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.
In this module you will develop an understanding of how economists think about current world problems, such as generational inequality or the 'other' side of Adam Smith. You will look at how economic growth and wealth is created, and how it is influenced by technological change and institutions. You will examine how this wealth is distributed most efficiently, including situations such as who gets a kidney from a donor or which firm gets a licence to offer mobile phone services. You will also considerintergenerational inequality, including how economists think about tuition fees and university funding in general.
You will take one of the following modules in Spanish:
Spanish: Intensive Spanish for Beginners 1
This is your core Spanish language module (beginners’ pathway). It is taught intensively in five weekly seminar hours. The first three hours are devoted to work on reading, writing and listening comprehension skills combining both in-situ exercises with homework revision that students will have prepared for the day. The fourth hour is reserved for oral practice, which happens in the form of debates, role plays or text commentaries. The fifth hour is a grammar lecture in which new verb tenses and grammatical structures are introduced.
Spanish: Spanish 1
This is your core Spanish language module in which you will develop your skills in writing, speaking and comprehending the Spanish language. There are three hours of seminars per week well as a grammar lecture taught fortnightly. Teaching is done in small groups and conducted largely in Spanish. The module consists of a combination of textual analysis and grammar consolidation, combining in-situ exercises with homework revision; grammar work; lexical work and oral and listening work to develop lexical and communicative skills through the use of varied media such as the use of audio-visual aids, oral presentations and debates. You will take part in group discussions and have the chance to develop and practice your presentation skills.
Spanish: Spanish 2
This is your core Spanish language module in which you will continue to develop your skills in writing, speaking and comprehending the Spanish language. It consists of a combination of textual analysis and grammar consolidation, combining in-situ exercises with homework revision; grammar work; lexical work and oral and listening work to develop lexical and communicative skills through the use of varied media such as the use of audio-visual aids, oral presentations and debates. Through oral practice you will have the opportunity to take part in group discussions and have the chance to develop and practice your presentation skills.
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.
Quantitative Methods in Economics 2
In this module you will develop an understanding and practical experience of the essentials of empirical research techniques used by applied economists. You will learn how to use and distinguish between standard econometric techniques, and carry out formal statistical tests of economic hypotheses. You will manipulate and analyse data sets and conduct your own econometric investigations, both written and using computer software.
You will take on of the following modules in Spanish:
Spanish: Intensive Spanish for Beginners 2
This is an intensive course with four hours per week of contact in each term, plus an extra hour of oral practice. The first two hours are devoted to work on reading, writing and oral skills combining in-situ exercises with homework revision that you will have prepared for the day (usually a journalistic text). The third hour is reserved for the listening comprehension exercises which sometimes take place in language laboratories. The last hour is a grammar lecture in which new verb tenses and grammatical structures are introduced and subsequently put into practice during the next two hours of the following week.
Spanish: Principles and Practice of Translation from Spanish to English and English to Spanish
Classes will focus on a piece of Spanish or English from a literary or (quality) journalistic source. You will be required to draft an English or Spanish translation of it in preparation for the class, which will be spent discussing the relative merits of different versions. Some time will be devoted to vocabulary acquisition and the consideration of professional translations too.
The core module in Spanish is:
Spanish: Spanish 3
This is your core language module in Spanish, in which you will continue to develop your skills in writing, speaking and comprehending Spanish. It is taught entirely in Spanish, and takes the form of a combination of formal grammar lectures and seminars focused on written and oral skills. The module concentrates on textual analysis and grammar consolidation, combining in-situ exercises with homework prepared in advance; grammar work: theory and practice; lexical work. You will deliver presentations in Spanish and take part in debates. You will also refine your knowledge of aspects of contemporary Spanish by studying films, podcasts, news broadcasts and other audiovisual aids.
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
Home and EU students tuition fee per year 2018/19*: £9,250
International students tuition fee per year 2018/19**: £16,500
Other essential costs***: There are no single associated costs greater than £50 per item on this course
How do I pay for it? Find out more about funding options, including loans, grants, scholarships and bursaries.
*The tuition fee for UK and EU undergraduates is controlled by Government regulations, and for students starting a degree in the academic year 2018/19 will be £9,250 for that year. The UK Government has confirmed that EU students starting an undergraduate degree in 2018/19 will pay the same level of fee as a UK student for the duration of their degree.
**Fees for international students may increase year-on-year in line with the rate of inflation. The policy at Royal Holloway is that any increases in fees will not exceed 5% for continuing students. For further information see fees and funding and our terms and conditions.
***These estimated costs relate to studying this particular degree programme at Royal Holloway. Costs, such as accommodation, food, books and other learning materials and printing etc., have not been included.