Economics, Politics and International Relations with a Year in Business

Core Modules

Year 1

You will take the following modules in Economics:

• Principles of Economics

  Principles of Economics is a first-year undergraduate module in how the economy works. The module is suitable for students with or without A-Level economics or equivalent. We will cover the basic theories of macroeconomics (that of the economy as a whole) and microeconomics (the behaviour of individuals, firms and governments and the interactions between them).

  The module adopts the state-of-the-art CORE approach (Curriculum Open-access Resources in Economics) to teaching Principles of Economics. The approach has three pillars which we rely on throughout the module:

  • Formulate a problem that our society is facing now or has faced in the past;
  • Build a theory to explain and solve the problem;
  • Evaluate the usefulness of the theory by using data observations and more novel theories.
• Data Skills for Economists

  Data Skills for Economists is about understanding the data we encounter constantly in everyday life and the data that social science researchers create as they explore and analyse the world around us. We'll endeavour to understand such questions as:

  • Where does data come from and how can we harvest it?
  • What useful information does the data contain?
  • How can we create new data to generate useful insights?

  Computers equipped with statistical software are a big part of the answer to the third question (above) so, accordingly, you'll spend much of your time learning to analyse and display data using the R statistical software package (R is the industry standard).

  We'll develop an ethos of clear communication of numerical information that will be supported by our growing understanding of statistical concepts and our growing proficiency with computers.

  Simultaneously, we'll delve into the seamy underside of the tricksters who try to fool you with falsified data. Understanding their game can provide at least some degree of inoculation against their attacks.

• Mathematics for Economics

  The aims of the module are to cover the basic mathematical and quantitative tools used by economists every day. The module gives an emphasis to the mathematical tools, which are applicable to solving a wide range of economic problems. The first half of the module is devoted to linear algebra, specific functions of one and more variables used in economics, manipulating those functions and finding their minima and maxima. In addition, the first half of this module delivers the rules of integration and differentiation, which prepares the you to apply constrained and unconstrained optimisation techniques in their subsequent 2nd and 3rd year of studies. Constrained and unconstrained optimisation techniques are also discussed. The second half of the module is devoted to optimisation theory which in turn will use the concepts of vectors and matrices, drawn from linear algebra, and require the study of concave functions. The knowledge of matrices will help you solve systems of linear equations, which are used in both microeconomic and macroeconomic planning and forecasting.

• Employability 1

  This module will be composed of an introduction to Employability, library resources, team building, and CV making. Career services will provide a session on self-awareness and decision making and library services will present their relevant resources. Finally, the Economics department will organise some team building exercises.

You will take the following modules in Politics and International Relations:

• Introduction to Politics and Government

  This module will introduce you to the academic study of politics and to the ‘real world’ of contemporary politics. As a foundational course, it will give you all the essential tools to understand the nature of politics and analyse the way different political systems work. You will be introduced to key concepts such as politics, power, rights, ideologies, democracy and representation, and will learn about the different actors, institutions and processes that make up politics today.

• Introduction to International Relations

  This module offers a broad introduction to theory and history in international relations since 1870. You will look at a variety of different theoretical lenses, ranging from orthodox to critical perspectives, in order to understand events from the collapse of the Bismarckian European order and the origins of World War 1 to the contemporary War on Terror. Along the way you will also explore the origins and the end of the Cold War, decolonisation and the End of Empire, the rise of international institutions, humanitarian intervention and new security issues.

Year 2

You will take the following modules in Economics:

• Macroeconomics

  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.

• Employability 2

  Career services will provide a session on how to be ready to apply for an internship at the end of the second year. Students will prepare for a psychometric test and will undertake a series of a mock interviews in order to improve their interview technique. Finally, students will attend at least one Econ@Work talk to be aware of professional life and challenges.

You will take one of the following modules:

• Microeconomics

  In this 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.

• Microeconomics

  In this module you will develop an understanding of the behaviour of individuals and firms in the economy. You will look at models of individual optimisation and their applications, considering the key determinants of an individual’s behaviour in a variety of circumstances. You will examine the behaviour of firms in different market environments such as perfect competition, monopoly and oligopoly, and the factors which are important in shaping the decisions that firms make in each market environment. You will learn to manipulate and solve diagrammatic and algebraic models of microeconomics, analysing the properties of competitive markets and assessing the role of government intervention in correcting market failures.

Year 3

• Year in Business

  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.

Year 4

• Employability 3

  This third-year course will deepen the elements covered previously in Employability 1 and 2. Career services will provide a session on how to be ready for employment at the end of the year. Students will prepare for a psychometric test and undertake a series of mock interviews in order to improve their interview technique. Finally, students will attend at least one Econ@Work talk to be aware of professional life and challenges.

Optional Modules

There are a number of optional course modules available during your degree studies. The following is a selection of optional course modules that are likely to be available. Please note that although the College will keep changes to a minimum, new modules may be offered or existing modules may be withdrawn, for example, in response to a change in staff. Applicants will be informed if any significant changes need to be made.

Year 1

• All modules are core

Year 2

Optional modules in Politics and International Relations may include:

• Understanding the European Union: Politics and Theory

  In this module you will analyse the contemporary politics of the European Union and its institutions, amid the challenges of the triple crisis of economics, migration and Brexit. You will learn about the political history of European integration after 1949 and the contemporary theory of European integration. The first term will begin with an introduction to the European Union as a political system followed by an overview of the European Union's historical development. The second term will focus on contestation of the European Union and the theories that underpin this, in order to explain how the EU developed and the challenges that it faces. Topics will include Euroscepticism, party politics, public opinion, Brexit and EU-UK relations, and European Parliament elections. The theory sessions comprise of federalism, neo-functionalism, liberal intergovernmentalism and the new institutionalisms.

• International Relations Theory

  Building on Introduction to International Relations, this module explores the key thinkers and debates in International Relations Theory. You will become familiar with a variety of ways of thinking about International Relations, engaging with questions about the nature of power, identity, and ethics in politics and how these interact in the international realm. The module is divided into two parts. In the first, you will examine the three foundational theoretical paradigms within International Relations – realism, liberalism, and Marxism. The second part explores newer critical approaches to International Relations theory, including constructivism, post-structuralism, feminism, and uneven ecological exchange.

• Democracy in Britain

  I in this module you will develop an understanding of contemporary British politics. You will look at the ways in which British government has evolved, how it continues to operate, and why it operates in the way it does. You will consider the causes and consequences of major political change in Britain and examine the underlying assumptions upon which theoretical disputes in political science are based.

• Contemporary Political Theory

  In this module you will develop an understanding of some of the key concepts in political theory today. You will look at political obligation, civil disobedience, democracy, citizenship, equality, global justice, human rights, and freedom and toleration. You will consider important theorists including Berlin Rawls, Nozick, Sandel, Okin and Pettit, examining the recent major theoretical perspectives in the context of contemporary politics.

• International Political Economy

  In this module you will develop an understanding of the relationship between states and markets, power and wealth. You will look at the key concepts and theoretical debates in International Political Economy, such as the globalisation of trade, finance, and production, the continued problems of development and democratic governance in the world economy, and emerging questions surrounding global flows, networks and spaces. You will consider the history of regimes, crises, and competing theories of political economy from the nineteenth century to the present day and examine how political institutions operate in international politics to regulate the creation of wealth, and who benefits from these arrangements.

• War and Security in World Politics

  In this module you will develop an understanding of security studies as a subfield of International Relations. You will look at the issue of war and it is/should be fought. You will consider the theories of security and how these have changed, especially in an age of terrorism, and examine a wide variety of security including nuclear weapons, drone warfare, genocide, and gun control.

• Modern Political Thought

  In this module you will develop an understanding of the themes, arguments, and interpretations of major political thinkers from the 17th, 18th, and 19th centuries. You will look at the works of Hobbes, Locke, Rousseau, Kant, Mill, Marx and Nietzsche and consider how the ideas articulated by these thinkers continue to underpin contemporary debates about the nature of freedom, human rights, value pluralism, popular sovereignty, state legitimacy, and the modern condition. You will also examine how study of these thinkers illuminates contemporary debates even where these debates no longer make reference to them.

• International Organisations

  In this module you will develop an understanding of the scope and limitations of global governance. You will look at the creation of international organisations and the role of states in this process, how different organisations are designed, and the effectiveness and functioning of different types of organisation. You will consider the role of international organisations in creating policy, pursuing organisational objectives, and altering the relations between actors at various levels. You will also examine the significance of major challenges for global governance, such as countering international terrorism, policing organised crime, and preventing the proliferation of weapons of mass destruction.

• Introduction to Political Communication

  In this module you will develop an understanding of how citizens, politicians and the media interact across Western democracies during both electoral and governing periods. You will look at the production and consumption of political news, consider election campaigns and their effects, and examine contemporary debates in political communication, including ethical issues.

• Politics Outside the West

  In this module you will develop an understanding of the most important features of the history of the development of the non-West. You will look at the distinctive political dynamics characterising the contemporary non-West and consider the thoughts of prominent non-Western political thinkers.

Year 3

• All modules are core

Year 4

Optional modules in Economics may include:

• 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.

• 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.

Optional modules in Politics and International Relations may include:

• Politics and/or International Relations Dissertation

  The dissertation offers you the opportunity to pursue independent research in a topic of your own choosing with the support of an academic supervisor working one-to-one with you. You will develop your own research question and research strategy, explore the scholarly debates surrounding your topic, and advance your own thesis that interprets or challenges the way your topic has been understood. You are encouraged to use a variety of quantitative or qualitative methods and theoretical approaches as appropriate to the field you are exploring.

• Politics in Action

  In this module you will combine participation in a workplace environment for one day a week during term time (and three days a week for each term's reading week) with scholarly reflection on the nature of the organisational, professional, and policy contexts of the placement. Your placement will be in an organised setting such as Parliament, local government, the office of an MEP, NGO, campaigning or activist organisations, a political party, a media organisation, or the policy or communications division of a local company working in a relevant field.

• European Union Public Policy

  In this module you will develop an understanding of regulation in the European Union, including delivery of policy and administration. You will look at how the world's largest market operates, with a focus on EU public policy, including de-regulation, re-regulation, budgets and spending. You will examine the concept of the single market, the Euro and its crisis, justice, home affairs and counter-terrorism, the EU budget, agriculture, regional development, and social and environmental policies.

• Power and Money in the European Union
• Radical Political Theory
• The British in India: a Social and Political History
• US Foreign Policy
• Comparative Foreign Policy
• Young People's Politics
• Leadership, Power and the British Prime Minister
• Visual Politics
• Understanding China's Rise: Domestic Politics and Foreign Policy
• Global Energy Policy
• Refugees and Migration in World Politics
• American Political Development
• The Politics of Russia and Eastern Europe
• The Politics of International Development
• Political Theories of Freedom
• Defence and Security Governance
• Military Change in the 21st Century
• Leaders and Political Communication
• Global Healthy Policy
• Political Protest