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Economics (BSc) (Full-Time, 2021 Entry)


UCAS Code
L100

Qualification
Bachelor of Science (BSc)

Duration
3 years full-time (or 4 years with study abroad)

Start Date
27 September 2021

Department of Study
Department of Economics

Location of Study
University of Warwick


Economics is the study of choice, investigating the choices of consumers and corporations, groups and governments, networks and nations. It plays a part in every aspect of modern life, using scientific methods to develop theoretical models of behaviour and testing intuition with empirical analysis of markets, institutions and public policy. Teaching in the Department is research-led, meaning you’ll be learning from some of the best-known academics in the UK.


Course overview

This comprehensive degree will develop your skills in microeconomics, macroeconomics and econometrics. It will teach you to abstract and simplify economic problems, both empirically and theoretically, developing a deep knowledge of global and local economic trends, institutions and policies. The degree focuses on research-led teaching and so we will expose you to research from the very start.

The flexible degree structure means you can choose from many optional modules within our Department, and from outside departments. These include Law, Mathematics, Business and Languages.

Throughout the degree, you’ll have many opportunities to apply the principles of economics to practical study. This means that what you are learning is highly relevant to real-world issues. This is something we also emphasise through our 360 guest lecture series. This gives you the chance to engage with policymakers, practitioners and influential decision makers.

In your final year, you'll complete an undergraduate research project. You can explore a topic that particularly intrigues you, bringing together many of the tools and techniques you have learnt.


Course structure

The first year consists of four core modules and up to two options. The second year includes three core modules and up to two options. The third year comprises up to six options and a core Research in Applied Economics project.

Within your course regulations, we will permit you to choose modules from any Department. This is subject to our approval and provided that you satisfy the pre-requisites or other requirements for that module and that the offering department permits you to take the module.

The final degree classification is determined by your second and final year marks and each contributes 50%.


How will I learn?

You will have a combination of lectures, small group support and feedback classes.


Contact hours

You will receive approximately 3 hours of contact time per day, making 15 hours on average per week.


Class size

Your lecture size will naturally vary, especially for the optional modules, but also for core lectures.

Some of the larger modules may have 200-450 students in them. You will then typically have weekly support and feedback classes with around 15-20 students.


How will I be assessed?

You will usually have more formative assessments in year one than in years two and three.

The typical module in years one and two is based 20% on coursework and 80% on the final examination, but assessment weights and methods do still vary. This is even more the case for final year modules, where the assessment methods vary widely depending on the modules chosen.


Study abroad

We currently offer an exciting range of opportunities for you to spend a year abroad. You can study in a higher education institution either in Europe, at the University of Monash in Australia, or with our partners in China and Canada. Studying overseas can add immeasurably to your personal development, future study and career opportunities. It will also offer you an opportunity to experience an alternative university system.

If you’re successful in gaining a Study Abroad placement, your degree programme will become a four year programme and, assuming you pass sufficient modules whilst abroad, the title of your course changes to add the suffix 'with Study Abroad' to the existing title (e.g. 'BSc Economics with Study Abroad').

General entry requirements

Our selectors value a breadth of subjects. You should therefore avoid subjects with significantly overlapping curricula where possible - for example, Economics and Business Studies.

A level:

  • A*AA to include A in Mathematics.

IB:

  • 38 to include 6 in Higher Level Mathematics (either ‘Analysis and Approaches’ or ‘Applications and Interpretation’).

BTEC:

  • We welcome applications from students taking BTECs alongside two A levels, including A level Mathematics.

Additional requirements: You will also need to meet our English Language requirements.


International Students

We welcome applications from students with other internationally recognised qualifications.

Find out more about international entry requirements.


Contextual data and differential offers

Warwick may make differential offers to students in a number of circumstances. These include students participating in the Realising Opportunities programme, or who meet two of the contextual data criteria. Differential offers will be one or two grades below Warwick’s standard offer (to a minimum of BBB).

Find out more about contextual data offers for Economics.


Warwick International Foundation Programme (IFP)

All students who successfully complete the Warwick IFP and apply to Warwick through UCAS will receive a guaranteed conditional offer for a related undergraduate programme (selected courses only).

Find out more about standard offers and conditions for the IFP.


Taking a gap year

Applications for deferred entry welcomed.


Interviews

We do not typically interview applicants. Offers are made based on your UCAS form which includes predicted and actual grades, your personal statement and school reference.

Year One

Macroeconomics 1

You will consider the fundamental determinants of national income, employment, price level and the foreign balance in the short- and long run within a framework of active learning of economic theory and modelling. By the module’s end, you should have become familiar with a range of macroeconomic issues, including topics as varied as data sources, theories of consumption and investment, government finances, the Phillips curve, and international markets. You will be able to use the correct terminology and measurement practices of macroeconomics. There will be opportunities to apply your learning by devising simple structural models, including definitions, assumptions and the behavioural characteristics of key agents, using both mathematical and graphical techniques.

Microeconomics 1

On this module, you will gain a thorough grounding in the basic principles of microeconomics and study several applications of theory, with the aim of being able to demonstrate your knowledge of major topics, including supply and demand, consumer theory and behavioural economics, competition, profit maximisation and cost minimisation, oligopoly and collusion, and the work of the major theorists Bertrand, Cournot and Stackelberg, including game theory. You will learn to use appropriate terminology in a wide range of more advanced topics relevant to microeconomics, such as Nash equilibria, asymmetric information and moral hazard.

Quantitative Techniques

This module combines three modules together; Mathematical Techniques, Statistical Techniques and Computer and Data Analysis. You will cover topics ranging from algebra and calculus to distributions and hypothesis testing. By the end, you will have acquired the skills to understand economic data and have the ability to use a statistical package to analyse data.

The World Economy: History and Theory

Have you ever considered how the global economy got to be where it is today? In this module, you will acquire a broad understanding of the development of the world economy over the last millennium, focusing on the success and failure of several key countries and regions. You will take the long view of changes in global income and population, and critically examine the forces that explain the success of leaders and the obstacles that have hindered economic advance. You will scrutinise the interaction between rich countries and the rest of the world, and consider the role of domestic issues and foreign policy on economic outcomes. Our aim is that you will complete this module with a strong understanding of the historiography of the evolution of the world economy and the ability to apply key macroeconomic theories on growth, trade and business cycles. There are also opportunities to pursue areas of individual interest.

Plus up to two optional modules

Year Two

Macroeconomics 2

On this module, you will learn to understand and apply the core theoretical models used in macroeconomics, for both closed and open economies, in order to enhance your comprehension of real-world macroeconomic experiences, especially involving macroeconomic policy. By the end of this module, you should be able to present clearly and methodically your understanding of a variety of common theoretical models and their inter-relationships, including through the use of equations and graphics. We will typically cover all major areas, including but not limited to, flexible pricing and sticky-price models; consumption and growth; wage-setting and unemployment; fiscal and monetary policy; international trade and exchange rate systems; and international financial markets.

Microeconomics 2

You will gain a solid understanding of intermediate and some advanced principles of microeconomics and be exposed to a range of applications of theory. You will spend time on the use of mathematical concepts in the field for analysis, and cover important principles of general equilibrium and social welfare, market failure, choice and uncertainty, and static and dynamic games of complete and incomplete information. By the end of this module, you will be able to analyse a range of microeconomic concepts, using a range of approaches, including graphical and mathematical techniques and apply your knowledge to policy issues and to the analysis of different sectors.

Econometrics 1

You'll be equipped with important skills of both academic and vocational value, being an essential part of the intellectual training of an economist and also useful for your future career. This includes an awareness of the empirical approach to economics; experience in analysis and use of empirical data; understanding the nature of uncertainty and methods of dealing with it; and using econometric software packages as tools of quantitative and statistical analysis. With the required necessary skills and knowledge to critically appraise work in applied economics, you'll have a good grasp of the dangers, pitfalls and problems encountered in applied modelling.

Plus up to two optional modules

Year Three

Research in Applied Economics

You will have the opportunity to deepen and consolidate your knowledge by applying your understanding of economic theory to a research question that arouses your curiosity. You will use a combination of economic analysis and statistical and econometric techniques to formulate and pursue your research interest, supported by lectures on research methodology and supervision by a member of academic staff, who will support your research towards an independent project. The work will increase your confidence in formulating economic questions, and the scientific method of developing a suitable approach, conducting a literature review and data searches, identifying and testing hypotheses and using your findings to construct coherent, persuasive scholarly arguments, presented in both written and oral form.

Plus up to six optional modules

Examples of optional modules/options for current students:

  • Environmental Economics
  • Behavioural Economics
  • Topics in Applied Economics
  • The Industrial Economy
  • Political Economy
  • World Politics
  • Organisational Behaviour
  • Foundations of Finance
  • International Security
  • Languages

Tuition fees

Find out more about fees and funding


Additional course costs

There may be costs associated with other items or services such as academic texts, course notes, and trips associated with your course. Students who choose to complete a work placement will pay reduced tuition fees for their third year.

Your career

Graduates from these degrees have gone on to work for employers including:

  • Accenture
  • Amazon
  • Bank of America Merrill Lynch
  • Bloomberg
  • Centrica
  • Department for International Trade
  • HSBC
  • Investec
  • PwC
  • Santander UK
  • Teach First
  • UBS
  • Unilever

They have pursued careers such as: analysts; associate consultants; advertising accounts managers and creative directors; business and financial project management professionals; chartered and certified accountants; economists; finance and investment analysts and advisers; management consultants and business analysts; quality assurance technicians and taxation experts.


Helping you find the right career

Our department has a dedicated professionally qualified Senior Careers Consultant who can support you. They offer impartial advice and guidance together with tailored workshops and events throughout the year. Previous examples of workshops and events include:

  • Careers in Economics Event
  • Investment Banking Uncovered
  • Warwick careers fairs throughout the year
  • Mock Assessment Centre workshops
  • Manage your digital identity and use LinkedIn effectively

Find out more about careers support at Warwick.

Emer, second year Economics student

"If I had to sum up my experience of Warwick in one word, I would say ‘rounded’. The structure of the course means that we study many different aspects of economics, whilst retaining the ability to tailor our degree to our own interests.

We are also taught and assessed in many different skills, including essay writing, mathematical and statistical techniques, and computing.

The mix of established theory and new research taught through the course means that I will graduate with a rounded knowledge of the subject."

Emer

Year 2, BSc Economics

This information is applicable for 2021 entry. Given the interval between the publication of courses and enrolment, some of the information may change. It is important to check our website before you apply. Please read our terms and conditions to find out more.