra and Calculus 30 4 Alternative Acceptable 30% CW 70% Written Introductory Mathematics 15 4 Alternative Acceptable 20% CW 80% Written Language Modules: No more than 2 credits from U61512 / FREN-4004 U61513 / FREN-4005 U61536 / FREN-5002 U61537 / FREN-5003 U62012 / GERM-4004 U62013 / GERM-4005 U62720 / CHIN-5001 U62721 / CHIN-5002 U63012 / JPNS-4006 U63013 / JPNS-4007 U63512 / SPAN-4004 U63513 / SPAN-4005 U63536 / SPAN-5004 U63537 / SPAN-5005 U70923 / INSE-5005 U70924 / INSE-5006 French B1 (1) 15 4 Alternative French B1 (2) 15 4 Alternative French B2 (1) 15 5 Alternative French B2 (2) 15 5 Alternative German B1 (1) 15 4 Alternative German B1 (2) 15 4 Alternative Mandarin Chinese 2A 15 5 Alternative Mandarin Chinese 2B 15 5 Alternative Japanese 2A 15 4 Alternative Japanese 2B 15 4 Alternative Spanish B1 (1) 15 4 Alternative Spanish B1 (2) 15 4 Alternative Spanish B2(1) 15 5 Alternative Spanish B2 (2) 15 5 Alternative Academic English for Business Purposes Higher Academic English Skills 15 5 Alternative 15 5 Alternative 60% 50% 60% 70% 30% Written 60% 60% 60% 60% Template updated May 2016 7
4.2 PROGRESSION AND AWARD REQUIREMENTS Compulsory for Honours Degree U52030 / ECON-5005 Introduction to Econometrics U52031 / ECON-5006 Macroeconomics 2 U52032 / ECON-5007 Microeconomics 2 U52046 / ECON-5012 Research Methods in Economics Compulsory for Degree U52030 / ECON-5005 Introduction to Econometrics U52031 / ECON-5006 Macroeconomics 2 U52032 / ECON-5007 Microeconomics 2 Alternative Compulsory for Named Dip HE: 2 modules from: U52022 / ECON-5001 International Finance U52025 /ECON-5002 Financial Markets & Institutions U52026 / ECON-5003 International Labour Markets U52030 / ECON-5005 Introduction to Econometrics U52043 / ECON-5009International Trade 1 module from U52031 / ECON-5006 Macroeconomics 2 U52032 / ECON-5007 Microeconomics 2 4.3 PROFESSIONAL REQUIREMENTS Not applicable. SECTION 5: TEACHING AND ASSESSMENT 5.1 Teaching, Learning and Assessment Academic literacy requires students to have a firm grasp of the theories and methods that form the fundamental toolbox of economic enquiry and is the focus of Level 4 modules such as Microeconomics 1, Macroeconomics 1 and Mathematics for Economics and Finance. Key to the learning experience in these modules is the weekly in-class practice of problem-solving exercises. The new Economics & Society in Context module seeks to broaden the curriculum in a way that takes students beyond the textbook and emphasises the applied nature of economics and its role in everyday life (Active Citizenship). It also cultivates Critical Self-awareness and :Personal Literacy, as students reflect on what it means to be a professional economist. Development continues at Level 5 in Microeconomics 2 and Macroeconomics 2, with increasing emphasis on encouraging recognition of the limitations of different theoretical perspectives and on developing an appreciation of alternative approaches to modelling economic problems. Also, the module Introduction to Econometrics improves quantitative skills by combining economic theories and empirical data-processing methodologies in order to equip students with the practical abilities to address quantitative-related issues in economics. The module Statistics for Economics & Finance enhances the above skills by focusing on skills of information sourcing, data selection and presentation. Both of these modules develop the Brookes Attribute of Digital and Information Literacy. Research Methods in Economics prepares students for dissertation or independent study work in economics-related topics, developing their Research Literacy, and improving their criticality and problem-solving skills. Two finance-focused elective modules, Corporate Finance and Financial Markets and Institutions, give students opportunities to broaden their views into the area of finance by developing economic concepts and theories. Template updated May 2016 8
At level 6 a year-long double-module, Economics Dissertation, requires students to combine all relevant knowledge and skills to pursue an individual research project under the supervision of research staff, enabling them to demonstrate a high level of Research Literacy. Alternatively, students can choose another double-module, the Synoptic for Economics, which is a capstone module that allows the application of economic knowledge and skills to several policy and other practical issues based on a significant element of self-reflection on the learning process. There is also a range of optional level six modules which allow students to develop their skills in critical research and practical application of economic theory. For example the module Applied Econometrics enables students to analyse economic data by successfully applying a variety of econometric methodologies that are likely to be used by practising economists; while the module Contemporary Issues in Economics and Finance enables demonstration of Academic Literacy through encouraging the application of relevant theories to practical problems of the international economic and financial system. Internationalisation of the curriculum enables the attribute of Active Citizenship to be developed progressively across successive years of the programme. Appreciation of cross-cultural understanding begins with Level 4 optional language modules. It is then further embedded in the international Level 5 elective modules, for example by looking at differences between the cultures of various national labour markets and financial systems. A major focus of International Labour Markets is developing awareness of issues relating to inequality and discrimination. International Finance examines the effects of the flow of capital through foreign exchange markets and how governments and firms minimise related risks. International Trade investigates the role of trade in aiding growth and development and the responses by states and businesses. The majority of staff contributing to the programme are research active and their work is actively integrated within a number of modules. A few examples of this are the following. Research by the module leader of Synoptic for Economics concerns the current global economic crisis, the rise of the BRICS economies and the vision of eco-socialism and is used in the framing of taught topics, developing the essay assignment topic and recommending readings for the taught topics and the essay assignment. The Environmental Economics module, draws on the research interests of the module leader, and as such the assignment spans topics such as the UK Landfill Tax and End of Waste status, which are current DEFRA initiatives on waste. Research by the module leader of Financial Markets and Institutions, on empirical evidence in finance markets, especially testing market efficiency supports teaching on the module through various ways including informative teaching materials, assignment topics related to practices in the market and comprehensive readings. Learning is further enhanced through exposure to a diversity of teaching methods including traditional lectures, seminars and workshops. Students participate in activities such as group presentations, roleplays, analyses of numerical data, discussions of topical material (for example newspaper articles, videos and web-sites), and computer-based simulations. To encourage independent learning, face-toface learning is supplemented by a range of activities undertaken outside class with emphasis on the use of e-learning, self-study quizzes and diagnostic assessments. Participation in online discussion groups and work in groups to prepare wikis and websites are a fundamental part of the assessment process. In line with the Brookes Assessment Compact, the assessment process is seen as a fundamental tool of the learning process and learning outcomes are achieved through allowing students to engage with a variety of activities including the construction of case studies, group presentations, written reports, self and peer assessment as well as through the use of media such as websites and videos. Face-to-face feedback is a feature of a number of compulsory modules. Modules are usually either assessed by examination, by coursework or by a 50%/50% combination of examination and coursework. The choice between these modes of assessment is guided by the nature of the subject matter in the module and the module learning outcomes and is explained in the module descriptor for each module. In general examinations allow for breadth in the assessment process and require students to understand the links between different aspects of the study of a particular area within the subject while coursework allows for the examination of individual topics in depth. Each module involves 150 hours of study time (300 for a double module). Study time consists of time in formal classroom activities (lectures, seminars etc.) and for most modules this consists of 12 two hour weekly blocks (24 hours per single module). Thus, self-study (preparing for seminars, undertaking Template updated May 2016 9
research for coursework and meeting to collaborate on group work etc.) takes up the majority of the time devoted to the module (126 hours). Assessment regulations The programme conforms to the University s Academic Regulations; section B2 Undergraduate Modular Programme Regulations http://www.brookes.ac.uk/regulations/current/specific/b2/ The Programme also embeds the principles and practices within the Brookes Assessment Compact. Assessments are carefully designed to contribute to formative developmental feedback and can incorporate peer feedback as well. All module guides include specific assessment criteria which are clearly communicated and an assessment calendar is also produced. https://www.brookes.ac.uk/services/ocsld/resources/assessment/assessment_compact_09.pdf SECTION 6: ADMISSION TO THE PROGRAMME 6.1 ENTRY REQUIREMENTS Entry criteria Please see the University's general entry requirements Information regarding typical offers is available via the course entry in the University s on-line prospectus. The programme welcomes for consideration applications from applicants with non-standard qualifications. The following specific entry requirements apply to this course: GCSE: Mathematics (grade B or above), English (grade C or above), or equivalent qualifications English language requirements: Please see the University's standard English language requirements 6.2 DBS AND OTHER PRE-COURSE CHECKS REQUIRED Not applicable. SECTION 7: PREPARATION FOR EMPLOYMENT Placement The Work and Voluntary Experience Service (WAVES) supports sandwich-mode students in applying for and securing a work-placement. During the placement year itself students are supported by an assigned placement tutor who remains in regular contact with the student and their line manager and conducts at least one meeting at the student s place of work, WAVES also supports students in identifying volunteering or internship opportunities. Careers Centre The University Careers Service offers guidance on career planning as well as practical advice on CV writing, mock interviews and assessment centres, tutorials and careers counselling. Its online vacancies database Talent Bank details internship and graduate job opportunities plus volunteering and project work. The knowledge and skills gained by Economics graduates equip them for a wide range of careers, notably working as economists in the public and private sector, working for economic institutions and organisations using their more specialised knowledge. The programme is explicitly focused around developing the skills to work in national and international organisations. Economics graduates are also well suited for work in the third sector of not-for-profit and voluntary organisations and in NGOs. Template updated May 2016 10
The degree is further designed to provide a good basis for postgraduate study in the area of economics. Visiting speakers from a range of organisations contribute to the programme. Links with organisations such as the Government Economic Service are actively maintained to ensure students are aware of opportunities for summer internships. The programme team has many links to employers such as Oxford Economic Forecasting, HM Treasury, IBM and Disney through the work placement scheme. Students are strongly encouraged to undertake a third-year placement and to register with the Placements Office for advice on obtaining internships. Template updated May 2016 11