Economics and Mathematics

From developing your knowledge of core economic theory and high-level mathematics and statistics to addressing the challenges associated with real-world data, this BSc will arm you with the tools you need to make effective decisions in our data-driven world.

The course explores the intricacies of economic analysis with an emphasis on resource allocation efficiency and effectiveness, while also offering the opportunity to tailor your learning to specialise in a specific area of mathematics or statistics.

The first two years include an equal balance of economics and mathematics modules, starting with a foundation in domestic economics, international economics, pure mathematics, statistics and probability in Year 1. As you progress through Years 2 and 3 you will gain a deeper understanding of core concepts in key areas of economics such as macroeconomics, microeconomics and data analysis, while in mathematics you will delve deeper into mathematical applications which typically include data science, statistics and/or probability theory.

In the final year you draw on this learning to research and write a dissertation in either Economics or Mathematics. You’ll also have the option to develop complementary skills through our innovative interdisciplinary enterprise module. Working in groups, you can develop a business plan to bid for research funding for an applicable innovation.

The wide array of option modules provides the flexibility to tailor your learning in line with your evolving interests. In addition, the common first year allows the option to transfer onto either the BA Economics, BSc Mathematics or BSc Natural Sciences at the end of the first year.

The BSc in Economics and Mathematics cultivates critical thinking, analytical prowess, problem-solving and logical reasoning. It serves as a gateway to a wide range of career options including the financial sector, policymaking, education and international development.

Course structure

Year 1

Core modules:

Principles of Economics provides a sound foundation for modules in micro- and macroeconomics. You will cover areas including methodology of economics, supply and demand, consumer spending choices, competition and growth theories.

Global Economic History provides knowledge and understanding of the features of different types of economy, and of world trade and the international financial system. You will learn about international trade theory, economic growth and cover some of the key concepts relating to developments and crises in the world economy using real-world case studies.

Calculus builds on ideas of differentiation and integration in A level mathematics. The module begins with functions of a single variable before moving on to functions of several variables. Topics include methods of solving ordinary and partial differential equations, and an introduction to Taylor series, Fourier series and Fourier transforms.

Linear Algebra presents mathematical ideas, techniques in linear algebra and develops the geometric intuition and familiarity with vector methods you will need for more challenging material later in the course.

Probability introduces mathematical ideas on probability in preparation for more demanding material later in the course. The module builds problem solving skills through the exploration of a mathematical subject of relevance to the real world (applied) that is based on rigorous mathematical foundations (pure).

Statistics introduces frequentist and Bayesian approaches and demonstrates the relevance of these principles and procedures using real problems. This introductory module lays the foundations for all subsequent study of statistics.

In recent years, option modules have included:

• The Economics of Sustainability
• Introduction to the History of Economic Thought
• Programming and Dynamics.

Year 2

Core modules:

Economic Theory develops an intermediate knowledge and understanding of the essential components of microeconomic and macroeconomic theory and an understanding of policies and empirical applications of economic theory.

Econometrics equips you with the skills to understand the type of empirical analysis used in economic literature. You will also write a report based on econometric analysis.

In recent years, option modules have included:

• Macroeconomics*
• Microeconomics*
• Behavioural and Experimental Economics
• Intermediate Methods for Economics
• Microeconomic Applications and Policy
• Macroeconomic Applications and Policy
• Statistical Inference
• Data Science and Statistical Computing
• Markov Chains
• Probability
• Statistical Modelling
• Mathematical Modelling.

* These may replace Economic Theory. When combined, the two modules develop advanced knowledge and understanding of microeconomic and macroeconomic theory. If they are selected there will be no opportunity for any other Economics option modules in Year 2.

Year 3 (Year 4 if undertaking a placement or year abroad)

In the final-year you will either undertake a Dissertation, a detailed and critical examination of a relevant area of economics. Alternatively, you could choose to investigate a statistical topic of interest or perform an in-depth analysis of a data set using the tools acquired earlier in the course.

You may also take our Enterprise module working in groups to develop a business plan to bid for research funding for a mock applicable innovation.

In recent years, option modules have included:

• Advanced Macroeconomic Theory
• Advanced Microeconomic Theory
• Applied Econometrics
• Developmental Economics
• Environmental Economics and Policy
• International Economics
• Monetary Economics
• Labour Economics
• Game Theory and Applications
• Advanced Statistical Modelling
• Bayesian Computation and Modelling
• Decision Theory
• Machine Learning and Neural Networks
• Mathematical Finance
• Operations Research
• Stochastic Processes.

Placement