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Economics

L100 BSc (Econ) (Hons) 3 years

Overview

Our Economics degree is about the real world: about how people respond to incentives, and the production and allocation of resources. Think how many news items involve economics: the global recession, tax, interest rates, prices, and the job market.

There are two major strands in our economics degree: Microeconomics which looks at the individual firm and consumer, attempting to understand their behaviour and motivations, and; Macroeconomics which focuses on the economy as a whole, covering major themes like taxation, investment, inflation and so on.

This degree offers professional training in economics, providing an excellent basis for employment in the private or state sector and for further academic study. The first two years cover a core of macroeconomics, microeconomics and the quantitative techniques used in economic analysis and investigation. The final-year enables you to apply this core knowledge to a variety of specialised areas.

Why study an Economics degree at Queen Mary?

The quality of teaching and research within the School of Economics and Finance at Queen Mary has been widely acknowledged. In the 2015 National Student Survey (NSS) 94% and 96% of our students expressed a high level of overall satisfaction with the quality of teaching and support provided for their course, for economics and finance respectively. In terms of Research, Economics at Queen Mary has been ranked 10th in the UK for research power in the latest Research Excellence Framework (REF 2014). We are a young and international School with staff from all over Europe and beyond, who have links to important institutions in the City and further a-field.

You will be able to choose from a wide range of study options and benefit from a varied programme of visiting speakers. Our established exchange programme allows you to spend either a year in the USA, Australia, Singapore or China or a semester through the Erasmus scheme either in Italy or Spain.

The School offers excellent resources to its undergraduate students as part of their degree. Economics students have the exclusive use of two computer labs and ten Bloomberg terminals which give students access to the financial software used in the banking and finance industry. We also subscribe to the major statistical databases, and software packages such as those used by economists in finance or in government for data analysis and simulation.

The School strongly believes that education, personal and professional development also takes place outside the classroom through structured extracurricular activities. Examples of such extracurricular activities organised by the School and open to all students include the research assistant scheme, the maths and book clubs, economics debates, imagery and essay competitions, football and tennis tournaments. The School also actively support the work of two societies, the Economics Society and the Trading and Investment Society.

Every year the School of Economics and Finance organises various guest speaker lectures. So, you will be able to attend a varied programme of lectures and talks. Some of the invited speakers in the past include Tim Harford, John Roemer, Lord Meghnad Desai, Charles Goodhart, Rt Hon Roy Hattersley, Dan Corry, Robert Peston, Scott Page, Frank Allen, Lord Sebastian Coe, Richard Lipsey, Richard Layard, and Sanjeev Goyal.

Structure

Year 1

Compulsory modules:

  • Principles of Economics
  • World Economy
  • Mathematical Methods in Economics & Business 1
  • Mathematical Methods in Economics & Business 2
  • Spreadsheets and Data in Economics
  • Microeconomics 1
  • Macroeconomics 1
  • Statistical Methods in Economics

Year 2

Compulsory modules:

  • Games and Strategies
  • Macroeconomics 2
  • Econometrics 1
  • Microeconomics 2
  • Selected Topics in Macroeconomics
  • Econometrics 2

Two options to be chosen from the list of Level five Economics and Finance options:

  • Financial Markets and Institutions
  • Capital Markets 1
  • Money and Banking
  • International Finance
  • Economics of Social Issues
  • History of Economic Thought

Year 3

Eight options which must include at least six from the following:

  • Topics in Econometrics
  • Economics Project 1
  • Economics Project 2
  • Advanced Microeconomics
  • Development Economics
  • Applied Econometrics
  • Experimental Economics
  • Industrial Economics
  • Business Cycles
  • Environmental Economics
  • Public Economics
  • Futures and Options
  • Corporate Finance 1
  • Corporate Finance 2
  • Macroeconomic Policy
  • Corporate Strategy
  • Economics of Technology and Innovation
  • Health Economics

Entry requirements

AS/A-level:

2016 grades required: AAA from three A-Levels. Must include A-level Maths.
2017 grades required: A*AA–AAA, including A in A-level maths.

Excluded subjects: General studies, critical thinking and use of maths.

Additional information: We encourage entrants who are predicted to achieve good to excellent A-level grades (at or near AAA or equivalents) to apply. If you have any doubts or questions about the suitability of your predicted grades we strongly encourage you to contact the School of Economics and Finance.

International Baccalaureate:

2016 subjects and grades: 36 points. Must include SL Mathematics 6, or HL Mathematics 5.
2017 subjects and grades: 38–36 points including 7,6,6–6,6,6 in higher level subjects. Must include at least 6 in standard level or 5 in higher level maths, and at least 5 in standard level or 4 in higher level English.

Additional information: We encourage entrants who are predicted to achieve good to excellent IB grades (at or near 36 points) to apply. If you have any doubts or questions about the suitability of your predicted grades we strongly encourage you to contact the School of Economics and Finance.

Vocational and other qualifications:

The College accepts a wide range of qualifications such as: Access and Foundation programmes, vocational awards, Irish Leaving Certificate, Scottish Highers and other Baccalaureates. Entrants with equivalent EU qualifications and equivalent qualifications from overseas (non EU) examinations are also encouraged to apply, as are applications from mature or returning students. Please visit our Entry requirements page for further information.

Admission is based on academic merit and on the proven ability of the applicant to achieve success on their chosen programme of study. Every application to Queen Mary is considered on its individual merits with personal statement and reference taken into consideration.

Information for applicants from outside the United Kingdom, including English language qualifications

 

Learning and teaching

Learning is organised around three hours of weekly contact time per module, complemented by independent work aimed at carrying out the reading, writing and problem solving required by each lecturer. A variety of teaching methods are used ranging from student-led activities to problem-based learning.

Independent Study:

For every hour spent in classes you will be expected to complete a further 2-3 hours of independent study.  Your individual study time could be spent preparing for, or following up on formal study sessions; reading; producing written work; completing projects; and revising for examinations.

The direction of your individual study will be guided by the formal study sessions you attend, along with your reading lists and assignments.  However, we expect you to demonstrate an active role in your own learning by reading widely and expanding your own knowledge, understanding and critical ability.

Independent study will foster in you the ability to identify your own learning needs and determine which areas you need to focus on to become proficient in your subject area. This is an important transferable skill and will help to prepare you for the transition to working life.

Assessment:

Assessment is by a variety of methods including formal examinations, in-class tests, coursework of various forms, presentations and independent dissertation. Most modules have two methods of assessment (e.g., coursework and a two-hour exam).

Fees and finance

Tuition fees

Fees are charged at a Home/EU rate for UK and EU nationals, and an overseas rate for International students - find out more about how your tuition fee status is assessed.

You can either take out a Tuition Fee Loan (see Funding section below) to pay your fees or, if you are paying them yourself, you can pay in instalments.

Tuition fees for a year abroad or placement year on a full time undergraduate course will be a proportion of the full fee for the year in which you commence your time abroad or placement.

For information on field trip and other course related costs which are not included in your tuition fee, please contact the relevant Department/School.

See more general information about fees.

Tel: +44 (0)20 7882 7676
email: fees@qmul.ac.uk

Funding

Queen Mary has a substantial package of scholarships and bursaries which will benefit around 50 per cent of our undergraduate student body.

Scholarships and Bursaries available at Queen Mary for Home/EU Students

There are a number of scholarships and bursaries available each year for home students. Visit our Bursaries and Scholarships page for more information.

Visit our Advice and Counselling website for more information about financial support.

Scholarships available at Queen Mary for International Students

There are a number of Scholarships available each year for International Students including bursaries and scholarships in a range of subject areas.

Find out more about international scholarships.

Some International students may also be eligible for a fee reduction.

Loans and Grants available to help with tuition fees and living costs

Student Finance England administers all grant and loans for your studies if you normally live in England.

If you live in WalesScotland or Northern Ireland you have an equivalent Student Finance department for your region.

Through Student Finance England, you can apply for (figures relate to programmes starting from September 2016):

  • A Tuition Fee Loan of up to £9,000 to pay all or part of your fees
  • A Maintenance Loan of up to £10,702 to help pay your living costs like rent, food and travel
  • Extra grants if you have a disability or you have children or an adult dependant
  • You might get a grant to cover some travel expenses if you normally live in England but study away from home. If you’re a medical or dental student you might also qualify for help with the costs of attending clinical placements in the UK.

Visit Student Finance Information to find out more about:

  • How to apply for student finance
  • What eligibility rules apply, including if you already have a degree or previous higher education study
  • What the income thresholds are and how much you might personally get for each element of Student Finance
  • What to do if you have problems getting your Student Finance

Other financial help on offer at Queen Mary

We offer one to one specialist support on all financial and welfare issues through our Advice and Counselling Service, which you can access as soon as you have applied for a place at Queen Mary.

Our Advice and Counselling Service also has lots of Student Advice Guides on all aspects of finance including:

  • Additional sources of funding
  • Planning your budget and cutting costs
  • Part-time and vacation work
  • Money for lone parents

For more information visit the Advice and Counselling service website, or call +44 (0)20 7882 8717.

Graduate Employment

Graduates from Queen Mary’s School of Economics and Finance go on to work in a variety of careers. Most people apply their degree knowledge directly, entering roles in insurance, banking and accounting. Others transfer skills gained during study into sectors such as marketing or law.

The national 2012 destination survey confirmed that 92% of BSc Economics graduates were in employment and/or study six months after graduation, with 97% already working/studying at graduate level. Graduates from this course have a strong earning power, with a median salary of £22,692.

The broad range of skills gained through this course, coupled with multiple opportunities for extra- curricular activities and work experience, has enabled students to move into careers such as:

  • Auditor - Deloitte
  • Cash Management Analyst - Barclays Corporate
  • Junior Analyst - Goldman Sachs
  • Insurance Compliance Officer - Arthur J. Gallagher & Co.
  • Investment Banker - Royal Bank of Canada
  • Media Executive - Profero
  • Pensions Administrator - Towers Watson
  • Supply Management Graduate - Trainee Atos Origin
  • Trainee Accountant - Gordion Knot Ltd.
  • Trainee Stockbrocker - Guardian Stockbrokers

Throughout the course, students have access to an annual QM Careers and Enterprise Centre programme, to prepare them for internships and graduate level work. This includes employer led workshops on job applications and interviews as well as over 90 employer events to facilitate networks and help students to explore their options.

The School of Economics and Finance has a weekly programme of in-school workshops and events led by the School’s Careers Consultant. These include events such as Meet the Alumni, a mentoring programmes with RBS and access to weekly 1-2-1 appointments with the Careers Consultant to get support with work experience and job applications. There is also a 3 week Focus on Finance programme with workshops on economics in industry and government, working in insurance, investment banking, consulting and accounting, and featuring employers such as KPMG and Bloomberg as well as accountancy training providers.

Opportunities for work experience are substantial given Queen Mary’s location between Canary Wharf, the City and the Olympic Village. Students are encouraged to build their work experience throughout their period of study, through, for example, our QProjects work experience scheme, our QRecruit internships and temporary work hub, the part time work Experience Works event and QMSU Provide volunteering services. Over 1400 vacancies are available to browse on the QM JobOnline vacancy site.

Queen Mary’s extensive campus also provides over 1200 on-campus job and volunteer opportunities ranging from E-learning Assistant to Gym Instructor and from Society President to Student Mentor.

Read more about our careers programmes and range of work experience opportunities on the QM Careers and Enterprise Centre pages

Profiles

STUDENT PROFILE:

Name: Shayan Ali Afzal
Studying:  BSc Economics

One of the main reasons why I choose the School of Economics and Finance at Queen Mary to pursue my undergraduate studies is for the fact that it has the best campus in the whole of London.  In terms of location, the School is really close to the hub of financial world in Canary Wharf and central London. I wanted to go to a university where I could get the campus feel and at the same time I wanted to stay in London. Queen Mary has got the biggest campus in London and this helped me finalise my university choice. The School of Economics and Finance is located in the main Queens building which gives a prestigious feel to its students.

My time at the School of Economics and Finance has increased my knowledge in all terms. The events held, and the warmth of the department, have made me a more confident person today. The staff and teachers are so approachable and easy to communicate with; in fact they are more like your friends. The way Economics is taught at Queen Mary is exceptionally good; a challenging discipline is made easy thanks to the efforts of all staff members of the School of Economics and Finance.

In the next five years I see my self working for a well reputed financial firm. Specifically, being part of a successful sales team at an investment bank that plays a substantial role in the banking industry.


STUDENT PROFILE:

Name: Eve Connor
Studying:  BSc Economics

My reasons for choosing Queen Mary were essentially threefold. Firstly the location of the university is perfect: it's set in the heart of East London, and with views of the City and Canary Wharf I get daily reminders of my gap year, but also it puts those early morning walks to lectures into perspective! For me it definitely helps knowing that what I’m working for now will help my career in the long run. Secondly the Economics department at Queen Mary is renowned for excellent teaching, in fact it is currently ranked as the best Economics department in London for students. Lastly, I wanted to experience the campus environment but still be in London, which Queen Mary was able to offer me.

Since being at university I can only testify that all of my expectations have been exceeded. Not only is the teaching creative and engaging, but the lecturers are approachable and extremely helpful if you ever have any issues. Further to this there is a wealth of information available to you if you should need it; examples include the recently refurbished library and the excellent careers events that frequently involve guest speakers and networking events.

In summary my experience of Queen Mary so far couldn’t have gone better; there is a very strong community within the department that makes it easy to settle into university life quickly. As a course representative for Economics I can attest to the opportunities to get involved within the department and provide your opinion about your course.


STUDENT PROFILE:

Name: Chelcie Jay Whitmore
Studying: BSc Economics

Having lived in East London my whole life, I visited Queen Mary during a summer school programme whilst I was still in secondary school. There I discovered that not only does Queen Mary have an excellent reputation, but the whole atmosphere of the university (especially the staff and students that I met) was so friendly. In addition, the location of Queen Mary is perfect, especially for an Economics student, because it is so closely linked to the City. There is so much diversity at Queen Mary that is a perfect place for enrichment, not only academically but also culturally and socially too.

I find the course extremely challenging and thought-provoking whilst remaining thoroughly enjoyable. I love how different the courses are individually, but also how they are all intertwined. The course is helping me to look at things from a different angle and analyse situations as an economist would. Furthermore, I was surprised when I learned just how much support the School of Economics and Finance gives you, and how friendly the lecturers and tutors are: all are willing to help you in every way possible. I am so glad I chose to study Economics at Queen Mary!


STUDENT PROFILE:

Name: Paul I. Henderson
Studying: BSc Economics

When deciding which universities I wanted to apply for I always knew I wanted to be in London. Queen Mary's location in the East End of London, in a campus setting, has allowed me to experience the variety of what London has to offer, but also the feeling of a community. In Economics so far I have learnt a lot through group-based work, stimulating lectures and helpful classes. I can now debate current economic developments with my peers and tutors with confidence. My particular interest in Economics lies in microeconomics which analyses how individuals make decisions based on their constraints. At Queen Mary, I've been able to develop my knowledge in this field through our lecturers but also from my peers at our reading club.

Being the 1st Year Representative and one of four Economics Course Reps for the Student Union has allowed me to really get involved with what happens in the School of Economics and Finance. Through this I can really see that the academic staff here are serious about providing Economics students with an enjoyable and supportive environment. The lecturers and tutors are very welcoming; I’ve never felt that I couldn’t approach them with any issue or suggestion. Also, the Economics department at Queen Mary gives its students a lot of support and opportunities when it comes to striving towards your chosen career path. This is something I especially enjoy.

My best advice to prospective students is when you visit the campus, talk to people, talk to tutors, lecturers and students who are doing the course you're interested in and make sure you get your questions answered.


GRADUATE PROFILE:

Name:  Shamil De Dodwell
Studied:  BSc Economics

Currently: Analyst with Morgan Stanley, working in Fixed Income Product Control, after doing an internship there in his second year.

Why did you choose Queen Mary?
I chose Queen Mary as it is a College with a rich tradition and is one of the established colleges of the University of London. A degree from the University of London is instantly recognisable all over the world and I knew Queen Mary would offer me the right blend of challenges.

How did your time at Queen Mary prepare you for your chosen career?
Meeting deadlines at university taught me the importance of an organised approach to my work and I have carried this through to investment banking where we are always under pressure to meet deadlines and balance work and social life. The group coursework exercises at university also taught me the importance of teamwork and this is a skill that is crucial in this industry.

What ‘transferable skills’ did you gain from your time at Queen Mary?
The computing skills I picked up on degree have proved invaluable. A good grasp of Excel, Access and Powerpoint will always help you in any role in the city. The learning curve here has been very steep but you are always learning something new so there is never a dull moment.

What are you hoping to do, career-wise, in the next five years?
Hopefully a transfer to New York, Sydney or Singapore! Morgan Stanley encourages the analysts to move around the firm and to their offices abroad so I hope to be facing a new challenge in a new team in the New Year. I also hope to have completed a further qualification such as the CFA or CIMA in the next five years.

GRADUATE PROFILE:

Name:
Punit Ghumra
Studied: BSc Economics

Why did you choose Queen Mary?
I joined Queen Mary University in 2007 due to its reputation as a leading institute for Economics within the University of London. As the university is located in close proximity of London's economic hubs, Canary Wharf and Liverpool Street, it boasts strong ties with the financial sector and is perfectly located to experience the cities vibrancy. Additionally, the atmosphere on campus was always lively and I particularly cherished meeting new people with variety of cultural heritages from all around the globe.
 
What did you gain from your time at the School of Economics and Finance?
Studying at QMUL was one of the most exhilarating experiences of my life, both academically and socially. Through studying Economics, I developed a solid understanding of international financial markets and enhanced my outlook of the macro economy - something that I found to be pivotal considering the current climate. Furthermore, as an economist, the ability to infer data and forecast information became second nature, traits which employers deem invaluable.
 
What are your career plans in the next five years?
Of course university life was not just about work, personally I wanted to make the most of my time at such a prestigious university and was fortunate enough to elected President of the Economics society. I captained Team Alpha, the Economics department's football champions. Overall, these experiences facilitated in developing my character and I found myself to become a more confident individual reflecting positively upon my academic performance. Within the next five years, I hope to be a fully qualified chartered accountant with a medium sized firm specialising in forensic accountancy.


GRADUATE PROFILE:

Name: Shrenik Parekh
Studied: BSc Economics
 
Why did you choose the School of Economics and Finance at Queen Mary for your Undergraduate study?
I chose to study Economics at an undergraduate level at Queen Mary because of its acclaimed reputation, particularly for its research. I knew I wanted a University of London degree and once I visited the campus, I realised that the people were also extremely friendly and welcoming, perhaps reflective of Queen Mary's high ranking on the National Student Survey 2011.
 
What did you gain from your time at the School of Economics and Finance?
During my time at Queen Mary, particularly on this course, I have primarily learnt how to be organised and time-manage effectively. Studying for 8 different modules in the build-up to exam period requires a lot of motivation as well as a structured timetable. On the course and outside the course, I have met many unique and friendly people that I am sure I will keep in touch with even after university.
 
What are your career plans in the next five years?
I will be working for KPMG at their Canary Wharf office in London in Advisory Risk Consulting - Financial Services. I believe this will provide me with insight and exposure into the business world and will also provide me a platform to eventually obtain an MBA. I hope to eventually be a manager or even a partner of the firm one day!

Eve Connor

BSc Economics

Why did you choose to study at Queen Mary?

“I chose Queen Mary for three reasons. Firstly, the location of the university is perfect: it's set in the heart of east London, and with views of the City and Canary Wharf I get daily reminders of my gap year. It also puts those early morning walks to lectures into perspective! Secondly, the economics department at Queen Mary is renowned for excellent teaching. Thirdly, I wanted to experience the campus environment but still be in London.

How did you find your academic and social experience at QMUL?

“Since being at university I can only say that my expectations have been exceeded. Not only is the teaching creative and engaging, but the lecturers are approachable and extremely helpful. There is also a wealth of information and support available to you, including the recently refurbished library and the excellent careers events that frequently involve guest speakers and networking opportunities.

“There is a very strong community within the department that makes it easy to settle into university life. As a course representative I can attest to the opportunities to get involved within the department and provide your opinion about your course.”


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