UDECNMFY - BSc (Hons) Economics (including foundation year)

The foundation for the BSc Economics (IFY) programme is developed under the school of Social Sciences and Professions for students who wish to enter Higher Education and may have non-traditional qualifications, lower UCAS points or are mature students. It exemplifies the university strategy of inclusive learning, widening participation, the aims of ESFJ and serving our community, as the majority of our students are local. The students will explore of social science and current affair themes, whilst also developing the academic and digital literacies that will benefit them in the following three years of study. To support success, the programme runs an extensive “assessment care package” that guides students at all stages through assessments.

About the BSc Economics course, its strategy towards teaching and learning and towards blended learning/e-learning.

This BSc Economics course provides students with an in-depth knowledge and understanding of theory, methods and application in Economics and develops their ability to use critical reasoning in a variety of economic contexts. They develop a broad range of skills which enhance their employability and personal development. The Economics Team at London Met has a strong research base and a thriving alumni community that helps maintain links with employers and City institutions.

The course uses the Bloomberg suite for teaching delivery and assessment tasks and enables students to join the elite group of Bloomberg users around the world. The course also enables the development of expertise in the use of packages such as Eviews, Stata, SPSS and Business Simulation to analyse economic and financial data.

The course adopts an approach to teaching and learning based on practices that have been agreed across undergraduate courses at Guildhall School of Business and Law, and aims to develop knowledge, subject-specific skills and transferable skills necessary for students to become confident, creative & connected professionals.

Students’ learning is initiated and directed through formal contact time with the teaching team in lectures and seminars. Students are expected to develop their learning through class attendance as well as through reading, writing, problem-solving and other learning activity outside class. Students learn both individually and in groups and use case studies, presentations and learning exercises to develop and demonstrate their understanding. Critical thinking is developed throughout the course through individual and group activity.

Lectures and seminars are important activities that develop cognitive skills. Lectures provide students with good subject specific information and clear guidance on how best they can learn. Module teaching is structured so that students first acquire basic knowledge and then progress to develop higher level skills of evaluation and synthesis. Seminars encourage student reflection, engagement and participation. They give students the opportunity to test their understanding and to make mistakes in a supportive environment. Seminar and small-group learning activities typically require students to carry out independent work prior to formal class and to work cooperatively in groups.

Numerical, mathematical, statistical and econometric skills are introduced and developed in core quantitative modules at levels 4 and 5 and the application of these methods is supported and enhanced in other core modules. From 2024 start a specific module on Maths and Stats for economics was introduced to produce a solid foundation in these tools. Students learn how to obtain, manipulate and interpret key economic data series and they are able to extend quantitative and research skills at level 6 in the project module and through option choice. Also, starting in academic year 2024/25 a module Political and Social Aspects of Economics was designed and introduced to strengthen students’ knowledge base in economic history, political economy, economic reasoning, public speaking skills, and address the current events in the market.

Practical skills are developed through the use of student presentations in seminars/tutorials, and through independent activities undertaken by students who reflect on, develop and present work for formative assessment by the tutor. Initiative and independence are developed progressively through the four levels of the course, so that students learn to take greater responsibility for their work, culminating in their level 6 project.

With respect to blended learning, all modules make use of virtual learning environment platforms (WebLearn) in which module lecture and seminar material, module and course handbooks and other material are made available. Other ICT resources include links to key web resources, on-line learning games, test questions and previous examples of assessments with feedback.

Students are able to gain experience of a real-world business environment through the alternative core work-related learning modules to be selected by students.

Students may transfer between the BSc Banking and Finance, BSc Economics and Finance, BSc Economics and BSc Economics, Finance and International Business at the end of Levels 3 and 4 without loss of time.

An inclusive learning environment anticipates the varied requirements of learners, while raising aspirations and supporting achievement for people with diverse requirements, entitlements and backgrounds.

BSc Economics course aims:

1: Our graduates will have the confidence needed to take leadership decisions in challenging situations.

2: Our graduates will possess the necessary communication skills that will help them adopt a global and multicultural perspective in their professional context.

3: Our graduates will be cognisant of the effects of the social and environmental effects of their decision, and will remain active citizens of the places they live and work.

4: Our graduates will demonstrate application of creative thinking skills to practical problems, and possess the analytical and organizational skills to translate creative ideas to operational solutions

5: Our graduates will have sufficient knowledge in the core discipline areas included in their Economics course.

6: Foundation level prepares students for successful progression to undergraduate study by developing core academic, digital and research skills, confidence in independent learning, and familiarity with the expectations of Higher Education.

7: Foundation level enables students to begin developing a disciplinary identity in Economics by exploring real-world social and economic issues, reflecting on their interests and strengths, and gaining early awareness of academic, professional and career pathways.

ULO: Demonstrate confidence, resilience, ambition and creativity and will act as inclusive, collaborative and socially responsible practitioners/professionals in their discipline.

LO1. Have the confidence needed to take leadership decisions in challenging situations.

LO2. Possess the necessary communication skills that will help them adopt a global and multicultural perspective in their professional context.

LO3. Be cognisant of the effects of the social and environmental impact of their decisions and will remain active citizens of the places they live and work.

LO4. Demonstrate knowledge and understanding of economic concepts, principles and theories, and appreciate the research literature in relevant areas, with awareness of the possibility that many economic problems may admit of more than one approach.

LO5. Understand and appraise the microeconomic issues of decision and choice, the production and exchange of goods, the pricing and use of inputs, the interdependency of markets, the relationships between principals and agents, and economic welfare; and the macroeconomic issues of employment, national income, the balance of payments, the distribution of income, economic growth, financial and business cycles, and the role of money creation, banking and the financial system in the economy, society and the environment.

LO6. Demonstrate proficiency in quantitative methods and computing techniques and know how to use these techniques and methods effectively across a range of problems, and understanding of the sources and content of economic data and evidence and of those methods that might be applied appropriately to the analysis of such data

LO7. Understand and evaluate the historical, political, institutional, international, social and environmental contexts in which specific economic analysis is applied.

LO8. Demonstrate possession of cognitive abilities, subject-specific skills and transferable skills necessary to become confident, creative and connected Economics professionals and citizens.

LO9. Apply economic reasoning and critical thinking to real-world problems, integrating ethical considerations and evidence-based analysis to formulate policy recommendations and business strategies.

Economics (March 2023)

Subject Benchmark Statement: Economics (qaa.ac.uk)

Finance (2025)

Subject Benchmark Statement: Finance (qaa.ac.uk)

A range of assessment methods are used across each level of the course, reflecting the range of learning outcomes at each level and the diversity of learning styles amongst students. In each module the assessments methods chosen are those best-suited to measuring the achievement of that particular module’s learning outcomes.

For instance, essays are used in modules where learning outcomes include the development of writing skills, referencing, synthesis and critical evaluation. Group work is used in modules where co-operative skills are being developed. Case studies are employed where students are learning how to apply economic analysis to particular scenarios or organisations. Other methods or assessment include: individual presentations, coursework problem sets and mini-projects, group reports, in-class tests, seen and unseen exams.

Student learning outcomes include building their skills in understanding sustainability challenges, grasping the role of AI and Big Data as breakthrough technology in economic growth projections, and the concepts of sustainable economic development. Students also learn to apply Artificial Intelligence to a range of concepts and evaluate its implications.

Priority is given to methods of assessment consistent with timely formative feedback, either in the development stage of the work or as soon as possible after the assessment has been completed.

On some modules formative feedback on drafts of essays may be provided before essays are handed in. The University aims to provide feedback on the first assessment component within two weeks of submission, and for subsequent assessment components within three weeks of submission.

Unseen and seen examinations are also seen as an important tool for assessing the achievement of learning outcomes and the maintenance of academic standards.

Assessed work experience modules provide students with practical experience and the opportunity to apply academic learning in real-world settings. They help develop key employability skills and offer valuable insight into industry practices and professional environments.

At Level 5, students can choose from three alternative core 15-credit work-based learning modules:

MN5W55 Learning Through Work - For those looking to gain experience from undertaking and reflecting on work-based projects related to your career interest.

MN5W50 Creating a Winning Business - Ideal for those seeking to understand how entrepreneurial knowledge can benefit those seeking employment or for those interested in how to be self-employed. Includes a short work-based project

WL5W50 Empowering London: Working within the Community - For students interested in how societal issues affect London, including gaining work experience supporting a charity or community organisations.

Students can also apply for the option to extend their degree to a four-year programme by completing a full Year in Industry module (MN6W04) after successfully finishing Level 5. This provides in-depth, real-world experience, professional-level skills development, and opportunities to build networks, helping graduates stand out in a competitive job market.

The course draws on external links with banking and finance practitioners in the City and elsewhere in the UK. These links give rise to University and GSBL public lectures, external speaker seminars and other meetings of interest to undergraduate students. These events throughout the course provide opportunities for students to gain knowledge and experience from outside the University.

Students are able to study at various universities in Europe, usually for one semester, as part of the new Turing scheme. In the past the related Erasmus+ students have visited the Universities of Lund, Perugia and Montpellier amongst others.

There are no course specific regulations.

Modules are required to be taken as indicated in the course structure.

Students are encouraged to reflect on their personal development throughout the course. They are introduced to personal development planning in the academic skills seminars in FY3000 Foundation Year Programme at level 3, and in FE4051 Introduction to Financial Markets and Institutions at level 4 and they are thereafter encouraged to plan the development of their skills and employability throughout their course.

Students are provided with support for the development and reflection on professional skills and develop their presentational and team-working skills in a number of modules across levels of study. Where particular skills are developed in particular modules, lecturers and course tutors make this process explicit to students to enhance reflection.

The language modules allow students the option of developing skills in languages such as German, French, Spanish or Arabic.

The final-year dissertation module requires students to carry out research and assessment work which incorporates work-based skills and professional standards.

QAA Frameworks for
Higher Education Qualifications (FHEQ) (2014)

The Frameworks for Higher Education Qualifications of UK Degree-Awarding Bodies (qaa.ac.uk)

Taking this course opens up a wide range of career opportunities. In the past BSc Economics graduates have found employment in international companies and public sector organisations. A sizeable proportion also progress to postgraduate study.

The Careers Development and Employment Service is a university-wide resource made available to students which provides information about labour market opportunities and career development.

Students are given a “Careers” talk during Welcome Week at the beginning of level 4. The University careers advisor then gives career presentations in core lectures in all four levels of the course and also runs careers and CV forums which students are encouraged to attend.

Students are also introduced to the local Careers and Employability team within the School and the placements service it provides. They are encouraged to plan early for their work-related learning module alterative core modules at Levels 5 to assist students in finding work placement opportunities. The course leader, with the support of academic staff contributing to the course, provides information about career opportunities, and the Careers and Employability team assists students to find beneficial part-time work and/or internships.

Across all levels students are encouraged to engage with the career development and employment skills resources within London Metropolitan's Gateway to Success Weblearn unit.

Gateway to Success: Embedding the gamified tasks in-class to encourage students to engage with the Careers Services and get recognition. The Gateway offers students employability activities such as getting CV feedback, writing professional emails and study skills such as Harvard referencing. (Students can also register for Gateway modules as optional modules, in addition to using the Gateway Weblearn organisation – they can be referred to in the module list as Extension of Knowledge modules)

Guest speakers organised by the School of Business & Law and student societies bring students into contact with finance specialists and business managers from both national and international organisations. These meetings give students the opportunity to know more about future career paths and the best strategies to pursue their own career aspirations.

In addition, students are encouraged to participate in extra-curricular activities including involvement in peer coaching of students, receiving professional mentoring, volunteering in the not-for-profit sector, joining or setting up student society and national competitions / activities including University Business Challenge.

The Student Enterprise team helps students to launch student businesses and support student entrepreneurship. It provides students with one-to-one advice sessions, networks, knowledge and resources to get started. The Student Enterprise Team come into relevant module classes to present on how the student could set up their own business or develop a freelancing career or alternatively recognise the benefit of having an entrepreneurial mindset to enhance their value to graduate employers.

A degree in economics can open up a wide range of careers. Here at London Met, we have economics graduates who have gone on to find roles in consultancy, government, research and international corporations.

You will also be well-prepared to undertake a further study at postgraduate level.

In addition to the University's standard entry requirements, you should have:

• a minimum of 32 UCAS points
• English Language and Mathematics GCSE grade C/4 (or equivalent)