ObjectivesThe aim of the programme is to build upon economics skills learnt at the undergraduate level and, in particular, to emphasise how these skills can be applied to solve real-world business problems. Economics graduates will have the opportunity to extend their previous economics training by focusing more on business and policy issues, and the programme is designed to develop areas of specialised and marketable skills.
Academic titleInternational Business Economics MSc
Course descriptionThis progamme is designed to meet the high demand for economics postgraduates who have the ability to apply economic analysis and quantitative skills to business and policy problems.
While emphasising the importance of economic theory, the programme is very applied in nature. Extensive use is made of case studies and policy problems.
Modules: MSc Business Economics/International Business Economics
Students who wish to obtain the MSc International Business Economics must select the International Business Economics elective and their dissertation must be in the field of International Business Economics.
Academic Period 1
Students study three compulsory core modules. Students also undertake research training and agree a programme of research with their dissertation supervisor.
-ECM002 Business Economics
-ECM003 Quantitative Methods in Business Economics
-ECM001 Financial Markets
Academic Period 2
Students choose three from the six elective modules. In addition, there will be research supervision: group/individual discussion with supervisors.
-ECM008 E-Commerce
-ECM005 International Business Economics
-ECM009 Corporate Finance
-ECM007 Economics and Business Strategy
-ECM006 Economics of Competition and Regulation
-ECM004 Econometrics for Business Economics
Academic Period 3
ECM010 Research Methods Training/Dissertation
Module Outlines
ECM001 Financial Markets (20 credits)
This core module is designed to introduce students to the world of finance and financial markets. The module will familiarise students with the key theoretical models relating to risk and return in financial markets. The module provides an introduction to the variety of financial instruments and how these instruments can be used by businesses both as a means of raising finance and for managing business risks.
ECM002 Business Economics (20 credits)
This unit is a core unit in the MSc Business Economics andInternational Business Economics. It is designed to show how economic theory can be applied to business. Although strictly speaking it is not an economic theory unit, the underlying framework for case analysis will be the different theories that economists use to model behaviour in such environments. An understanding of basic microeconomics is necessary to attempt the unit, which will develop your analytical and reasoning skills.
ECM003 Quantitative Methods in Business Economics (20 credits)
The module is designed to provide the necessary foundation in the essential statistical and quantitative techniques for the study of business economics. Students will also be made familiar with appropriate statistical software that can be used for business economics analysis.
ECM004 Econometrics for Business Economics (20 credits)
The objective of the module is to provide an introduction to econometrics motivated by applications in Finance. It reinforces and extends the Quantitative Methods module taken in Period 1, covering a range of techniques widely used in modern applied econometric work, and demonstrates how these techniques are applied to specific areas of economic enquiry.
ECM005 International Business Economics (20 credits)
This module aims to introduce students to the international economic and business environment in which modern day businesses and policy makers have to operate. In particular, students will be made familiar with the main issues governing the conduct of world trade, investment flows and multinational corporations. Students will also learn about the key international organisations
whose rules regulate the conduct of the global economy.
ECM006 Economics of Competition and Regulation (20 credits)
The aim of this module is to provide a grounding in the knowledge and understanding of the economic analysis that underpins competition policy and regulatory policy towards network utilities.
ECM007 Economics and Business Strategy (20 credits)
This module aims to introduce students to the economics of business strategy. The module will show how economic analysis can assist firms in marketing decisions. The module will consider questions such as which is a good market? How can a firm outperform its rivals? Students will be made familiar with core strategic economic issues.
ECM008 E-Commerce (20 credits)
The module is designed to familiarise students with the implications of electronic commerce and its influence on modern business. Pervasive computing spawned a 'Wild West' phase of e-commerce. The deflation of the dotcoms (which never accounted for more than 10% of e-commerce) heralded a more measured approach to ICT-mediated business. The module structure will employ an holistic framework - strategy, implementation, exploitation and innovation - to raise awareness of opportunities and threats in this emerging 'new look' economy.
ECM009 Corporate Finance (20 credits)
This module is aim to introduce students to the key theorems that underpin modern corporate finance and their relevance to business capital structure and corporate governance. Students will also learn how corporate finance can be used to analyse the investment decision and evaluate the benefits and costs of mergers and takeovers.
ECM010 Research Methods Training/Dissertation (60 credits)
The module is designed to provide the students with the necessary background to undertake a piece of individual research in the form of a dissertation in the field of either Business Economics or International Business Economics. Students will learn how to write a dissertation proposal, structure their dissertation and locate sources of information relevant to their proposed research.
Teaching and learning
The programme will be delivered through a mixture of lectures, class discussions/seminars, student presentations, analysis of case studies and interactive computer based exercises, particularly in relation to the quantitative elements of the course. In addition, students will undertake a compulsory five-hour research methods course to prepare them for the undertaking of a piece of independent research on an approved topic.
Assessment
The six taught modules (three core and three elective) will be assessed by means of written coursework, a piece of group work and/or formal presentation and a final examination.
Dissertation
All students are required to submit a dissertation of 10-12,000 words on an appropriate area of business economics.
Students opting for the MSc in International Business Economics must select the International Business Economics elective and write their dissertation in this field of study.
The dissertation topic will be agreed with the student's tutor on the basis of an outline indicating the topic and the aim of the dissertation, the methodology to be adopted and the data to be employed.