The core modules in Economics are:
Principles of Economics
In this module you will develop an understanding of the theories of macroeconomics, that of the economy as a whole, and of microeconomics, the behaviour of individuals, firms and governments. You will look at how the goods and assests markets underpin growth, inflation and unemployment, and the role that fiscal and monetary policy play in macroeconomic managemenet. You will examine the theoretical basis to supply and demand and the role of government intervention in individual markets. You will consider how to solve economic problems by manipulating a variety of simple diagrammatic and algebraic models in macro- and microeconomics, critically evaluating the models and their limitations.
Quanitative Methods of Economics
In this module you will develop an understanding of the basic mathematical, quantitative, computing and statistical tools for the study of economics. You will look at techniques such as algebraic manipulation, functions, simultaneous equations, optimisation, descriptive statistics, probability theory and regressions, and learn how to apply these to economic problems.
The core modules in Management are:
In this module you will develop an understanding of the formal economic, political and legal institutions, as well as cultural, religious, and linguistic differences that must be taken into account when conducting business across borders. You will look at how the global context in which companies operate has evolved over time, considering the role of foreign direct investment and internationalisation strategies. You will examine the motivations for entering a foreign market, the factors determining whether a company enters on their own or in partnership, the risks of entry and how they are analysed, and how companies negotiate with governments.
Markets and Consumption
In this module you will develop an understanding of how marketing can be seen as both an academic discipline and as a business practice. You will look at the role of the consumer as a stakeholder in an organisation, examining how they make consumption decisions. You will assess marketing as a business practice, considering how it has penetrated all sectors of the economy (private, public, and not-for-profit). In addition, you will learn about the sustainability of marketing practices in an increasingly globalised consumer society.
In this module you will develop an understanding of the basic concepts of accounting, examining its role in organisations and society. You will consider the basic components of financial statements, including income statement, balance sheets, and cash flow statements, and the procedures and techniques for the preparation of these. You will also look at the principles of financial decision making and how to analyse accounting information
In this module you will develop an understanding of organisation as a process and the organisation as an entity. You will look at key managerial activities, examining classical ideas about organisation with the context of nationalisation and humanisation. You will see how these ideas reappear, albeit in a modified form, in contemporary organisations, looking at organisational forms and modern management techniques such as culture management, emotional labour, and charismatic leadership. You will also consider Max Weber’s distinction of formal and substantive rationality and Anthony Giddens’ formulation of the duality of action and structure.
The core modules in Economics are:
In thid module you will develop an understanding of the models of individual optimisation and their applications. You will look at the key determinants of an individual’s behaviour in a variety of circumstances and the behaviour of firms in different market environments, such as perfect competition, monopoly and oligopoly. You will consider how changing circumstances and new information influences the actions of the economic agents concerned, and examine the properties of competitive markets and the need for government intervention to correct market failures.
In this module you will develop an understanding of macroeconomics and macroeconomic policy-making. You will look at a variety of contemporary and historical macroeconomic events, and the differences between the short, medium and long run. You will consider why some countries are rich and some are poor, why different economies grow at different rates, and what determines economic growth and prosperity. You will examine the role of monetary and fiscal policy, its impact on the economy and its limitations. You will also analyse how taxation, budget deficits, and public debt affect the economy.
The core modules in Management are:
In this module you will develop an understanding of the theories of strategic management. You will consider these theories in the context of contemporary business operations, including the political and regulatory frameworks, in response to technological change, financialisation, the development of new business models, and changes in the way corporate performance is assessed. You will look at key concepts and debates in the theory of corporate and business strategy, and examine the changing context in which corporate strategy is formulated and implemented.
Marketing Strategy in Context
In this module you will develop an understanding of the marketing strategies used by organisations. You will look at the elements of the marketing mix and their critical interrelationships, examining the competitive environment, customer insights, market information systems, business models, enterprise competencies, control, evaluation and innovation. You will also consider the sustainability of marketing practices in an increasingly globalised consumer society.
In this module you will develop an understanding of the technical and non-technical aspects of management accounting. You will look at traditional costing methods and techniques, such as contribution volume profit analysis (CVP), budgeting, responsibility accounting, transfer pricing, and decision-making, alongside more innovative management tools, including activity based costing (ABC), activity based management (ABM), and the balanced scorecard. You will examine the issues underlying pricing and product offering and consider the importance of quality and cost control as strategic objectives for improving organisational performance.
Human Resource Management
In this module you will develop an understanding of the significance of human resource management in organisations. You will look at the links between product market and human resourcing strategies, the role of human resources planning in workforce management, and polices such as employee participation and involvement, including the role of trade unions in employment relationships. You will examine the regulation of labour markets, employment discrimination and conflict and resistance at work. You will also consider specific human resources practices, such as recruitment and selection, training and development and pay and performance management.
This year will be spent on a work placement. You will be supported by the Placements Office and the Royal Holloway Careers and Employability Service to find a suitable placement. However, Royal Holloway cannot guarantee that all students who are accepted onto this degree programme will secure a placement, and the ultimate responsibility lies with yourself. This year forms an integral part of the degree programme and you will be asked to complete assessed work. The mark for this work will count towards your final degree classification.
The core modules in Management are:
Integrating Management - Business in Context
In this module you will develop an understanding of the key business and management activities, and the opportunities and challenges that arise from the external business context in the early 21st century. You will look at the business context from the perspective of selected corporate functions, and consider the social, environmental or ethical challenges companies face. You will examine how firms can address such issues and become familiar with appropriate courses of action.
Integrating Management - Leadership and Innovation
In this module you will develop an understanding of the innovation challenges that contemporary organisations face. You will look at innovative solutions to leadership problems, and consider how organisational systems contribute to innovation. You will examine the impact of different leadership styles. the merits of disruptive innovation, and analyse the extent to which excellent innovation and leadership affects organisational sustainability.
In addition to these mandatory course units there are a number of optional course units available during your degree studies. The following is a selection of optional course units that are likely to be available. Please note that although the College will keep changes to a minimum, new units may be offered or existing units may be withdrawn, for example, in response to a change in staff. Applicants will be informed if any significant changes need to be made.
Only core modules are taken
Only core modules are taken
Optional modules in Economics include:
Industrial Economics 1
In this module you will develop an understanding of the methods and models applied by economists in the analysis of firms and industries. You will learn how to manipulate these models and analytically solve problems relating to industrial economics. You will consider the applications of the models to important policy areas, exploring topics such as collusion, mergers, product differentiation and asymmetric information. You will also also examine the limitations of the theory.
Industrial Economics 2
In this module you will devlop an understanding of advanced topics in industrial organisation, with a special focus on the role that information plays in markets. You will explore topics such as collusion, mergers, product differentiation, and asymmetric information, and become familiar with a broad range of methods and models applied by economists in the analysis of firms and industries.
Financial Economics 1
In this module you will develop an understanding of the financial market, institutions, participants and traded assets that constitute a modern financial system. You will look at the theories of risk-factor pricing, such as the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT). You will consider the theory of, and empirical evidence on, efficient, markets and examine the process of price formation. You will also analyse the derivation and construction of efficient portfolios.
Financial Economics 2
In this module you will develop an understanding of the wide range of fixed income securities and derivatives available to investors in the financial markets. You will look at the basic institutional features of derivatives markets, as well as the pricing of bonds and of derivative instruments and using them for hedging purposes. You will consider investment and trading strategies that use bonds and derivatives, and evaluate the use of bonds in immunising portfolios based on the bond's duration. You will also explore the features and uses of the most popular types of derivatives available today, including options, futures, forwards, and swaps.
In this module you will develop an understanding of the theoretical properties of different econometric estimation and testing procedures under various modelling assumptions. You will learn to formulate, estimate, test and interpret suitable models for the empirical study of economic phenomena. You will consider how to apply regression techniques and evaluate the appropriateness of each econometric estimation method under different data limitations.
In this module you will develop an understanding of the theoretical properties of different econometric estimation and testing procedures under various modelling assumptions. You will look at regression techniquies and learn how to apply relevant econometric and statistical methods to your own research. You will also evaluate the appropriateness of each of the economic estimation methods and the impact of consider data limirations.
Understanding Financial Crises
In this module you will develop an understanding of the fragility of the financial system and its relevance to the current financial crisis. You will learn the economic meaning of the terms liquidity and solvency in the context of financial intermediaries. You will look at the models of equilibrium bank runs and consider the implications of imposing capital structure controls and liquidity control on financial intermediaries. You will also critically evaluate the links between financial crises and the macroeconomy.
In this module you will develop an understanding of how economic methods can be applied to environmental issues facing society. You will consider the difficulties arising in using economic analysis in environmental policy design and learn how to solve and manipulate a variety of diagrammatic and algebraic models in environmental economics. You will evaluate a number of real world environmental policy problems and see how economic analysis has been applied in their solution.
In this module you will develop an understanding of the use of experiments to test economic theories. You will look at how individuals make decisions in markets, how individuals decide to spend money today or save it for future spendng, the assumption of self-regarding preferences commonly made in standard economic models, and the ability to act rationally in a strategic environments. You will consider the issues raised by experimental design and critically evaluate the advantages and disadvantages of experimental methods.
In this module you will develop an understanding of the role of money in the economy. You will look at models where inflation show persistence, the theory of monetary policy, monetary policy operating procedures and the central banking machanisms. You will consider why inflation is persistent in the data and how the political forces affecting monetary policy making may affect inflation.
Topics in Game Theory
Advanced Economic Theory
Topics in Public Economics
International Economic History
In this module you will develop your understanding of important topics from economic history, covering periods of economic growth and wellbeing, agricultural and urban development, globalisation and migration, banking and monetary systems, and the Great Depression and recovery.
Topics in Developmental Economics
Advanced Topics in Game Theory
Economics of Inequality
Optional modules in Management include:
In this module you will develop an understanding of the nature of consumer behaviour, its relevance to the marketing environment, and impact on society. You will look at the internal and external factors which underpin consumer behaviour theories, and consider the impact of marketing strategies on these. You will also examine the the nature of consumption, markets, and culture, and evaluate the complexity of consumer behaviour.
In this module you will develop an understanding of the emerging markets, commercial realities, and national cultures within the context of the global economy. You will look at the strategic issues and dilemmas that managers face in their efforts to expand into emerging markets, and consider the commercial realities and national cultures of these. You will look at specific cases studies, including the economies of Brazil, Russia, India, China, Turkey and South Africa.
Asia Pacific Business
In this module you will develop an understanding of multinational business in the Asia Pacific, their worldwide operations, and their impact on Europe. You will look at the contemporary economic, political, and cultural contexts of the Asia Pacific nations, and consider the diversity of the business environments and business practices in the region. You will examine the factors that lay behind the rapid growth of the region in the last five decades, and use empirical evidence to analyse the operation, performance and impact of multinational enteprises originating from there.
In this module you will develop an understanding of how institutions, policies and processes have shaped the European Union and the European business environment. You will look at the key institutions, policies and processes involved in the widening and deepening of the union, and theories which explain its development. You will consider the national, regional and global influences on European business and examine the complex relationships between the EU and its major trading partners. You will also critically evaluate the challenges facing European countries, policymakers and businesses.
The Globalisation of Work
In this module you will develop an understanding of the impact of globalisation on work. You will look at the economic, political and institutional forces that shape the international mobility of work, and examine the complexity of managing people as work becomes increasingly boundaryless. You will consider the implications of a more integrated global labour market on work organisation, employment relations and national labour market institutions, and critically assess the challenges brought by the mobility of capital and the movement of people to the organisation of work in a global context.
Business in International Comparative Perspective
In this module you will develop an understanding of the key determinants of economic performance and the success of individual firms, industries and national economies. You will look at the achievements of the world's advanced economies, considering the character of their institutions and businesses, and examine the historical origins of differences in national institutions and corporate capabilities.
Brands and Branding
In this module you will develop an understanding of the nature of brands, branding, and the nature of the consumer society that we live in. You will look at different theoretical approaches to understanding brands and branding, and examine how branding theories are applied in marketing strategies.
In this module you will develop an understanding of the scope and nature of marketing planning, practice and theory in a global context. You will look at the evolution of the global market and consider current topical debates surrounding globalisation. You will examine the complexities of marketing operations and strategies in diverse geographical markets and evaluate the suitability of marketing strategies in addressing the contemporary global business environment.
Strategic Management Accounting
In this module you will develop an understanding of financial management control strategy. You will look at the dependencies and relationships between business models and operating architecture, capital structure, and off-balance sheet financing. You will conside the context of managing accounting in a changing environment, an evaluate the impact of mergers and acquisitions on businesses. You will examine strategic control tools and techniques such as responsibility accounting and transfer pricing, and assess the the relationship between product markets, internal organisation cost structures and capital market expectations.
In this module you will develop an understanding of the 'time value of money'. You will look at the main principles of finance theory and how these can be applied to commercial problems. You will consider the relationship between risk and return, and examine the valuation of equities, bonds and options and the relative merits of different approaches to choosing and valuing securities. You will evaluate the consequences of a proposed takeover or merger from the perspective of capital markets and assess the relevance of information efficiency.
Advertising and Promotion in Brand Marketing
In thid module you will develop an understanding of contemporary marketing communication management within an international context. You will look at how promotional campaigns are constructed by advertising agencies, and consider the complementarity and inter-dependence of discrete marketing activities within a strategic perspective by creating an outline promotional campaign. You will examine the complexity and salience of ethical issues in marketing and advertising, especially with respect to the wider social influence, and deconstruct promotional communications in terms of their likely intended segmentation and positioning rationale.
Clusters, Small Business and Entrepreneurship
In this module you will develop an understanding of how small companies can become internationally competitive. You will look at the theories of clusters, and apply them to the analysis of small and medium enterprises operating in different contexts. You will consider vertical and horizontal collaborative strategies, and their impact on firms' capabilities, resources, and performance. You will examine the relationships between small companies and multinationals, and the mechanisms through which small companies are linked to the global economy. You will also compare different clusters and assess the competitive advantages and disadvantages they generate for companies.
Social Media, Networks and Business
In this module you will develop an understanding of social networks and social media platforms from multiple perspectives. You will look at the growth of social media and the connectedness of the networked society, considering recent advances in network science, social psychology, and marketing. You will examine the role of social networking technologies in enabling business innovation and societal change, and critically assess positive and negative impacts of these technologies.
Entrepreneurship Theory and History
In this module you will develop an understanding of how enterprises have evolved and how the position of entrepreneurs has changed over the centuries under different regimes of state formation, institutional change and moral discipline. You will look at how political regimes have either facilitated or hindered entrepreneurship and examine the importance of temporal, geographical and structural issues in entrepreneurship history.
In this module you will develop an understanding of the theories and practices related to corporate entrepreneurship. You will look at the management of creativity and innovation in large organisations, as well as the processes and structures relevant to the successful appropriation of opportunities within a market context. You will also consider the barriers that constrain managers and their companies from being entrepreneurial, and examine conceptual and empirical evidence of corporate entrepreneurship from real world examples.
Innovation, Strategy and the Corporation
In this module you will develop an understanding of business innovation in the context of new ventures and corporations. You will look at how changes in technology, markets, and society are affecting how new business models, products and services emerge. You will consider innovation as a source of competitive advantage and examine the management of innovation, critically evaluating associated risks and uncertainty. You will also analyse past experiences and how they can be used to exploit future opportunities through innovation.
Accounting for Sustainability
In this module you will develop an understanding of contemporary issues in the theory and practice of accounting for sustainability. You will look at key issues in the growing ara of sustainability accounting including notions of accountability in the context of sustainability, cultural and religious perspectives on sustainability accounting, elements of sustainability reporting, and the role of accounting in embedding sustainability in decision making.
In this module you will develop an understanding of a number of diverse international and theoretical positions on corporate governance. You will look at the concepts of control, accountability and transparency within the context of corporate governance, and consider the the role of regulation and its comparative national context. You will examine new trends in emerging market business groups and multinationals and analyse prevailing debates on insider- versus outsider-controlled corporate governance regimes.
In this module you will develop an understanding of responsibility in the context of entrepreneurship. You will look at the entrepreneurial process and consider the inherent ambivalence of both new ideas and their unintended consequences. You will examine the concepts of social entrepreneurship, sustainable entrepreneurship, and minority entrepreneurship, and evaluate how new organisations emerge, grow, and approach responsibility challenges.
Marketing Ethics and Society
In this module you will develop an understanding of the scope and nature of marketing ethics. You will look at the complexity and interconnectedness of moral dilemmas in marketing practice and consider potential responses by stakeholders, such as consumers, businesses and governmental actors, to ethical marketing issues.