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Economics and Industrial Organisation BSc (UCAS L112)

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 levels

A*A*A including A in Maths


IB

39 to include 6, 6, 6 in three Higher Level subjects including 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.


International qualifications


Language requirements

All applicants have to meet our English Language requirements. If you cannot demonstrate that you meet these, you may be invited to take part in our Pre-sessional English course at Warwick.


Frequently asked questions

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 usually be one or two grades below Warwick’s standard offer.

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.

We welcome applications for deferred entry.

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.

Course overview

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, encouraging you to consider and develop your own research questions.

In your first and third years you will 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 will be able to follow your curiosity further by completing a Research in Applied Economics project on a topic of particular interest.


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').

Core modules

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%.


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.

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.

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.

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.

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.

Industrial Economics 2: Strategy and 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, such as multi-market monopolies, dynamic competition, advertising and obfuscation, product differentiation and behavioural industrial organisation. The module will place a special emphasis on the increasing importance of platforms and two-sided markets such as Uber and AirBnB alongside more traditional digital platforms such as Amazon and eBay.

Industrial Economics 2: Market Economics, Competition and Regulation

This module aims to enable students to put industrial organisation theory into a practical context, focusing on the regulation of utility industries and competition policy issues. As such, it will 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 the areas of regulation and competition policy.

Plus up to four optional modules.


Optional modules

Optional modules can vary from year to year. Example optional modules may include:

  • World Economy: History and Theory
  • Environmental Economics
  • Development Economics
  • Labour Economics
  • International Trade
  • Financial Economics
  • Behavioural Economics
  • Public Policy

Assessment

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.

Teaching

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.


Class sizes

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 support and feedback classes with around 15-20 students.


Typical contact hours

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

Tuition fees

Tuition fees cover the majority of the costs of your study, including teaching and assessment. Fees are charged at the start of each academic year. If you pay your fees directly to the University, you can choose to pay in instalments.

Undergraduate fees

If you are a home student enrolling in 2021, your annual tuition fees will be £9,250. In the future, these fees might change for new and continuing students.


2+2 course fees

If you are a home student enrolling in 2021 for a 2+2 course through the Centre for Lifelong Learning, your annual tuition fees will be £6,750. In the future, these fees might change for new and continuing students.


How are fees set?

The British Government sets tuition fee rates.

Learn more about fees from UCAS.

Undergraduate fees

If you are an EU student enrolling in 2021, the tuition fee will be charged in line with government policy and therefore the same as Overseas Tuition Fee rates.

For details please see Overseas students section below.

Undergraduate fees

If you are an overseas or EU student enrolling in 2021, your annual tuition fees will be as follows:

  • Band 1 – £21,220 per year (classroom-based courses, including Humanities and most Social Science courses)
  • Band 2 – £27,060 per year (laboratory-based courses, plus Theatre and Performance Studies, Economics, and courses provided by Warwick Business School, with exceptions)

Fees for 2022 entry have not been set. We will publish updated information here as soon as it becomes available, so please check back for updates about 2022 fee rates before you apply.


Fee status guidance

We carry out an initial fee status assessment based on the information you provide in your application. Students from 2021 entry will be classified as Home or EU/Overseas fee status. Your fee status determines tuition fees, and what financial support and scholarships may be available. If you receive an offer, your fee status will be clearly stated alongside the tuition fee information.

Do you need your fee classification to be reviewed?

If you believe that your fee status has been classified incorrectly, you can complete a fee status assessment questionnaire. Please follow the instructions in your offer information and provide the documents needed to reassess your status.

Find out more about how universities assess fee status.


Additional course costs

There may be extra costs related to your course for things such as stationery, books, materials and field trips.


Further information

Find out more about tuition fees from our Student Finance team.


Scholarships and bursaries

Learn about scholarships and bursaries available to undergraduate students.

We offer a number of undergraduate scholarships and bursaries to full-time undergraduate students. These include sporting and musical bursaries, and scholarships offered by commercial organisations.

Find out more about funding opportunities for full-time students.

If you are an international student, a limited number of scholarships may be available.

Find out more information on our international scholarship pages.


You may be eligible for financial help from your own government, from the British Council or from other funding agencies. You can usually request information on scholarships from the Ministry of Education in your home country, or from the local British Council office.


Warwick Undergraduate Global Excellence Scholarship 2021

We believe there should be no barrier to talent. That's why we are committed to offering a scholarship that makes it easier for gifted, ambitious international learners to pursue their academic interests at one of the UK's most prestigious universities. This new scheme will offer international fee-paying students 250 tuition fee discounts ranging from full fees to awards of £13,000 to £2,000 for the full duration of your Undergraduate degree course.

Find out more about the Warwick Undergraduate Global Excellence Scholarship 2021.

We provide extra financial support for qualifying students from lower income families. The Warwick Undergraduate Bursary is an annual award of up to £3,000 per annum. It is intended to help with course-related costs and you do not have to pay it back.

Find out more about your eligibility for the Warwick Undergraduate Bursary.

As part of the 'City of Sanctuary' movement, we are committed to building a culture of hospitality and welcome, especially for those seeking sanctuary from war and persecution. We provide a range of scholarships to enable people seeking sanctuary or asylum to progress to access university education.

Find out more about the Warwick Undergraduate Sanctuary Scholarships for asylum seekers.

Further information

Find out more about Warwick undergraduate bursaries and scholarships.

Eligibility for student loans

Your eligibility for student finance will depend on certain criteria, such as your nationality and residency status, your course, and previous study at higher education level.

Check if you're eligible for student finance.

Tuition Fee Loan

You can apply for a Tuition Fee Loan to cover your tuition fees. It is non-means tested, which means the amount you can receive is not based on your household income. The Loan is paid directly to the University so, if you choose to take the full Tuition Fee Loan, you won’t have to set up any payments.

Maintenance Loan for living costs

You can apply for a Maintenance Loan towards your living costs such as accommodation, food and bills. This loan is means-tested, so the amount you receive is partially based on your household income and whether you choose to live at home or in student accommodation.

Find out more about government student loans for home students residing in England.

Tuition Fee Loan

For the 2020 academic year, you can apply for a Tuition Fee Loan to cover your tuition fees if you’re from an EU country. It is non-means tested, which means the amount you can receive is not based on your household income. The Loan is paid directly to the University so, if you choose to take the full Tuition Fee Loan, you won’t have to set up any payments.

Help with living costs

For the 2020 academic year, you may be eligible for help with your living costs if you’ve lived in the UK for more than 5 years before the first day of the first academic year of your course.

If you are starting a course on or after 1 August 2021, you must have settled or pre-settled status under the EU Settlement Scheme to get student finance.

Find out more about government student loans for EU students.

Repaying your loans

You will repay your loan or loans gradually once you are working and earning above a certain amount (from April 2021 the repayment threshold is £27,295 and is expected to rise each year). Repayments will be taken directly from your salary if you are an employee. If your income falls below the earnings threshold, your repayments will stop until your income goes back up above this figure.

Find out more about repaying your student loan.

Your Career

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.


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.

Life at Warwick

Within a close-knit community of staff and students from all over the world, discover a campus alive with possibilities. A place where all the elements of your student experience come together in one place. Our supportive, energising, welcoming space creates the ideal environment for forging new connections, having fun and finding inspiration.

Keep exploring life at Warwick

Find out how to apply to us, ask your questions, and find out more.

Warwick Accommodation

Finding the right accommodation is key to helping you settle in quickly.

We have 12 self-catering undergraduate halls of residence on campus.

Our student property management and lettings agency manages more than 8,000 rooms both on and off campus, and provides advice to all full-time undergraduates.

Explore Warwick Accommodation

Our campus

You won't be short of ways to spend your time on campus - whether it's visiting Warwick Arts Centre, using our incredible new sports facilities, socialising in our bars, nightclub and cafés, or enjoying an open-air event. Or if you need some peace and quiet, you can explore lakes, woodland and green spaces just a few minutes’ walk from central campus.

Explore our campus

Food and drink

We have lots of cafés, restaurants and shops on campus. You can enjoy great quality food and drink, with plenty of choice for all tastes and budgets. There is a convenience store on central campus, as well as two supermarkets and a small shopping centre in the nearby Cannon Park Retail Park. Several of them offer delivery services to help you stay stocked up.

And don't miss our regular food market day on the Piazza with tempting, fresh and delicious street food. Soak up the atmosphere and try something new, with mouth-watering food for all tastes.

Explore food and shops

Explore Students' Union venues

Societies

Clubs and societies

We currently have more than 300 student-run societies.

So whether you’re into films, martial arts, astronomy, gaming or musical theatre, you can instantly connect with people with similar interests.

Or you could try something new, or even form your own society.

Explore our societies

Sport

Sports and fitness

Staying active at Warwick is no sweat, thanks to our amazing new Sports and Wellness Hub, indoor and outdoor tennis centre, 60 acres of sports pitches, and more than 60 sports clubs.

Whether you want to compete, relax or just have fun, you can achieve your fitness goals.

Explore sports at Warwick

Studying on campus

Our campus is designed to cater for all of your learning needs.

You will benefit from a variety of flexible, well-equipped study spaces and teaching facilities across the University.

  • The Oculus, our outstanding learning hub, houses state-of-the-art lecture theatres and innovative social learning and network areas.
  • The University Library provides access to over one million printed works and tens of thousands of electronic journals
  • Three Learning Grids offering you flexible individual and group study spaces.

Studying at Warwick

Local Life

Travel and local area

Our campus is in Coventry, a modern city with high street shops, restaurants, nightclubs and bars sitting alongside medieval monuments. The Warwickshire towns of Leamington Spa and Kenilworth are also nearby.

The University is close to major road, rail and air links. London is just an hour by direct train from Coventry, with Birmingham a 20-minute trip. Birmingham International Airport is nearby (a 20-minute drive).

Travelling from campus

Support and Wellbeing

Wellbeing support and faith provision

Our continuous support network is here to help you adjust to student life and to ensure you can easily access advice on many different issues. These may include managing your finances and workload, and settling into shared accommodation. We also have specialist disability and mental health support teams.

Our Chaplaincy is home to Chaplains from the Christian, Jewish and Muslim faiths. We provide regular services for all Christian denominations and a Shabbat meal every Friday for our Jewish students. There is also an Islamic prayer hall, halal kitchen and ablution facilities.

Student support

Chaplaincy

How to apply

Learn more about our application process.

Key dates

Key dates for your application to Warwick.

Writing your personal statement

Make an impression and demonstrate your passion for your course.

After you've applied

Find out how we process your application.

3 ways to connect

Talk to us

Join us at a live event. You can ask about courses, applying to Warwick, life at Warwick, visas and immigration, and more.

See event calendar


Warwick Experience

Take a virtual, student-led campus tour. Then join an interactive panel session, where you can hear from and chat to our current students and staff.

Book a tour


Student blogs

Explore our student blogs in OurWarwick. You can read about campus life from students themselves, and register to post questions directly to students.

Ask a student

Explore campus with our virtual tour

Our 360 tour lets you:

  • Watch student videos
  • View 360 photography and drone footage
  • Learn about facilities and landmarks

Explore our campus virtually through our 360 campus tour now

Come to an Open Day

Don’t just take it from us, come and see for yourself what Warwick is all about. Whether it's a virtual visit or in-person, our University Open Days give you the chance to meet staff and students, visit academic departments, tour the campus and get a real feel for life at Warwick.

Open Days at Warwick

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