module specification

This module develops a framework for analysing important themes and events in the international economy such as globalisation, economic growth, economic crises, commodity markets and price volatility. Subsequently, students will get the opportunity to carry out further research on a chosen topic, undertake qualitative and/or quantitative analysis and write up a final research report. In order to undertake their research reports, students will need to hone specific skills such as econometric and statistical techniques, the ability to prepare business reports, develop case-studies and be able to understand research methodology and apply relevant analytical skills.

EC5004 Macroeconomics or equivalent

The module aims to:

1. cover important themes within the international economy e.g. globalisation, economic growth and volatility and address topical issues such as the role of multinational corporations, financial market crisis and emerging markets;
2. facilitate and support students in utilising personal resources and materials so that they can carry out independent research into an aspect of the international economy, using research methods appropriate to the task;
3. provide a forum where students are required to undertake, present and discuss their own research and analysis of a sector, region or a country;
4. develop the researching, analysing data, presenting data, communication, problem solving, interpersonal and creative skills necessary to write up a professional report.

The module also aims to develop students' skills, in particular: literacy; self assessment and reflection;
academic study skills; subject research; data analysis; applied analysis; interpersonal and team-working;
IT; entrepreneurship; career management; communication, including oral presentation;
critical thinking; and problem solving.

Topics will vary, but are likely to be drawn from the following list:

Economic globalisation and international business;
Development and international production
Foreign direct investment (FDI) 
Globalisation and Emerging Markets
The global financial crisis
The economics of environmental impact.
The Information Economy
Corporate governance and social responsibility

The module also introduces research methods elements such as project planning, development, reporting, and statistical and econometric techniques. The development of independent research and self-directed learner skills is also promoted so students can investigate and use knowledge to provide concise analysis and evaluation of specific issues and problems related to economic, business and finance.

Teaching and learning will take place through a set of structured activities and independent work. The structured activities are organised around 55 hours of contact time that will include 20 weeks lectures (2 hours long) where students will be introduced to global economic issues, the principles of economic investigation and reporting of economic analysis; research methods and quantitative analysis and a set of 15 seminars (1 hour long). The seminars will be used for discussion of global economic issues, student presentations and workshops on quantitative and economic analysis. Meetings with external speakers from businesses, banks and the public sector where students will have the opportunity to experience actual examples of economic analysis and reporting will also be organised.

Students will be trained to analyse and critically discuss some crucial contemporary economic issues. Current hot topics in the economic debate may include high government debt, exchange rate policy, global financial crises, unemployment, the euro-zone crisis, global environmental policy, trade barriers, and FDI. Students will also engage in for and against policy debates, in both their presentations as well as in the final research report. Inititative and independence are developed progressively through the module such that students are required to take greater responsibility of their work.

The final 10 weeks of teaching will be earmarked for regular meetings with the lecturer/ project supervisor to discuss the progress of the project reports. These structured activities will be complemented by the student’s own independent work on the chosen topic. This should amount to a total of 145 hours dedicated to the search, collection, manipulation, representation and analysis of information. The student’s learning will take place in terms of the use of the knowledge accumulated in previous modules and in terms of the progression through the module’s higher order skills.

Career Development is embedded in the module with the promotion of career development opportunities such as internships and work experience, networking, job application, interviews, and inter-cultural communication. Professional development and how to progress in an organisation and achieve career goals is further discussed through guest lecture series.

On successful completion of this module, students will be able to:

1.  explore issues facing actors in the international economy using a combination of theory, descriptive statistics, empirical studies and policy discussion;
2. organise relevant learning materials and apply appropriate research methods, consistent with personal development planning and employability, so as to analyse a topical event in the globaleconomy in detail;
3. be competent communicators of complex ideas and analysis in business, economics and finance through written and oral expositions;
4. carry out independent and scholarly research, investigating and using knowledge to provide analysis and evaluation of specific issues and problems related to the analysis of significant economic, business and financial problems
5. demonstrate learning strategies and methods which provide independent learning capabilities required for continuing professional development;
6. demonstrate life and career development awareness, including vision and personal awareness.

The assessment strategy is developed with the aim of testing the module's learning outcomes and consists of a group presentation with artefacts, an in-class test and a final research project.

The first part of the assessment requires groups of two students to identify and explore an issue in the international economy. They will give a presentation to explain and present their analysis and findings. This will test their ability to focus on and analyse an issue related to the global economy. Students will be expected to demonstrate an understanding of a particular theoretical framework through which the critical examination of an issue can proceed. There will also be a problem-solving component to the work, designed to get students to work creatively.
Students have periodic opportunities to receive formative feedback on their assessement (for example, the in-class test and presentations) and on the assessment of other students (for example in students presentations). When students orally present this provides an opportunity for students to receive early formative feedback and, thus, for  for self reflection and personal development.

The second part of the assessment will be an in-class test that requires students to: demonstrate depth of subject knowledge and understanding; use cognitive skills of analysis, synthesis, evaluation, and application; and be critically aware. As for its design, the in class test will give students the opportunity to learn how to work effectively under a tight time constraint. This will contribute to the development of important employability skills such as time management, effective written communication and synthesis abilities.

The final component of assessment requires students to complete a research report. Students must demonstrate depth of subject knowledge and understanding; use cognitive skills of analysis, synthesis, evaluation, and application. They must draw on a range of sources, employing different information search strategies and they are required to present and critically discuss their findings.

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