Economics and Philosophy BA

   
   
  

Fact file - 2017 entry

UCAS code:LV15
Qualification:BA Hons
Type and duration:3 year UG
Qualification name:Economics and Philosophy
UCAS code
UCAS code
LV15
Qualification
Economics and Philosophy | BA Hons
Duration
3 years full-time
A level offer
A*AA-AAA not including general studies (A*ABB for those taking four full A levels and completing them in the same year)
Required subjects
A in maths at GCSE , unless taking it at AS/A level
IB score
36
Course location
University Park Campus 
Course places
10
School/department
 

Overview

Combining two distinct disciplines, this joint honours course develops students' understanding of how societies work and equips graduates with a unique blend of knowledge.
Read full overview

This course is taught by the School of Economics and the Department of Philosophy. This joint honours degree offers you the opportunity to develop your understanding of these two distinct, yet related, disciplines. Both economics and philosophy look at fundamental aspects of human society. The combination allows a deeper understanding of how societies work and the course will provide a unique blend of knowledge from the two disciplines.

Year one 

In economics, you will typically take Foundations of Macroeconomics, Foundations of Microeconomics, and a Writing Economics module to ensure that your transition from school or college to university is smooth. In philosophy, you will take modules such as Appearance and Reality, Elementary Logic, and Introduction to Ethics.

Year two

In economics, you will typically take Principles of Macroeconomics and Principles of Microeconomics, as well as optional modules. In philosophy, you will be able to choose from a wide range of modules, typically including Contemporary Metaethics, The Nature of Meaning, and Social Philosophy.

You can also apply to spend one semester of your second year studying abroad, studying similar modules to your counterparts back in Nottingham.

Year three

In your final year you will select modules from a variety of specialist subjects offered by the two departments - 60 credits from economics and 60 credits from philosophy, with the possibility of a dissertation in philosophy.

 

Entry requirements

A levels: A*AA-AAA not including general studies (A*ABB for those taking four full A levels and completing them in the same year)

GCSEs: An A in GCSE maths is the absolute minimum requirement for all economics courses unless you are taking AS or A level maths

English language requirements 

If you have not studied using the medium of English for your entire secondary education or do not have GCSE English or equivalent at grade B or above you will be asked to achieve the following IELTS score:

IELTS: 7.0 including 7.0 in both reading and writing, and no less than 6.0 in speaking or listening

Students who require extra support to meet the English language requirements for their academic course can attend a presessional course at the Centre for English Language Education (CELE) to prepare for their future studies. Students who pass at the required level can progress directly to their academic programme without needing to retake IELTS. Please visit the CELE webpages for more information.

International applicants

Alternative entry requirements for those with international fees status are as follows:

International Baccalaureate: 36 including bonus points

ISC/CBSE: 90% in year 12

Foundation programmes: 70%

Alternative qualifications 

View the alternative qualifications page for details.

Flexible admissions policy

In recognition of our applicants’ varied experience and educational pathways, The University of Nottingham employs a flexible admissions policy. We may make some applicants an offer lower than advertised, depending on their personal and educational circumstances. Please see the University’s admissions policies and procedures for more information.

Notes for applicants

We are looking for students who have the ability and motivation to benefit from our courses, and who will make a valued contribution to the department and the University. Candidates for full-time admission are considered on the basis of their Universities and Colleges Admissions Service (UCAS) form.

When considering your application, we will look for evidence that you will be able to fulfil the objectives of the programme of study and achieve the standards required. We will take into account a range of factors additional to, and in some cases instead of, formal examination results. Selection of those applicants to whom we will make an offer will be based upon a combination of the candidate's academic record and an assessment of all the information provided in their UCAS application form, their academic reference and their personal statement.

 
 

Modules

Typical year one modules

Core economics modules

Careers and Employability for Economists

This module aims to provide a means for enabling students to reflect on their personal development and the implications this might have for their future career paths. It will include:

  • guidance on recording and evaluating skills
  • guidance on careers from the Careers and Employability Service
  • information, guidance and advice form a range of graduate employers and alumni
 
Foundations of Macroeconomics: Growth, Cycles and Policy

This is a single semester introductory course in macroeconomics; there is no assumption of any prior knowledge of economics. Macroeconomics is the study of the aggregate economy. This module will focus on the determinants of aggregate output, both in the short run - addressing cyclical movements of booms and busts - and in the long run - providing an introduction to economic growth.

A running theme will be debates over the role of the government in macroeconomic management, covering fiscal and monetary policy. The module will introduce a series of basic models used in modern macroeconomics.

 
Foundations of Microeconomics: Choice, Markets and Welfare

This is a single semester introductory module in microeconomics; there is no assumption of any prior knowledge of economics. It begins by analysing how the economic choices of households and firms can be understood using consumer and producer theory. It then looks at how these individual choices are aggregated into market demand and supply to be mediated through the price mechanism.

A variety of market settings are considered, ranging from the paradigm of perfect competition to strategic interactions in oligopolistic markets. The module concludes by providing an introduction to the normative evaluation of economic outcomes in terms of individuals' welfare, covering both market and government failures.

 
Writing Economics

This module aims to introduce students to the essential skills required for writing as an economist. It will be delivered in conjunction with Libraries, Research and Learning Resources (LRLR), who will cover content on key information skills relating to the library and learning resources.

It will give an introduction to the language of economics and basic research skills and how to write essays and exams. Among the topics covered will be academic integrity and plagiarism; time management; writing essays; writing quantitative projects; presentation skills; referencing and using the internet; revision and examinations.

 

Core philosophy modules

Appearance and Reality

This module involves an examination of some of the central themes in modern philosophy that are found in the work of John Locke, one of the first philosophers who sought to integrate philosophy with our modern scientific worldview. The two basic questions we will look at are:

  • What is the world really like?
  • How do we know about the world around us?

Topics covered include:

  • empiricism and science
  • perception
  • knowledge, justification and skepticism
  • primary vs secondary qualities
  • idealism
  • the nature of objects
  • substance and essence

In the process we will ask such questions as: How do we see the world, and can we trust what we see? How are our beliefs about the world justified? What is knowledge anyway? What are colours? Do they exist only in our minds? What are material objects? Do they exist only in our minds? What makes a thing the thing it is, rather than something else?

 
Elementary Logic

This module provides an introduction to modern logic. The module is intended to supply that basic minimum knowledge of logic and its technical vocabulary which every philosophy student requires in order to understand a lot of modern philosophical writing. We introduce the symbolism of modern logic, practice translation between that symbolism and English and discuss in an introductory way the theory of the structure of thought implicit in the symbolism.

 
Introduction to Ethics

This module introduces you to some of the main ethical questions studied by philosophers. The first part focuses on some contemporary moral problems (for example, the justification of punishment).

The second part of the course looks at some normative ethical theories and concepts that provide ways of approaching such moral problems.

The third part of the course considers some challenges to the idea of systematic moral inquiry (such as relativism, egoism and emotivism).

 
Reasoning and Argument: Introduction to Philosophical Method

This module introduces a series of key skills relevant to the aims and methods of philosophical inquiry. It is designed to help you understand the nature and structure of arguments, acquire critical tools for assessing the arguments of others, and improve your ability to present your own reasoning in a clear and rigorous manner.

The module also aims to assist the development of an independent, reflective and self-managed approach to study, and to familiarise you with the abilities and competences that are expected to be developed during your degree.

 
Self, Mind and Body

The module introduces you to several central issues in the philosophy of self, mind and body. These issues are of great importance in the history of philosophy, and they continue to attract significant contemporary philosophical attention.

We will examine Descartes' foundational contributions in his Meditations, with particular attention to his discussions of dualism and mind-body interaction. We will also study several related topics, including contemporary theories of mind.

 

Optional economics modules

Current Economic Issues II

This module focuses on a range of current issues facing the world economy, seeks to illustrate how economists model such issues, and examines potential policy responses. Example topics to be covered are:

  • Globalisation
  • Economic growth
  • The global financial crisis
  • The world economy
  • Emerging economic superpowers
  • Consequences of rising economic nationalism
 
Economic Integration I

This module introduces students to the economics of integration. The module analyses the consequences for countries seeking closer economic integration through successively more ambitious forms. This begins with a limited trade arrangement, followed by a common market, which also allows free movement of capital and migrant workers, and a Single Market.

The final part of the module examines monetary integration, beginning with exchange rate stabilisation and then considering Monetary Union. The module aims to combine principles of economic analysis with an assessment of the impact of such measures on the member economies.

 
Economic Integration II

This module introduces students to the economics of integration. It analyses the economic rationale for, and practice of, policy co-ordination and harmonisation both at the European and at a global level. An examination of the economic rationale for common EU policies is followed by an analysis of such examples as the common agricultural, trade and regional policies, and the operation of the European Budget.

At the global level cooperation in trade, finance and development policies is reviewed in relation to the operation of institutions such as the World Trade Organisation, the International Monetary Fund and the World Bank. The module aims to combine principles of economic analysis with an assessment of the impact of international policy coordination.

 
Economic Perspectives

This module is intended as a foundation for the understanding of modern economic theories and policies. It is concerned with the:

  • different characters and workings of economies of the past
  • changing ways in which economic questions have been interpreted and answered over time

As will be discovered, the 21st century Western views of everyday economic concepts such as ownership, money, exchange, work, poverty, industrialisation, economic growth and government are quite different from those expressed at other times and in other places.

 
Growth and Development in Long-Run Historical Perspective

In this module we will explore the long-run, historical determinants of the wealth of nations. We will begin by taking a long-run view on modern economic growth, showing how this has led to dramatic changes in the relative wealth of nations over the last 500 years.

We will then ask two key questions: why have modern economic growth started in some places rather than others? And while have some countries been able to catch up, while others have not? These investigations will improve our understanding of why are some countries much richer than others, and will give us some important insights on how to promote sustained growth in developing countries.

The module draws on a vibrant new literature in economics that looks at comparative development as the outcome of a long historical process, and uses techniques originally developed in economics to improve our understanding of history. Without going into the technical details, the module reviews the main findings of this literature, discusses their implications for modern development experiences, and lays out the main challenges for future research.

By providing an historical perspective on growth and development, the module will endow you with a better understanding ofcontemporary economic issues. It will also give you some exciting examples of how the economic techniques you will learn in later modules can be used to understand the world better.

 
 

Typical year two modules

Core economics modules

Principles of Macroeconomics

The modules covers intermediate macroeconomics covering simple macro-models of goods, labour and money markets, such as IS-LM and aggregate supply/aggregate demand, including open economy extensions. Dynamic issues incorporating expectations and long run growth will also be considered. The module will analyse policy questions surrounding exchange rates, monetary and fiscal policy, budget deficits and debt.

 
Principles of Microeconomics

This module covers microeconomics including general equilibrium analysis, welfare economics, social choice, elementary game theory, and strategic behaviour of different actors such firms, voters and governments.

 

Optional philosophy modules

Being, Becoming and Reality

We look at some fundamental metaphysical questions about the cosmos. A selection of the following topics will be studied:

  • Objects: concrete vs. abstract; existence and nothingness
  • Sets and mereology
  • Properties, Property bearers, Relations
  • States of affairs and non-mereological composition
  • Modality (including counterfactuals) and possible worlds
  • Time, persistence, change, and the non-present
 
Contemporary Metaethics

Are there moral fact? What is moral truth? Do psychopaths really understand moral language? These are just some of the questions we'll be asking on this module. Metaethics isn’t anything like normative or applied ethics; rather it is about asking how ethics works. This means we'll be thinking about, amongst other things, moral ontology, moral language, moral psychology and moral reasons. The teaching will be delivered through a mixture of lectures and seminars.

 
Freedom and Obligation

This module combines consideration of the political philosophy of Machiavelli, Hobbes, Locke, Rousseau, and J.S. Mill with related themes in contemporary debates. The module is designed to introduce you to each of the thinkers and then to consider how related issues are treated by contemporary writers. Thus the module combines a thinker-based approach to studying political philosophy with a topic-based approach.

The thinkers and indicative themes to be studied are as follows (note that precise themes may vary from year to year):

  • Machiavelli - The relationship between moral and political philosophy
  • Hobbes - Rationality and sovereignty
  • Locke - Rights, property, and rebellion
  • Rousseau - Authenticity, democracy, and progress
  • J.S.Mill - Freedom, representative government, and utility
 
History of Philosophy

The module involves the study of one or more texts by one or more influential pre-21st century philosophers. The module will proceed via a close reading of the texts set and also draw on additional material by scholars, background material, and influential responses.

Possible subjects are some of the writings of, for example, Plato, Aristotle, Spinoza, Leibniz, Berkeley, Hume. Please note: the module is not a survey of the history of philosophy, and it may focus on the writings of only one philosopher in any given year that it runs.

 
Knowledge and Justification

This module explores contemporary treatments of issues pertaining to knowledge and the justification of belief. It addresses issues such as:

  • the structure of justification and its relation to one's mental states and evidence (foundationalism vs. coherentism; internalism vs.externalism; evidentialism)
  • the justification of induction
  • the notion of a priori justification
  • the relation between your evidence and what you know
  • the natures of perceptual experience and perceptual knowledge
  • safety and contextualist theories of knowledge
  • Moore's response to skepticism
  • testimonial knowledge, "virtue" epistemology and its relation to "reliabilist" epistemology
 
Mind and Consciousness

This module aims to introduce you to some of the major issues within contemporary philosophy of mind. We will examine four topics and the interactions between them:

  • Intentionality
  • Consciousness
  • Mental causation
  • The status of physicalism
 
The Nature of Meaning

The module begins with an exploration of various theories of naming, paying particular attention to the works of Frege, Russell (including the theory of descriptions), and Kripke. We then turn our attention to various puzzles concerning the nature of meaning, including the distinction between analytic and synthetic sentences.

In the final part of the module, we move on to a discussion of some of the mainstream theories of meaning; particularly, a truth-conditional semantics, and we explore how this might be developed to take into account indexical terms such as 'I', 'now', and 'here'. Some of the skills acquired in Elementary Logic will be applied in this module.

 
Normative Ethics

Normative ethics is the branch of moral philosophy that attempts to systematise everyday judgements about the rightness and wrongness of actions. In everyday life we commonly form opinions about such things as whether euthanasia should be legalised, or how we should balance the competing goals of fighting terrorism and protecting individual liberties, for example. Are these judgements on diverse topics logically disconnected, or should they conform to some common structure or pattern? The focus of this module is on the three main attempts to systematise them that have been made by moral philosophers.

The first, consequentialism, holds that the rightness or wrongness of actions is wholly determined by their goodness. The second, deontology, holds that there are moral constraints on acting such that it can sometimes be wrong to act in a way that brings about the best results. The third, virtue ethics, emphasises the relationship between right action and good and bad character.

 
Philosophy of Art

This module includes a discussion of some philosophical problems pertaining to art. Topics will include: definitions of art, Walton’s theory of make-believe, art, music, and the emotions, and the ontological status of artworks. This module aims to promote a deeper understanding of philosophical issues pertaining to art. By the end of the module, you should be able to discuss and evaluate different views of the expressive power of art, to explain certain current views on expression and representation, and to present the main contemporary viewpoints pertaining to the nature of artworks. The teaching will be delivered through a mixture of lectures and seminars.

 
Social Philosophy

This module will address some key issues in social philosophy, or key ideas from thinkers in social philosophy. Indicative topics that might be covered include:

  • philosophy of gender
  • philosophy of race
  • philosophy of disability
  • philosophy of relationships and friendship
  • slavery and abolition
  • social and psychological oppression
  • the political thought of Hannah Arendt

This module aims to provide students with an in-depth understanding of some key ideas in social philosophy.  

 

Optional economics modules

Development Economics

This module is a general introduction to the economic problems of developing countries. The module will cover such topics as:

  • the implications of history and expectation
  • poverty, income distribution and growth
  • fertility and population
  • employment, migration and urbanisation
  • markets in agriculture
  • agricultural household models
  • risk and insurance
  • famines
 
Environmental and Resource Economics

This modules will look at the following:

  • Principles of environmental policy: efficiency and sustainability
  • Market failure and the need for environmental policy: the Coase theorem
  • Instruments of environmental policy: efficiency advantages of market instruments; applications of market instruments, especially the EU Emission Trading Scheme
  • Valuation of the benefits of environmental policy
  • Biodiversity and its benefits
  • International trade in polluting goods
  • Mobile capital: race to the bottom?
 
Experimental and Behavioural Economics

This module provides a foundation in behavioural economics and the role of experimental methods in economics. The traditional approach in economics is to explain market outcomes and economic decision-making using simple theoretical models based on perfectly rational, self-interested agents who maximise their well-being by carefully weighing up the costs and benefits of different alternatives. Behavioural economics, on the other hand, aspires to relax these stringent assumptions and develop an understanding of how real people actually make decisions.

The module will introduce students to behavioural and experimental economics, discuss these fields from a methodological perspective and examine several areas of economic analysis in which they are applied. This will include individual choice under risk and uncertainty, decision-making in strategic situations and competition in markets.

 
Financial Economics

This module will begin by introducing some theoretical concepts related to the functioning of financial markets. Then it will apply these concepts in three main areas; namely consumer finance, corporate finance and financial intermediation.

 
Industrial Economics

This module provides an economic analysis of the theory and practice of organisation of firms and industries. It explores the nature of competition among firms and their behaviour in various markets, with the specific emphasis on imperfectly competitive markets. Tools for both empirical and theoretical approaches to the analysis of industries are covered.

Starting from a detailed analysis of market structures, the module goes on to discuss various aspects of firms' behaviour and their influence on market outcome. Among the behaviours covered in the module are price discrimination, vertical integration, advertising, research and development activities and entry and exit of firms. Government regulation of industries is also discussed.

 
International Trade

This module is an introduction to international trade theory and policy. It covers the core trade theories under perfect and imperfect competition and applies them to understanding the pattern of trade, gains from trade and modern topics like foreign outsourcing. On the policy side, it examines the effects of different government trade policy instruments and the role of international trade agreements.

 
Introduction to Political Economy

This module is concerned with the effect of political and institutional factors on economic variables as well as with the study of politics using the techniques of economics.

 
Labour Economics

This module provides an introduction to the economics of the labour market. We will look at some basic theories of how labour markets work and examine evidence to see how well these theories explain the facts.

Particular attention will be given to the relationship between the theory, empirical evidence and government policy. The module will refer especially to the UK labour market, but reference will also be made to other developed economies.

 
Monetary Economics

This course will provide a foundation for the monetary economics modules in the third year and is a complement to financial economics for the second and third years. It will cover topics such as the definitions and role of money, portfolio choice, financial markets and banks, central banks and monetary policy, and the monetary transmission mechanism. 

Under these headings the module will address issues of theory, policy and practice relating to recent experience in the UK and other countries. The module will feature some current debates and controversies based on recent events.

 
Public Sector Economics

This module looks at:

  • public finances in the uk
  • market failures
  • fundamental theorems of welfare economics
  • social welfare functions
  • externalities
  • public goods
  • natural monopolies
  • public choice
  • social insurance: social security, taxation and equity
  • excess burden of taxation and tax incidence
 
 

Typical year three modules

There are no core modules for year three.

Optional philosophy modules

Advanced Logic

This module investigates different kinds of contemporary logic, as well as their uses in philosophy. We will look at logics of possibility and necessity, time, and knowledge, as well as alternative logics, including 'anti-realist' logic and fuzzy logic. We will apply formal techniques from these logics to philosophical topics including vagueness, the liar paradox and anti-realism. We will also investigate basic set theory, infinity and the limits of formal logic, including soundness, completeness and decidability proofs.

 
Buddhist Philosophy

The module will focus on a critical examination of core aspects of Buddhist thinking, with emphasis on some of its basic psychological, spiritual, and metaphysical conceptions. These include, in particular: the origin and nature of suffering, the no-self thesis, enlightenment, consciousness, experiential knowing, and the doctrine of Emptiness ( the lack of inherent nature in all things and impermanence).

The module will focus particularly on Nâgârjuna's philosophy of the 'middle way' and some modern commentaries on it. The module will approach Buddhism as a philosophical world-view, rather than as a religious one. The module will not be involved in detailed exegesis of ancient texts. When possible the module will try to link Buddhist conceptions to contemporary ideas about personhood, consciousness and the fundamental nature of reality. You will have a mixture of seminars and lectures for this module. 

 
Communicating Philosophy

This module will teach students how to communicate philosophy through a variety of different mediums, assessing them in each. We will look at how philosophy can be communicated through legal documentation, press releases, handouts, lesson plans, digital marketing campaigns, funding bids and posters (with optional presentations). A number of the sessions may be delivered by professionals from outside the University, with support from the module conveners.

 
Dissertation

The aim of this module is to provide students with an opportunity to write an 8,000 word dissertation on a philosophical topic, the precise subject of which is by agreement with the supervisor. At the completion of the module you will have had an opportunity to work independently, though with the advice of a supervisor.

 
Environmental Ethics

Environmental ethics addresses the issue of how human beings should interact with the non-human natural world. This module will cover a range of topics from contemporary philosophical literature on environmental ethics, including: the scope of moral concern (ie. whether and how our moral theory should concern itself with animals, plants, rocks, ecosystems); whether nature is intrinsically valuable, or whether it possesses value only by being valuable to us; whether it is reasonable to search for just one overarching 'environmental ethic' (ie. the debate between monism and pluralism in ethics); the metaphysics, ethics and politics of the 'deep ecology' movement; whether there is any connection between the twin oppressions of women and nature (as ecofeminists claim); the nature of sustainability and whether it is worth seeking; the ethics of restoring nature after it has been damaged by human development; whether there are any distinct environmental virtues.

 
Free Will and Action

This module will focus on a number of questions, including: what would it take for an action to be free (or an exercise of 'free will')? Is there is any way in which our actions could be free in the relevant sense, whether or not determinism is true? How do actions differ from bodily movements that are not actions? Actions are typically (perhaps always) done for reasons, but what exactly is the relation between the reasons and the actions? Do the reasons cause the corresponding actions - and if they do, can this be the same kind of causation as is involved in ordinary 'mechanistic' causal explanation? What is the connection between intentional or voluntary action and rational action? In particular, it seems that we sometimes intentionally and voluntarily do things that we ourselves regard as irrational - but how is such 'weakness of will' possible? You'll be taught through a two-hour lecture each week.

 
Marx

In this module you'll be introduced to the theories of Karl Marx through selected texts from his works. Topics covers will include: alienation, the material conception of history, the labour theory of value and French political theory among others. You'll gain an understanding of concepts essential for advanced study on this course.

 
Metaphysics and Language: Quine, Kripke and Lewis

The module involves the study of Naming and Necessity, a seminal text in the philosophy of language, philosophical logic and metaphysics of one of the most influential philosophers of the second half of the 20th century: Saul Kripke. His work is generally considered the starting point of a twentieth century revolution in the philosophy of language and metaphysics, overturning the consensus established through the writings of Frege and Russell on reference and naming, and inaugurating a new era of analytical metaphysics, central to which is the acknowledgement of necessary a posteriori truths and a division between essential and accidental properties of individuals and kinds. The course will proceed via a close reading of Naming and Necessity, and also draw on additional material by Kripke, background material and some influential responses.

 
Personal Identity

If you and another person had your brains swapped, would you have swapped bodies? Or should we say that you still exist in your old body, only now your memories, beliefs, personality traits, etc. are different? Would you survive teleportation? What if teleporting worked by recording your body state, destroying your body, and then creating a copy of it elsewhere? Would this copy be morally responsible for your crimes? What if the teleporter created two copies? These puzzles raise the issue of what your continued existence consists of - are you essentially a brain, a soul, a body, a set of mental states, or something else? This is the issue we will examine in this course. We will also examine the moral implications of personal identity.

 
Philosophy of Criminal Law

There is perhaps no more vivid example of the exercise of state power over individuals than through the institution of criminal law. The criminal law raises a host of important philosophical questions, such as these: Is there a general obligation to obey the law? If so, what is the basis for this obligation? What sorts of acts should be criminalised, and why? What does it mean for someone to be responsible for a crime, or for the state to hold someone responsible? What is the proper role for the presumption of innocence: Who must presume whom to be innocent of what? Is criminal punishment justified? If so, why? Is the state ever justified in imposing legal restrictions on offenders even after they have completed their punishment? How should the criminal law function in the international context? Readings will include seminal works by historical figures such as Plato, Bentham, and Kant, as well as prominent work by more contemporary philosophers such as Hart, Hampton, Duff, and others.

 
Philosophy of Science

What is science? Is there a scientific method, and if so, what is it? Can science tell us what the world is really like? Is it the only way to know what the world is really like? Does science progress? What is a 'paradigm' and when/how does it 'shift'? Is science 'socially constructed'? Can a sociological study of the practice of science tell us anything about the nature of science? Is science 'value-neutral'? Should we 'save society from science'? What are 'the science wars' and who won?

These are some of the questions we will explore in this module. We will start with the positivism-empiricism of the early 20th century and culminate with the postmodernismrelativism of the late-20th century and its aftermath. Readings will include seminal works by Ayer, Hempel, Popper, Kuhn, Lakatos, Feyeraband, Bloor, and Laudan.

 
Utilitarianism

This module will take a detailed look at one of the main topics of contemporary analytical political philosophy: the theory of distributive justice. This theory attempts to specify abstractly the conditions under which a distribution of benefits and burdens amongst a group of persons would be just. You will consider challenges to the legitimacy of any redistributive principle, and attempts to accommodate values such as responsibility and choice in different patterns of distribution. You'll have a two hour lecture and one hour seminar each week.

 

Optional economics modules

Advanced Development Economics

This module adopts a broad focus on factors influencing growth and development. Topics covered include macroeconomic policies, aid, debt, trade; growth experiences in East Asia, China and Africa.

 
Advanced Econometric Theory

This module generalises and builds upon the econometric techniques applied to the multivariate linear regression model covered in the year two module, Econometrics I. This will involve introducing a number of new statistical and econometric concepts.

In particular we study large sample, or asymptotic, theory. This is needed in order to obtain tractable results about the behaviour of estimators when the standard modelling assumptions - which frequently cannot be verified in practice - are relaxed. 

 
Advanced Experimental and Behavioural Economics

This module provides a window on three important sub-areas of experimental and behavioural economics. The first focuses on design issues and individual decision-making, the next two sections focus on applications to the study of strategic behaviour and market behaviour.

You do not need to have studied experimental or behavioural economics before because all topics will be introduced at a level that will be accessible to the newcomer. The module is, nevertheless, suitable as a sequel to the year two module Experimental and Behavioural Economics because the contents of the two modules cover distinct, but complementary, topics.

 
Advanced Financial Economics

The module covers the following:

  • Saving, focusing on how agents make intertemporal decisions about their savings and wealth accumulation
  • Saving puzzles and household portfolios, focusing on credit markets and credit markets imperfections, and why do households hold different kinds of assets
  • Asset allocation and asset pricing, focusing on intertemporal portfolio selection, asset pricing and the equity premium puzzle
  • The role of behavioural finance in explaining stock market puzzles
 
Advanced International Trade Theory

The module covers:

  • models of intra-industry trade
  • trade policy in oligopolistic industries
  • mathematical enterprises
  • testing trade theories
  • the WTO and "new issues"
 
Advanced Labour Economics

The module covers an economic analysis of the labour market, with an emphasis on policy implications and institutional arrangements.

 
Advanced Macroeconomics

This module covers the following:

  • Dynamic general equilibrium models, focusing on how the time path of consumption, and saving, is determined by optimising agents and firms that interact on competitive markets
  • Growth in dynamic general equilibrium, focusing on the Solow model and the data, and the role played by accumulation of knowledge (endogenous innovation) in explaining long run growth
  • Real Business Cycles (RBC), focusing on how the RBC approach account for business cycle fluctuations, and what links short run fluctuations and growth processes
 
Advanced Mathematical Economics

The module is intended to provide an introduction to mathematical techniques used in economics. In particular, examples of economic issues that can be analysed using mathematical models will be discussed in detail.

Particular attention will be given to providing an intuitive understanding of the logic behind the formal results presented. Students who wish to pursue a higher degree in economics will find the module particularly useful.

 
Advanced Microeconomics

The module will cover topics in advanced microeconomics and decision theory. The precise content may vary from year to year, but the module will start from the basis established by the Microeconomic Theory module.

 
Advanced Monetary Economics

This module will provide an outline of the elements of monetary theory and of theoretical policy issues. 

 
Advanced Public Economics I

The module will introduce some major themes of public economics, using microeconomic tools to analyse public policy. The equity and efficiency implications of policies will be examined within an economic framework.

 
Advanced Time Series Econometrics

This module is a continuation of the module on time series analysis taken in the second semester of the second year. While the earlier module was devoted to basic time series model building methodology, applicable over a broad range of disciplines, the present module concentrates on those developments which can be applied in the subject of economics. 

In particular, the emphasis will be on aspects of the behaviour of typical economic time series, and the implications of that behaviour in practical analysis, such as the construction of models linking economic time series.

The key issues addressed will be the identification of non-stationarity through the construction of formal tests and the implications for modelling with non-stationary data. Particular attention will be paid to the contributions of Sir Clive Granger to the spurious regression problem and to cointegration analysis, for which he was ultimately awarded the Nobel Prize.

 
Industrial Organisation

This module provides an advanced economic analysis of the theory of organisation of firms and industries. It will analyse a variety of market structures related to the degree of market competition with a special emphasis on imperfectly competitive markets. It will also analyse issues related to the internal organisation of firms.

 
International Money and Macroeconomy

This module will provide an introduction to international monetary issues, including the determination of exchange rates, the functioning of the international monetary system, and international macroeconomic policy co-ordination. 

 
International Trade Policy

This module looks at:

  • trade policy: theory and evidence
  • trade policy and imperfect competition
  • trade and distortions
  • the political economy of protection
  • trade policy reform
 
Numerical Methods

This module covers the following:

Static numerical methods

  • Numerical solution methods
  • Numerical static optimisation methods
  • Applications: resource allocation, computable general equilibrium

Dynamic numerical optimisation

  • Discrete dynamic programming
  • Implementation of the methods
  • Applications: optimal growth, rational expectations, asset management

Agent-based economic modelling

  • Foundations of agent-based modelling
  • Basics of computer programming
  • Applications: evolutionary games, markets   
 
Political Economy

The module will cover the following:

Foundations

  • The rational political individual?
  • Voter participation
  • Collective action and the role of the state

Core Political Economy

  • The economic approach to politics
  • Political aspects of economics: rights and the limits of the state
  • Political aspects of economics: inequality and the duties of the state

Political Economy in Action

  • Political economy in action: some current issues in applied political economy
 
Topics in Econometrics

This module focuses on a range of econometric methods used in policy evaluation and in the identification and estimation of causal effects. Topics to be covered include:

  • potential outcomes framework
  • regression analysis and matching
  • instrumental variables
  • difference-in-differences
  • regression discontinuity
 
 

 

The modules we offer are inspired by the research interests of our staff and as a result may change for reasons of, for example, research developments or legislation changes. The above list is a sample of typical modules we offer, not a definitive list.

 
 

Study abroad

The University of Nottingham has one of the biggest and most diverse study abroad programmes in the UK, and those who have studied abroad often say that it was the highlight of their time as a student.

On this course, you can apply to spend part of your second year at one of our international partner universities in Australia and Canada. You'll get the opportunity to broaden your horizons and enhance your employability by experiencing another culture and will study similar modules to your counterparts back in Nottingham (teaching is in English).

Find out more.

 

Careers

The growth of economic awareness has increased the demand for economics graduates and a degree from Nottingham really will give you a head start in your career. At Nottingham you will acquire a strong academic foundation and a range of excellent economic and transferable skills, such as the ability to study independently and communicate effectively, both orally and in writing. You will also have the capacity to grasp complicated economic concepts, whether they are mathematical or philosophical in nature.

Philosophy graduates are recognised by graduate recruiters as highly adept in analytical reasoning, clear presentation of ideas, constructive discussion and the ability to articulate complex ideas and lines of reasoning in accessible ways. These highly transferable skills mean that individuals are well equipped for their chosen career.

Our graduates opt for a wide variety of careers, including investment banking, accountancy, tax consultancy, working in government offices, auditing, derivatives trading, management consultancy, mergers and acquisitions, and many more. We recognise that graduates often need more than just a great degree to make their CV stand out from the crowd so we also work with students to help them obtain internships and work experience with top employers.

Average starting salary and career progression

In 2015, 93% of first-degree graduates in the School of Economics who were available for employment had secured work or further study within six months of graduation. The average starting salary was £29,505 with the highest being £65,000.*

In 2015, 93% of first-degree graduates in the Department of Philosophy who were available for employment had secured work or further study within six months of graduation. The average starting salary was £23,871 with the highest being £45,000.*

* Known destinations of full-time home first degree undergraduates 2014/15. Salaries are calculated based on those in full-time paid employment within the UK.

Careers support and advice

Studying for a degree at The University of Nottingham will provide you with the type of skills and experiences that will prove invaluable in any career, whichever direction you decide to take.

Throughout your time with us, our Careers and Employability Service can work with you to improve your employability skills even further; assisting with job or course applications, searching for appropriate work experience placements and hosting events to bring you closer to a wide range of prospective employers.

Have a look at our Careers page for an overview of all the employability support and opportunities that we provide to current students.  

 
 

Fees and funding

Scholarships and bursaries

The University of Nottingham offers a wide range of bursaries and scholarships. These funds can provide you with an additional source of non-repayable financial help. For up to date information regarding tuition fees, visit our fees and finance pages.

Home students*

Over one third of our UK students receive our means-tested core bursary, worth up to £2,000 a year. Full details can be found on our financial support pages.

* A 'home' student is one who meets certain UK residence criteria. These are the same criteria as apply to eligibility for home funding from Student Finance.

International/EU students

The University of Nottingham provides information and advice on financing your degree and managing your finances as an international student. The International Office offers a range of High Achiever Prizes for students from selected schools and colleges to help with the cost of tuition fees.

 
 
 

Key Information Sets (KIS)

Key Information Sets (KIS)

KIS is an initiative that the government has introduced to allow you to compare different courses and universities.

Assessment

There is assessment associated with this programme that is not attached to a specific module. During first year students complete two assessed, non credit bearing courses on Writing Economics and Careers and Employability for Economists. Writing Economics help students adapt to university study, as well as providing information and support for effective study.  

Careers & Employability for Economists allows reflection on personal development and implications on students' future careers. It will include workshops on work experience, interviews and job application in sessions led by leading employers, graduates and the Careers Service. 

How to use the data

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Disclaimer
This online prospectus has been drafted in advance of the academic year to which it applies. Every effort has been made to ensure that the information is accurate at the time of publishing, but changes (for example to course content) are likely to occur given the interval between publishing and commencement of the course. It is therefore very important to check this website for any updates before you apply for the course where there has been an interval between you reading this website and applying.

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