Module: BMA5117-20 Applying Economics

Level: 5

Credit Value: 20

Module Tutor: Wanru Yao

Module Tutor Contact Details: w.yao@bathspa.ac.uk

1. Brief description and aims of module:

The aim of this module is to teach you how to use economics to understand and articulate reasoned views on some of the most pressing policy problems facing our societies: inequality, financial instability, the future of work, climate change, wealth creation, and innovation.

You will receive practical training in understanding and using data to measure the economy and policy effectiveness. You will study problems of identifying causation (not just correlation) through the use of experiments and other quantitative methods. Social interactions (modelled using simple game theory) and incomplete information (modelled using a series of principal–agent problems) are introduced from the beginning of the module. The way economists think about public policy is central to the module.

In this module, you will be able to demonstrate the following Graduate Attributes:

• Global and social awareness – you welcome new ways of thinking and can anticipate the impact of external situations;

• Able to understand and manage complexity, diversity and change;

• Ethical awareness: prepared for citizenship in a local, national and global context;

• Critical and creative thinker and Skilled communicator.

2.Outline syllabus

This is a practical module and you will apply economics to the current most important issues:

1. Capitalism and democracy: Affluence, inequality, and the environment.

2. Social interactions and economic outcomes.

3. Public policy for fairness and efficiency.

4. Work, wellbeing, and scarcity.

5. Institutions, power, and inequality.

6. The firm: Employees, managers, and owners.

7. Firms and markets for goods and services.

8. The labour market and product market: Unemployment and inequality.

9. The credit market: Borrowers, lenders, and the rate of interest.

10. Banks, money, housing, and financial assets.

11. Market successes and failures.

12. Governments and markets in a democratic society.

3.Teaching and learning activities

This module is delivered with 1 hour lecture and 3 hours seminars weekly. In lectures you will be introduced to economic concepts, while on seminars you will be involved in its application to real data and engaging with major policy problems.

Assessment Item 1:

• Assessment Type: Course Work

• Description: Individual Project (2500 words)

• % Weighting: 50%

Assessment Item 2:

• Assessment Type: Course Work

• Description: Group Presentation

• % Weighting: 50%