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Economics BSc (L100)

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Find out more about our Economics degree at Warwick

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2a

L100

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Bachelor of Science (BSc)

2c

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

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26 September 2022

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Department of Economics

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University of Warwick

3a

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. Our teaching is research-led, meaning you will be learning from some of the world’s leading researchers in their field.

3b

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 and will encourage you to consider your own research questions.

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

3c

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, so as you move through your degree, you will have more opportunities to study topics that particularly interest you. This module brings together many of the tools and techniques you have learnt.

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%.

3d

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

Throughout the degree, you will 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.

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

Some of the larger modules may have 200-500 students in them. You will then typically have weekly or fortnightly support and feedback classes with around 15-20 students.

3f

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

3g

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 20-30% on coursework and 70-80% 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.

3h

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 are 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').

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Our selectors value a breadth of subjects. You should therefore avoid subjects with significantly overlapping curricula where possible.

4a

A level typical offer

A*A*A including A in Maths

A level contextual offer

We welcome applications from candidates who meet the contextual eligibility criteria. The typical contextual offer is AAA including A in Maths. See if you’re eligible.

General GCSE requirements

Unless specified differently above, you will also need a minimum of GCSE grade 4 or C (or an equivalent qualification) in English Language and either Mathematics or a Science subject. Find out more about our entry requirements and the qualifications we accept. We advise that you also check the English Language requirements for your course which may specify a higher GCSE English requirement. Please find the information about this below.

4b

IB typical offer

39 to include 6, 6, 6 in three Higher Level subjects including Higher Level Mathematics (either ‘Analysis and Approaches’ or ‘Applications and Interpretation’).

IB contextual offer

We welcome applications from candidates who meet the contextual eligibility criteria. The typical contextual offer is 37 including 6 in Higher Level Maths ('Analysis and Approaches' only). See if you’re eligible.

General GCSE requirements

Unless specified differently above, you will also need a minimum of GCSE grade 4 or C (or an equivalent qualification) in English Language and either Mathematics or a Science subject. Find out more about our entry requirements and the qualifications we accept. We advise that you also check the English Language requirements for your course which may specify a higher GCSE English requirement. Please find the information about this below.

4c

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

5a

Year One

Macroeconomics 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 consumer theory and behavioural economics; government policy and the links to welfare and the decisions of the firm under producer theory, including profit maximisation and cost minimisation, You will also consider the model of demand and supply, different models that explain how firms compete, including 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 and will consider all of these topics using both a mathematical and graphical approach.

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 two modules: Mathematical Techniques and Statistical Techniques. You will cover topics ranging from algebra and calculus to distributions and hypothesis testing, which will provide you with key skills and knowledge that will then applied in many other modules. In addition, you will be introduced to some advanced statistical software packages, which will help you learn about a range of techniques to analyse data and different ways in which you can present 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 to the present day. You will take the long view of changes in global income and population, and critically examine the forces that explain economic success of some regions and the obstacles that have hindered economic advance in others. 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 as well as the use of theory and empirical analysis in economics research. 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. You will then be able to apply this knowledge to a research project of your own.

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.

5b

• Environmental Economics
• Behavioural Economics
• Economics of Money and Banking
• Topics in Applied Economics
• The Industrial Economy
• Political Economy
• Organisational Behaviour
• Foundations of Finance
• International Security
• Languages

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Graduates from our Economics 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.

7a

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.