Bachelor of Science (BSc)
3 years full-time (or 4 years with placement)
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 and this degree has a particular focus on business and industry.
Encompassing many aspects of our pure Economics degree, this challenging degree is ideal if you also have an interest in business and industry. It focuses strongly on the application of economic theory to corporate decision making, while providing a solid grounding in the broader scope of economics.
You will study and learn within the Department of Economics and will also study bespoke modules taught by Warwick Business School, focused on the interaction between economics and its applications within business and industry. The degree focuses on research-led teaching and so we will expose you to research from the very start.
In your first and third years you’ll be able to choose from many optional modules both within and outside of the Economics Department, helping you to pin down your own areas of academic interest.
In your final year, you’ll be able to follow your curiosity further by completing a Research in Applied Economics project on a topic of particular interest.
The first year consists of four core modules and up to three options. The second year has five core modules and no optional modules. In the third year, there are two core modules and up to four optional modules and a research project.
Within your course regulations, we will permit you to choose any year-specific option offered by any department in the University, 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.
You will receive approximately 3 hours of contact time per day, making 15 hours on average per week.
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.
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*AA to include A in Mathematics.
- 38 to include 6 in Higher Level Mathematics (either ‘Analysis and Approaches’ or ‘Applications and Interpretation’).
- 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.
We welcome applications from students with other internationally recognised qualifications.
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).
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).
Taking a gap year
Applications for deferred entry welcomed.
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.
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.
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.
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.
Foundations of Finance
The module will introduce you to the key concepts of Finance, giving you good preparation to study more advanced modules in related disciplines. It will teach you the main theories and models of Finance (and the assumptions that underpin them), enabling you to apply these theories to the financial press that you are encouraged to read daily. You will cover topics including present value of expected future cash flows, estimating the cost of capital, the Efficient Markets Hypothesis, Interest-rate parity and purchasing power parity theorems in the context of foreign exchange. You will also consider various shareholder ratios and learn about constructing spreadsheets to calculate net present values and internal rates of return. You will learn how to critically analyse and reflect on the limitations of models and develop the tools to solve numerical problems and analyse case studies.
Plus up to three optional modules
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.
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.
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.
Industrial Economics 1: Market Structure
Why are firms grouped together in industries in particular ways? How do the interactions between firms influence efficiency, profits, technical progress and welfare? What are the determinants of profitability? Does oligopoly always lead to collusion? These are some of the questions you’ll engage with as you study the nature of market power in industrial economies. This module will see you finding empirical support for theoretical models of economic performance, and solving algebraic problems as part of a team in order to refine your understanding of economic models and increase your grasp of the methodology of economic model-making, including through the study of game theory and the work of Bertrand, Cournot and Stackelberg.
Industrial Economics 1: Strategic Behaviour
You will develop your understanding of a range of business-pricing and related practices, including advertising, auctioning, franchising, consumer switching behaviour and vertical integration, through the lens of economics, moving from abstract modelling to applying strategies to real-life situations. You will learn how opportunities and constraints in pricing apply to different groups of consumers, including consideration of the influence of technological change, and will analyse the extent to which the models are supported by empirical studies. Practical work will enable you to refine your ability to structure an argument, and work as part of a team towards the achievement of specific objectives.
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.
Industrial Economics 2: Strategy & Planning
On this module, you will study more advanced economics topics in the modern theory and modelling of industrial organisation. You will increase your ability to formulate, model and analyse issues, typically through your close study of themes as varied as multi-market monopolies, dynamic competition within monopolies, cost dumping, price discrimination, price wars and collusion, product differentiation, advertising and obfuscation, consumer switching, and the structural design of financial, and prediction and betting markets. There is also coverage of more unusual areas such as patenting and litigation, and dealerships.
Industrial Economics 2: Market Economics, Competition & Regulation
This module aims to enable students to put industrial organisation theory into a practical context and to provide students with an opportunity to analyse policy issues arising in different market structures. This module will also help enable students to build an understanding of how economics informs policy-making and how to apply effective policy in this area.
Plus up to four optional modules
Examples of optional modules/options for current students:
- World Economy: History and Theory
- Environmental Economics
- Development Economics
- Labour Economics
- International Trade
- Financial Economics
- Behavioural Economics
- Public Policy
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.
Graduates from these degrees have gone on to work for employers including:
- Bank of America Merrill Lynch
- Department for International Trade
- Santander UK
- Teach First
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
“Warwick equips you with all the skills for life beyond graduation. The friends you make serve as great contacts, the theory builds your understanding and the career skills office provides several opportunities for you to discover which career path you would like to choose.”
Year 3, BSc Economics and Industrial Organisation
- Economics (BSc)
- Economics, Politics and International Studies (BSc/BA)
- Economics, Psychology and Philosophy (EPP) (BA/BSc)
- Economic Studies and Global Sustainable Development (BASc)
- French and Economics (BA)
- German and Economics (BA)
- Hispanic Studies and Economics (BA)
- Italian and Economics (BA)
- Modern Languages and Economics (BA)
- MORSE (Mathematics, Operational Research, Statistics and Economics) (BSc)
- Philosophy, Politics and Economics (BA/BSc)
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.