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2024/25 Undergraduate Module Catalogue

LUBS1953 Economic Theory and Applications for Finance

20 creditsClass Size: 240

Module manager: Peter Hughes

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2024/25

This module is mutually exclusive with

LUBS1940Economics for Management
LUBS1951Economic Theory and Applications

This module is not approved as a discovery module

Module summary

This module gives an introduction to the economic understanding of the world of individual choice, business behaviour, national level economic systems and government economic policy. This module will introduce basic economic models and understanding of relevant data to understand issues in economics and finance.


This module aims to introduce and assess the concepts of microeconomics and macroeconomics and explore the application of these theories to issues and problems of consumption, production, exchange as well as output, employment, inflation and investment and finance.

Learning outcomes
Upon completion of this module students will be able to:
1. Explain and critically apply the microeconomic concepts of consumption, production, exchange and efficiency
2. Explain and critically apply the macroeconomic concepts relevant to understanding the economy as a whole
3. Use models in microeconomics and macroeconomics to examine the partial and general equilibrium consequences of changes in the economy
4. Critically apply relevant economic models to resolve economic problems
5. Understand how economic analysis and concepts can be applied to the understanding of financial markets and investment decisions


Indicative content:
- Microeconomic analysis of a pure exchange economy using indifference curve analysis and the Edgeworth-Bowley box framework
- Concepts of scarcity, preference and choice, demand, supply, exchange, and equilibrium prices using these tools
- Production and supply in a production economy in partial equilibrium
- Pareto optimality and market failure in a general equilibrium framework
- Understanding unemployment, inflation, institutions, productivity, and the economy as a whole and the international economy
- Understanding key events and economic crises and how lessons from these events can help inform investment and financial decisions

Teaching methods

Delivery typeNumberLength hoursStudent hours
Independent online learning hours40.00
Private study hours132.00
Total Contact hours28.00
Total hours (100hr per 10 credits)200.00

Private study

The module will use a flipped approach, using a collection of interactive online materials for students to work on individually. This is supplemented by additional reading material. The online materials are then applied and reinforced in weekly seminars. Lectures are used to support students at the beginning, middle and end of each semester with module administration and formative feedback.

Opportunities for Formative Feedback

Weekly opportunity for online formative feedback based on questions embedded in online materials. This will be further supported during lectures with cohort level feedback can be tailored based on student performance in online materials.

Methods of assessment

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)1 hr 30 mins50.00
Standard exam (closed essays, MCQs etc)1 hr 30 mins50.00
Total percentage (Assessment Exams)100.00

The resit for this module will be 100% by 3 hour examination.

Reading list

The reading list is available from the Library website

Last updated: 14/05/2024


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