BA (Hons) Economics

This module has three distinct but constituent sections. After a week of introduction, its first part, made up of five weeks of lectures, deals with different key thinkers in economics and the schools of economic thought that they gave rise to. The focus of this section is to present important Economists, their core ideas, and discuss why their viewpoints are so different. The student will be introduced to Adam Smith, David Ricardo, Karl Marx and Alfred Marshall. Through this sequence the student will become aware of different systems of analysis in the field of economics and start her/him thinking of the different frameworks of economic theorising.

The neoclassical school, following the work of Alfred Marshall, will be presented last indicating that the next two sections will be primarily concerned with tools and analytical arguments emanating from this tradition. The next seven weeks will be on microeconomic theory. In contradistinction with the plurality of the first part of the module, this part will focus on deductive reasoning used in mainstream rational choice and perfect competition theory. The module will cover preference theory, demand and supply, income and substitution effects, cost and revenue curves, perfect competition and partial equilibrium theory. This progression will end with a description of general equilibrium and the two welfare theorems. The focus here is the internal consistency of neoclassical microeconomics as exemplified in rational choice theory and competitive markets, and its combination of mathematical methods and deductive logic.

The last seven weeks will be on macroeconomics. In this section the focus will be on the following specific concepts: national accounting, inflation, unemployment and business cycles. The analysis of these concepts will be through the use of contemporary schools of economic thought (New Classical, New Keynesian, Post Keynesian, Austrian and Monetarist) and their analytical frameworks. By viewing these concepts through these different frameworks, the student is introduced into open ended discussions on these topics as different answers are equally valid as long as students can clearly identify the theoretical frameworks that he/she is using. This section’s purpose is also to introduce topics that will be investigated at greater length in the second year of the programme.

This module introduces students to economic reasoning and basic issues in economic methodology.

The module starts off with a concise introduction to key questions in the philosophy of science, such as explanation, laws, inductive and deductive reasoning, verification and falsification, scientific paradigms, and theories and models. These tools are then used to discuss the epistemological status of economics.

The following two weeks are devoted to what economics studies, and how. Competing definitions are presented, with a special focus on production and exchange paradigms, and the types of reasoning associated with them (economic change and systemic coherence vs. equilibrium and optimal allocation).

The next two weeks focus on levels of analysis (micro, macro, and intermediate) and methodological issues associated with them, such as individualism vs. holism.

The fourth part of the module addresses the dichotomy, which has divided economic analysis since the Methodenstreit, between general principles and historical contingency. It discusses the divide between economic theory and economic history, as well as possible ways ahead.

The last two weeks are devoted to rationality. They cover classical rationality, forms of bounded rationality, the problem of determination and freedom, and possible ways to overcome existing dichotomies and limitations.

This module complements the Economic Reasoning module, and compares the viewpoint of economics with that of sociology, psychology, management and politics.

The first two weeks are devoted to key themes in the philosophy of the social sciences. The remainder of the module consists of four two-week “workshops”, each devoted to the possible interfaces between reasoning in economics and another social science.

In each workshop, the first session is led by a guest lecturer from the relevant department, and raises questions such as, what is this discipline’s viewpoint? What makes it different from other disciplines? What methodologies does it use? What is its view of the social world?

The second session, led by this module’s convener, relates the first session to economics, also by discussing insights from classic works in the discipline that have direct relevance for economics.

This module introduces the mathematical methods used in the analysis of modern economics. This module is suitable for students both with and without an A Level in Mathematics (or equivalent). Students will revise and apply the basic concepts from algebra and differential calculus to relevant economic problems. Furthermore they will learn partial derivatives and second partial derivatives of functions of two or more independent variables, constrained and unconstrained optimization. The students will be taught how to use these tools in economic applications.

This is the first of two modules delivered in collaboration between our Centre for Academic Language and Literacies (CALL) and your academic department. Learning will be comprised of a lecture series coordinated by CALL and available online via your virtual learning environment or face-to-face if you want to come to campus. Weekly seminar series will be delivered by your home academic department and together you’ll work through the course activities and tailor them to your subject. 

These modules are designed to allow you to understand your own identity and how this has been constructed, take agency over your learning and development and understand how the environment around is changing and developing in the future. These are some of the core elements of a Goldsmiths’ education and reflect the 8 strategic principles which all of our degrees have been designed to reflect and include. 

At the end of the modules, you’ll have learnt how to read critically, evidence your arguments and relate ideas and practices to individual career interests. In the second term, you’ll learn how to formulate research goals, identify themes, concepts and theories relevant to addressing research questions, conduct effective investigations to establish and defend focused, persuasive arguments, and locate and fill gaps in logic.

These are all key building blocks to allow you to make the most of your time at Goldsmiths academically, socially and allow you to begin planning your learning and career development.

This is the second of two modules to be delivered in collaboration between our Centre for Academic Language and Literacies (CALL) and your academic department. Learning will be comprised of a lecture series coordinated by CALL and available online via your virtual learning environment or face-to-face if you want to come to campus. Weekly seminar series will be delivered by your home academic department and together you’ll work through the course activities and tailor them to your subject.

These modules are designed to allow you to understand your own identity and how this has been constructed, take agency over your learning and development and understand how the environment around is changing and developing in the future. These are some of the core elements of a Goldsmiths’ education and reflect the 8 strategic principles which all of our degrees have been designed to reflect and include.

At the end of the modules, you’ll have learnt how to read critically, evidence your arguments and relate ideas and practices to individual career interests. In the second term, you’ll learn how to formulate research goals, identify themes, concepts and theories relevant to addressing research questions, conduct effective investigations to establish and defend focused, persuasive arguments, and locate and fill gaps in logic. 

These are all key building blocks to allow you to make the most of your time at Goldsmiths academically, socially and allow you to begin planning your learning and career development.

This module builds on the first year Introductory Economics module and the Mathematics and Statistics for Economics and Business module to give a more in depth perspective of microeconomic theory and its technical apparatus.

The first six weeks give an overview of the technical and theoretical analysis that forms the core of the neoclassical theory of consumption, production and market interaction. It introduces the following topics: choice under uncertainty, inter-temporal choice, incomplete and asymmetric information, principal-agent problem, basic game theory, dynamic and static oligopoly, price differentiation, markup pricing and market concentration.

In contrast, the rest of the module focuses on aspects of microeconomic behavior that do not conform to rational choice theory as developed in traditional neoclassical economics. Each week will explore a different alternative approach, icluding: Simon’s Bounded Rationality, Sen’s Capability Approach, Behavioural Economics.

The module aims to provide a good understanding of the key areas of macroeconomics, through the analytical tools of different schools of thought.

This module covers the evolution of macroeconomic analysis through a succession of key models, including Keynesian, Monetarist, New Classical, Real Business Cycle, New Keynesian, and Post Keynesian approaches. It studies the analytical details, the underlying economic assumptions, and the historical context in which they emerged. It also provides an introduction to structural theories of business cycles. You study economic growth and economic development, explaining the differences between the two and using historical examples. Classical, Keynesian, and neoclassical theories, as well as structural dynamics are discussed.

The final two weeks are devoted to the political economy of economic policy, from the viewpoint of different schools of thought: controversies on the effectiveness of fiscal and monetary policy, individual rationality applied to policy decisions, economic and political disagreements, models of voting on macro-policy, and recent developments.

This module introduces the quantitative methods used by economists in their empirical work. You will be technically trained in estimation theory, and introduced to broader questions regarding the use of these tools in applied analysis.

You study the basic properties of the normal distribution, and the difference between the normal and other types of probability distributions. You also learn hypothesis testing and the basic theory for linear regressions and the use of ordinary least squares in empirical analysis. Furthermore, you will learn about problems that may arise with this estimation method.

This is followed by two weeks of methodology on statistics for the social sciences, and a philosophical discussion on the appropriate use and limits of these techniques in analysing social phenomena.

This module will focus on the application of quantitative theory using data sets that you were introduced to in the Quantitative Economics module.

With the guidance of the lecturer and associate lecturers, you will find and collect appropriate data (from Eurostat, OECD, UK and other national governments databases, etc.), form a research question and come up with statistical tests in order to test your hypothesis. You will then write a report that explains your findings and the reason you used this specific estimation tool in relation to your data set. An integral part of this is to consider the limitations of your statistical toolbox in analyzing the specific data set, and more broadly, the limitations of statistical analysis in answering policy or theoretical questions.

An important part of this module is to train you in using computer packages to analyse real data. Students will learn to use computer programs to run regressions, do hypothesis testing, correlation analysis and, more generally, analyze the raw data you have collected.

This module builds on the first year module, Introductory Economics, by discussing, in depth, key theoretical insights from alternative schools of economic thought. This objective is achieved by focusing on a canon of key texts in the history of the subject, and tracing the evolution of the ideas emanating from, or strongly related to these texts, through time. The five main texts analysed are: Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy and Taxation, Alfred Marshall’s Principles of Economics, Wicksell’s Interest and Prices and John Maynard Keynes’ The General Theory of Employment, Interest and Money. Each text is used as a starting point for a discussion on the evolution of the following economic concepts: specialisation and gains from trade, distribution theory, theory of the firm, theory of money, and the theory of aggregate macroeconomic relationships. Finally, the module discusses the link between past and contemporary economic thought, contextualising it within a broader perspective that includes points of view such as those of feminist economics and from geographically diverse traditions, and the use of these theoretical structures in analysing contemporary economic problems.

This module will help students to develop a career plan and prepare for their employment search. It will cover practical aspects such as writing a CV, a cover letter and application forms and developing an internet presence through websites such as Linkedin. It will give students the tools to prepare for interviews, including case interviews, assessment centres, and psychometric tests. It will cover the development of soft skills such as leadership and networking skills as well as the development of commercial awareness through business case studies. The students will also be introduced to current theories of career development and employability.

Lots of students join Goldsmiths because they want to make a difference in society, to bring about positive change and develop skills and experiences which will allow them to access exciting careers. Goldsmiths’ Social Change module will allow you to do work on group projects with students from other departments to bring about change. You’ll be introduced to the UN’s Sustainable Development goals and core project management theories and practices allow you to work across a number of weeks towards a final Festival of Ideas where you’ll report work back to the academic and local community.

This module gives you an understanding of the international economy that integrates the real and monetary sides, and the economic and the political spheres. Different traditions of economic analysis will be used to shed lights on three main issues: the European Union and the Eurozone, China’s trade policy, and the international monetary system since Bretton Woods.

The first five weeks concentrate on trade. They cover the standard tools (comparative advantage, neoclassical trade theory, and new economic geography) as well as analytical and historical perspectives on international competition. It focuses on different insights concerning economic analysis and policy, as well as the integration with the political dimension.

The last five weeks focus on the international monetary system. By combining the standard tools of international macroeconomics with historical and analytical perspectives, the aim is to understand the evolution of the international monetary system since Bretton Woods, and its effects on national economies. Special attention is given to currency areas, especially the Eurozone, and to the connection between monetary arrangements and real and political aspects.

This module extends your knowledge on key microeconomic topics and gives you an interdisciplinary perspective. It focuses on social questions and introduces, in a critical manner, the types of answers economic theory provides. The four core questions investigated are:

• What goods should the government provide, and how should this provision be funded?
• How do we account and care for future generations?
• How do we deal with environmental issues?
• How does the government decide what action to take in a democratic society?

This module helps you develop key communication and presentation skills, in particular articulating economic ideas to economists and non-economists alike. The module focuses on case studies, which may include anti-trust legislation, macroeconomic reports on the UK, or any other applications of economic analysis.

You will learn to use PowerPoint effectively, present graphs, statistical findings and do background research to prepare for a presentation. Throughout the module, you are encouraged to write letters about economic issues to newspapers and to comment in well-known economics blogs.

This module combines resources from three fields of economic theory: macroeconomic analysis, history of economic thought and economic history.

The first seven weeks focus on six episodes in economic history, ending with the current (post 2007) crisis. The writings of different schools of economic thought are used and contrasted in order to see how different theorists understood and analyzed the crises and the types of solutions they offered to solve them. Discourses from outside economics (from psychology or/and sociology or/and anthropology) will also be utilized as competing interpretations that explain different aspects of these crises not captured by economic analysis.

Finally, the last three weeks will focus on the general concept of economic crises, and related concepts of risk and uncertainty, and discuss how these events alter our understanding of the workings of the market economy.

This module compares and contrasts the behaviour of individuals and institutions. It provides a more detailed understanding of the various levels of analysis that you have encountered throughout the degree and provides an applied discussion of the issues surrounding methodological individualism, including the social construction of the individual from different geographical and disciplinary traditions.

The first eight weeks of the module cover four levels: i) the individual; ii) firms and organisations; iii) the state; and iv) the supranational and international level.

The last two weeks are devoted to how individuals and institutions cope with uncertainty. The view of uncertainty as risk is integrated and contrasted with theories of strong and fundamental uncertainty, as well as perspectives from other social sciences.

This module explores the role of gender and race in areas of relevance to economics and management. You'll analyse gender and racial relations through both theoretical and methodological analyses, and look at how this relates to households, businesses and the wider economy.

You'll be introduced to multi-disciplinary theoretical viewpoints and use academic literature and everyday communication tools such as practitioner reports, blogs, podcasts and tweets. You'll gain the skills to critically evaluate current economic relations from a gendered and racial lens, develop suggestions to tackle current inequalities and communicate key insights to a wider audience with the help of a podcast.

Modules will be divided into two parts. The first part of each lecture will consist of introducing you to different theoretical viewpoints (e.g. stratification economics) and methodological approaches (e.g. social network analysis) while the second gives you the chance to take part in discussions of real-life case studies, and share your ideas through presentations with the class an element of their everyday life and its connection to conceptualizations of gender and race. 

The module will start with providing definitions of the concepts of gender and race and how these apply to management and economics, followed by weekly topics. Internalising the concept of de-disciplining (Ndlovu-Gatsheni, 2021), the weekly topics will be arranged according to different levels of institutional analysis (micro-, meso- and macro) and provide insights from diverse disciplines when explaining economic relations at this level of analysis. The particular focus lies in exploring how structural and normative constraints impact everyday economic relations and how these could be overcome. While the first eight weekly topics will be determined by the lecturer, you'll get the opportunity to input into the curriculum yourself, and help to choose the last two topics.