Changes to the Undergraduate Curriculum in Economics
Languages Literatures and Cultures
I am writing to you for information, comment and action about proposals approved
by Economics for sequenced changes to the Economics component and the normal
curriculum for the following undergraduate degrees programmes:
MA Arabic and Economics
MA Chinese and Economics
MA Economics and Chinese
We intend to make changes to the core Economics components of the curriculum at
Honours and non-Honours level. I briefly summarise the intended changes and the
required alterations in the DPT entry for each programme for 2014-15.
For the “Economics and Chinese“ programme the changes are for comments, while
for the “Arabic and Economics” and “Chinese and Economics” programmes we
request that you approve our intended changes at your School Board of Studies.
At the end of the document I provide a more detailed rationale for these changes.
1. Non-Honours Reforms
Statistical Methods for Economics replaces Issues in Global Economics as a 20 credit
semester 1 course. Statistics is withdrawn from Economics 2 and replaced by maths
as Economics 2 and Economics 1 become calculus-based treatments.
These proposals aim to ensure that students who enter Honours in Economics have a
more secure grasp of economic analysis and mathematical and statistical methods,
while redistributing other learning outcomes from existing non-Honours courses
elsewhere in the core curriculum
If approved changes to first year would occur in 2014-15, to second year in 2015-16,
with knock on changes for Honours courses in 2016-17.
2. Honours Reforms
It is proposed that Topics in Economic Analysis 1 be replaced by Topics in
Microeconomics and that Applications of Economic Analysis be replaced by Topics in
Macroeconomics, as these names better reflect the course content. Also it is
proposed that Topics in Economic Analysis 2 be replaced with Topics in Economic
Analysis.
These proposals are for students entering Honours from 2014-15 onwards.
Ric Holt, Convenor School of Economics Undergraduate Board of Studies
MA Arabic and Economics
Changes in Bold
For the 2014-15 session the requested modifications to years 1-4 of the DPT for MA
Arabic and Economics are:
Year 1:
Remove “ECNM08005 Economics 1A” and replace with “ECNM08013 Economics 1”
Year 2: add the following note:
“Candidates entering the second year of the programme from 2015-16 onwards
will take the following required courses ECNM08006 Economics 2 and ECNM08015
Statistical Methods for Economics, IMES08006 Arabic 2 and IMES08037 Modern
Middle Eastern History B: Postwar Independence and Conflict”
Year 4
Remove ECNM10050 Topics in Economic Analysis 1 and replace with ECNM10070
Topics in Microeconomics.
Remove ECNM10053 Applications of Economic Analysis and replace with
ECNM10069 Topics in Macroeconomics.
For reference the intended normal curriculum for years 1-4 for entrants to the MA
Arabic and Economics from 2014-15 is (Intended Changes in Bold)
Year 1
Economics 1
Arabic 1a
Arabic 1b
Islamic History: From the Origins of Islam to the Age of Suleyman the Magnificent
Year 2
Arabic 2
Economics 2
Statistical Methods for Economics
Modern Middle Eastern History B: Postwar Independence and Conflict
Notes: Entry into third year normally requires a mark of 50% or above in Economics 2
and Arabic 2 at the first attempt and a mark of 50% or above in Statistical Methods
for Economics.
Year 3
IMES Dissertation Part 1
Arabic Language Acquisition Through Residence/Study (Full Time)
Arabic Coursework Essay
Year 4
Topics in Macroeconomics
Topics in Microeconomics
Essentials of Econometrics
Arabic 4
Arabic Oral
IMES Dissertation Part 2
20 credits of level 10 Economics courses from Schedule W, as available.
MA Chinese and Economics - Changes in Bold
The requested modifications to the DPT for MA Chinese and Economics for the 201415 session are:
Year 1:
Remove “ECNM08005 Economics 1A” and replace with “ECNM08013 Economics 1”
Year 2: add the following note:
“Candidates entering the second year of the programme from 2015-16 onwards
will take the following required courses ECNM08006 Economics 2 and ECNM08015
Statistical Methods for Economics, ASST08018 Chinese 2A or ASST08018 Chinese
2B and 20 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as
available. ”
Year 4
Remove ECNM10050 Topics in Economic Analysis 1 and replace with ECNM10070
Topics in Microeconomics.
Remove ECNM10053 Applications of Economic Analysis and replace with
ECNM10069 Topics in Macroeconomics.
Alter the list of available level 10 courses in Economics (Schedule W) to read as in
MA Economics and Chinese – the current list for MA Chinese and Economics is of
courses that are NOT open to students doing joint degrees in Economics.
For reference, the intended normal curriculum for entrants to MA Chinese and
Economics from 2014-15 is (Intended Changes in Bold)
Year 1
Economics 1
Chinese 1
40 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as available.
Year 2
Chinese 2A or Chinese 2B
Economics 2
Statistical Methods for Economics
20 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as available.
Notes: Entry into third year normally requires (i) 240 credits, (ii) a mark of 50% or
above in Economics 2 at the first attempt, (iii) a mark of 50% or above in Statistical
Methods for Economics, (iv) a mark of 50% or above at the first attempt in Chinese
2A or 2B.
Year 3
Chinese 3 Year abroad
Chinese Special Subject 3
Chinese History 3 or Chinese Literature 3
Year 4
Topics in Macroeconomics
Topics in Microeconomics
Essentials of Econometrics
Chinese Language 4a
Chinese Language 4B
Chinese Oral
Chinese Special Subject 4
20 credits of level 10 Economics courses from Schedule W, as available.
MA Economics and Chinese – For comment - (Changes in Bold)
This programme is in the process of being withdrawn, but there may still be students
enrolled so the following modifications to the DPT for MA Economics and Chinese for
the 2014-15 session are planned:
Year 1:
Remove “ECNM08005 Economics 1A” and replace with “ECNM08013 Economics 1”
Year 2: add the following note:
“Candidates entering the second year of the programme from 2015-16 onwards
will take the following required courses ECNM08006 Economics 2 and ECNM08015
Statistical Methods for Economics, ASST08018 Chinese 2A or ASST08018 Chinese
2B and 20 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as
available. ”
Year 4
Remove ECNM10050 Topics in Economic Analysis 1 and replace with ECNM10070
Topics in Microeconomics.
Remove ECNM10053 Applications of Economic Analysis and replace with
ECNM10069 Topics in Macroeconomics.
For reference the intended Normal Curriculum for entrantsin MA Economics and
Chinese from 2014-15 is (Intended Changes in Bold)
Year 1
Economics 1
Chinese 1
40 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as available.
Year 2
Chinese 2A or Chinese 2B
Economics 2
Statistical Methods for Economics
20 credits from Level 7 and 8 courses in Schedules A to Q, T and W, as available.
Notes: Entry into third year normally requires (i) 240 credits, (ii) a mark of 50% or
above in Economics 2 at the first attempt, (iii) a mark of 50% or above in Statistical
Methods for Economics, (iv) a mark of 50% or above at the first attempt in Chinese
2A or 2B.
Year 3
Chinese 3 Year abroad
Chinese Special Subject 3
Chinese History 3 or Chinese Literature 3
Year 4
Topics in Macroeconomics
Topics in Microeconomics
Essentials of Econometrics
Chinese Language 4a
Chinese Language 4B
Chinese Oral
Chinese Special Subject 4
20 credits of level 10 Economics courses from Schedule W, as available.
Rationale and Synopsis
1. Non-Honours changes
1.1 Current Situation
Presently any student taking a degree involving Economics takes the following set of
core economics courses in their first two years:
Year 1:
Year 2
Economics 1A (40 credits)
Economics 2 (40 credits) – Probability and Statistics embedded
Issues in Global Economics (20 credits, Sem 1)
Synopsis:
Economics 1A and Economics 2 provide a 2 year sequenced coverage of economic
analysis (at the level of intermediate texts) – we can’t cover this in one year as we
only require 40 credits of Economics courses. Probability and statistics are covered in
second year (as part of Economics 2 with dedicated lectures and tutorials) in order to
lay the groundwork for third year econometrics courses. Mathematics is embedded
within Economics 1A and Economics 2, students are encouraged to self-study
relevant mathematical material (e.g. calculus or constrained optimisation) as
required to understand particular applications in economic analysis – but there are
no maths tutorials. Issues in Global Economics is less technique driven than the other
two core courses and is designed to illustrate the usefulness of economic principles
in a variety of applied contexts.
Problems with the current set up:
1. Student surveys reveal that students in later years wish they had had more
formal training in mathematics during the non-Honours years.
2. Large numbers of students do not engage with the statistics component of the
Economics 2, preferring to pass by focussing on the economic aspects of the
course. Our present solution to this is a bit messy – a new requirement to obtain
a pass in the statistics elements of the Economics 2 exam. Having a separate
course would simplify these arrangements, force students to focus on stats and
allow a broader coverage of stats in assessment leading to better prepared
students.
3. Students often find Economics 1A and Economics 2 rather dry, and yet many
struggle to engage with Issues in Global Economics at this stage in their studies.
4. Economics 1A has very high enrolments (around 550 students) and students are
heterogeneous (in terms of previous knowledge of maths and economics and in
terms of incentives to study). Around 250 students per year are initially enrolled
on degrees involving Economics – these students have some knowledge of
calculus and around half have some prior knowledge of Economics – but the
majority on Economics 1A take it as an outside course.
5. Because of the absence of mathematics and statistics courses from the normal
curriculum, Junior Year Abroad students sometimes struggle with the
mathematical content of courses, and Personal Tutors sometimes have to spend
a significant amount of time detailing the maths / stats content of our nonHonours courses to enable our better students to enrol on courses that we
require at the host institution.
1.2 Proposed Changes to Non-Honours Core Courses
Year 1 Economics 1 (40 credits)
Maths embedded, Applications Embedded
Year 2 Economics 2 (40 credits)
Maths embedded, Applications Embedded
Statistical Methods for Economics (20 Credits, Sem 1)
Synopsis:
Statistical Methods for Economics replaces Issues in Global Economics as a 20 credit
semester 1 course. Statistics is withdrawn from Economics 2 and replaced by maths
as it and Economics 1 become calculus-based treatments.
Rationale:
Of the two (maths and stats), we think that at first and second year level it is easier
to make direct use of mathematical tools in the standard curriculum in
microeconomic and macroeconomic analysis, and so are proposing that statistics be
covered in a standalone course, while maths is more formally embedded within
Economics 1 and Economics 2 with tutorial support.
With a dedicated 20 credit course in statistics we should be able to cover more
ground in year 2 – particularly if students are obliged to engage with the material
because a pass at a particular level is required for entry to Honours. This might allow
us to cover more in the core econometrics courses in Junior Honours, where Joint
Honours students do not presently study IV or panel data, and students wishing to
undertake dissertations using time series techniques seem underprepared.
Economics 1 and Economics 2 become a 2-year calculus-based treatment of
Economics, with learning of mathematical methods supported by weekly maths
tutorials in semester 1 (in addition to Economics tutorials).
The increased and more explicit mathematical content would act as a signal to
students the technical nature of the subject, which would enable students who find
this approach not to their tastes or abilities to seek alternative degree programmes
at an earlier stage (reducing mismatch). It should also reduce the size and extent of
(maths) heterogeneity in Economics 1 – with unqualified and/or disinterested
students being directed instead towards the non-core companion course Economic
Principles and Applications (which has no maths pre-requisite).
Semester 2 would contain extra tutorials offering in depth applications of the core
economic principles and analysis covered in lectures – this would allow some of the
learning outcomes Issues in Global Economics to be covered within the new nonHonours core. The applications tutorials would also attempt to reduce the apparent
dryness of Economics 1 and Economics 2, by tying the applications to the content
and technical rigour of Economics 1 and Economics 2 in a way that is not possible
with Issues in Global Economics given its current entry requirements and sequencing
within the programme structure.
The more formal treatment of mathematical methods are indicated in the “Intended
Learning Outcomes” on the course DRPS entries, in course syllabuses and will be
clear from the nature of the examination questions. These materials should make it
easier for Personal Tutors to convey students’ (expected) knowledge to Year Abroad
host institutions.
Honours Entry Criteria
Would need to be altered to require (at least) a pass in Statistical Methods in
Economics and to remover reference to the current Issues in Global Economics and
stats component of Economics 2 requirements.
We would need to highlight these Honours entry criteria to students. I would suggest
that we do not impose the restriction that the pass be obtained at the first attempt.
2. Changes to Honours Core Courses
Here we propose name changes to more accurately reflect the current content of
these courses.
All students reading for an Honours degree in Economics (Single or Joint) take Topics
in Economic Analysis 1, Applications of Economic Analysis (and Essentials of
Econometrics). Students studying abroad in Junior Honours take equivalent courses
or if suitable courses are unavailable they are obliged to take our core courses upon
their return.
When these courses were first created they each contained both microeconomic and
macroeconomic topics. As such, some students felt that the courses were disjointed.
It was also quite difficult to find suitable equivalent courses for year abroad students.
Their titles also give little clue as to the course content, which is problematic for
students applying to good graduate schools, where advanced undergraduate courses
in microeconomics, macroeconomics and econometrics would be an advantage. In
fact, over the years the course content of Topics in Economic Analysis 1 has focussed
on advanced microeconomic analysis, while that of Applications of Economic Analysis
has focussed on advanced macroeconomic analysis.
So it is proposed that Topics in Economic Analysis 1 be replaced by Topics in
Microeconomics and that Applications of Economic Analysis be replaced by Topics in
Macroeconomics.
The elimination of Topics in Economics Analysis 1 means that we should rename
Topics in Economic Analysis 2. Although the content of this course presently focuses
on dynamic macroeconomic theory we might want to retain flexibility over content.
So it is proposed that Topics in Economic Analysis 2 be replaced with Topics in
Economic Analysis.
These proposals are for implementation for students entering Honours from 2014-15
onwards.
Ric Holt, Convenor School of Economics Undergraduate Board of Studies