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Home > Courses > Courses for 2017 > Undergraduate > Economics and Management
More in this section Economics

Economics and Management BSc

UCAS code LN12
Year of entry 2017
View 2018 entry »
Course Length
3 years full time
Department Economics »
Management »

 

This course is provided jointly by one of the UK's top ten teaching and research centres for Economics and our innovative School of Management.Studying Economics and Management at Royal Holloway means that you will learn from internationally renowned experts who will share their research and experience so that you gain current and relevant skills and knowledge.  This intellectually stimulating and diverse course combines two highly complementary subjects and covers the core programme of the Economics degree with that of the Management degree. Selecting this degree will provide you with the knowledge and skills that will give you excellent career prospects.   


Our balanced approach to research and teaching guarantees high quality teaching from subject leaders, cutting edge materials and intellectually challenging debates. You will be supported through your studies by an established network of academic and departmental staff 

You will examine the theories and methods of economics, with a strong focus on analytical methods: develop skills in mathematics and statistics and learn to tackle economic problems: gain an understanding of management from strategy to marketing, and accounting to e-commerce, with an emphasises the case study approach.

  • Excellent position to pursue a wide range of careers, by using different methods to understand similar subjects; economics uses primarily quantitative and formal analysis, while management emphasises the case study approach. 
  • Quality research; both departments are recognised for their high quality research, the Economics Department is in the top 10 for research output and impact and the School of Management publications are judged as 14thout of 101 UK business and management schools (Research Excellence Framework 2014).
  • Inspiring close community; a friendly and relaxing environment where everyday interactions with student and staff from different departments and nationalities are a norm - the8,500 students come from 130 countries.

Core modules

Year 1

Economics: Principles of Economics

You will gain an understanding of the basic theories of microeconomics (the behaviour of individuals and firms) and macroeconomics (the behaviour of the economy as a whole and relations). In macroeconomics you will learn about circular flow; the goods market; money, bonds, income, and interest; fiscal policy; monetary policy; aggregate demand and supply; the Phillips curve; and long term growth. Discussions will take place on the current financial / debt crisis and the inflation-unemployment trade-off. In microeconomics you will learn about supply and demand; elasticity; theories of the consumer and the firm; and market structures. 

Economics: Quantitative Methods of Economics 1

In this module you will become familiar with the basic mathematical, quantitative, computing and statistical tools for the study of Economics.

The core modules in Management are:

International Business

In this module you will develop an understanding of the formal economic, political and legal institutions, as well as cultural, religious, and linguistic differences that must be taken into account when conducting business across borders. You will look at how the global context in which companies operate has evolved over time, considering the role of foreign direct investment and internationalisation strategies. You will examine the motivations for entering a foreign market, the factors determining whether a company enters on their own or in partnership, the risks of entry and how they are analysed, and how companies negotiate with governments.

Markets and Consumption

In this module you will develop an understanding of how marketing can be seen as both an academic discipline and as a business practice. You will look at the role of the consumer as a stakeholder in an organisation, examining how they make consumption decisions. You will assess marketing as a business practice, considering how it has penetrated all sectors of the economy (private, public, and not-for-profit). In addition, you will learn about the sustainability of marketing practices in an increasingly globalised consumer society.

Accounting

In this module you will develop an understanding of the basic concepts of accounting, examining its role in organisations and society. You will consider the basic components of financial statements, including income statement, balance sheets, and cash flow statements, and the procedures and techniques for the preparation of these. You will also look at the principles of financial decision making and how to analyse accounting information. 

Organisation Studies

In this module you will develop an understanding of organisation as a process and the organisation as an entity. You will look at key managerial activities, examining classical ideas about organisation with the context of nationalisation and humanisation. You will see how these ideas reappear, albeit in a modified form, in contemporary organisations, looking at organisational forms and modern management techniques such as culture management, emotional labour, and charismatic leadership. You will also consider Max Weber’s distinction of formal and substantive rationality and Anthony Giddens’ formulation of the duality of action and structure.

Year 2

Economics: Microeconomics

This module covers microeconomic analysis and policy. You will be introduced to analytical tools for studying the behaviour of individuals and firms across a range of economic settings. Topics include optimisation of consumer and firm problems; strategic interactions between firms in different non-competitive environments; choice under uncertainty; intertemporal decisions; and general equilibrium theory. For each topic, real world applications will show how models are used to examine complex issues, make predictions and prescribe policy. You will also study the features of economies that give rise to desirable market outcomes under different welfare criteria in conjunction with situations that result in market failures.

Economics: Macroeconomics

This module covers macroeconomic theory and policy. You will develop an understanding of macroeconomics at the intermediate level, considering the determinants of aggregate variables such as unemployment, investment, consumption, interest rates, inflation, exchange rates and the balance of trade (net exports). Topics include the goods and financial markets and the Hicks-Hansen (IS-LM) model in the short run; aggregate supply, the labour market and the Aggregate Demand – Aggregate Supply (AD-AS) model in the medium run; the Phillips curve, disinflation and Okun’s law; Economic growth and the Solow model; consumption and investment theory and the role of expectations in the IS-LM model; open economy, exchange rate regimes and Mundell-Fleming model; hyperinflation, financial crises and the euro zone; and fiscal policy, monetary policy, and the practice of policy making.

The core modules in Management are:

Strategic Management

In this module you will analyse the principal theories of strategic management and consider them in the context of contemporary business operations, including the political and regulatory frameworks, in response to technological change, financialisation, the development of ‘new’ business models, and the changes in the way corporate performance is assessed. You will discuss key concepts and debates in the theory of corporate and business strategy, examine the changing context in which the corporate strategy is formulated and implemented, and develop an understanding of the theoretical debates that relate to corporate strategy via the analysis of case studies, which will cover a variety of industrial settings and situations.

Marketing Strategy in Context

In this module you will develop an understanding of the marketing strategies used by organisations. You will look at the elements of the marketing mix and their critical interrelationships, examining the competitive environment, customer insights, market information systems, business models, enterprise competencies, control, evaluation and innovation. You will also consider the sustainability of marketing practices in an increasingly globalised consumer society.

Managerial Accounting

In this module you will develop an understanding of the technical and non-technical aspects of management accounting. You will look at traditional costing methods and techniques, such as contribution volume profit analysis (CVP), budgeting, responsibility accounting, transfer pricing, and decision-making, alongside more innovative management tools, including activity based costing (ABC), activity based management (ABM), and the balanced scorecard. You will examine the issues underlying pricing and product offering and consider the importance of quality and cost control as strategic objectives for improving organisational performance.

Human Resource Management

In this module you will develop an understanding of the significance of human resource management in organisations. You will look at the links between product market and human resourcing strategies, the role of human resources planning in workforce management, and polices such as employee participation and involvement, including the role of trade unions in employment relationships. You will examine the regulation of labour markets, employment discrimination and conflict and resistance at work. You will also consider specific human resources practices, such as recruitment and selection, training and development and pay and performance management. 

Year 3

The core modules in Management are:

International Management - Business in Context

 

International Management - Leadership and Innovation

 

Optional modules

In addition to these mandatory course units there are a number of optional course units available during your degree studies. The following is a selection of optional course units that are likely to be available. Please note that although the College will keep changes to a minimum, new units may be offered or existing units may be withdrawn, for example, in response to a change in staff. Applicants will be informed if any significant changes need to be made.

Year 1

Only core modules are taken

Year 2

Only core modules are taken

Year 3

Economics: Industrial Economics

Economics: Financial Economics

Economics: Understanding Financial Crises

Economics: Environmental Economics

Economics: Economics of Warfare

Economics: Experimental Economics

Economics: Monetary Economics

Economics: Topics In Game Theory

Economics: Econometrics

Economics: Financial Econmetrics

Economics: Labour Economics

Economics: Philosophy of Economics

Economics: Public Economics

Economics: Topics in Economics History

Economics: Topics in Development Economics

Economics: Advanced Topics in Game Theory

Economics: Economics of Inequality

Optional modules in Management include:

International Financial Accounting

 

Consumer Behaviour

 

Emerging Markets

 

Asia Pacific Business

 

European Business

 

Corporate Accountability

 

Globalisation of Work

 

International Human Resource Management

 

The Individual at Work

 

Business in International Comparative Perspective

 

Brands and Branding

 

Global Marketing

 

Strategic Management Accounting

 

Strategic Finance

 

Advertising and Promotion

 

Clusters, Small Business and International Competition

 

Business Data Analytics

 

Digital Innovation Management

 

Enterprise Systems Management

 

Project Management

 

Small Business Management and Growth

 

Entrepreneurship Theory and History

 

Corporate Entrepreneurship

 

Innovation, Strategy and the Corporation

 

Accounting for Sustainability

 

Coporate Governance

 

Responsible Entreprenuership

 

Marketing Ethics and Society

 

Teaching is mostly by means of lectures and seminars, the latter providing a forum for students to work through problem sets and applications in a smaller and more interactive setting. Outside of scheduled teaching sessions, students work independently, or collaboratively, researching, reading and preparing for seminars. 

Assessment is usually carried out by end of year examinations as well as class tests and assignments. Final year students can choose to complete an extended essay, which offers students the chance to conduct an original piece of research.

Typical offers

Typical offers
A-levels ABB 
Required/preferred subjects Required: GSCE Maths required at grade A if not taken at A2 level and English GCSE.
At least five GCSE passes at grades A* to C.
Other UK Qualifications
International Baccalaureate

6,5,5 at Higher Level subjects including Maths with 32 points overall. 5 in Standard Level Maths or 6 in Standard Level Maths Methods is acceptable if Maths not taken to Higher Level

BTEC Extended Diploma Distinction, Distinction, Distinction in a relevant subject plus grade A in GCSE Maths
BTEC National Extended Diploma Distinction, Distinction in a relevant subject plus an A2 grade B and grade A in GCSE Maths
BTEC National Extended Certificate

Distinction in a relevant subject plus A-Level grades BB including Maths or grade A in GCSE Maths

Welsh Baccalaureate Requirements are as for A-levels where one non-subject-specified A-level can be replaced by the same grade in the Welsh Baccalaureate Advanced Level Core.
Scottish Advanced Highers

AB plus Highers at published level

Scottish Highers

AABBB including Maths plus Advanced Higher requirements

Irish Leaving Certificate H2,H2,H3,H3,H3 including Maths
Access to Higher Education Diploma Pass with at least 30 level 3 credits at Distinction and 15 level 3 credits at Merit in a relevant subject PLUS GCSE Maths grade A

Other UK qualifications

Please select your UK qualification from the drop-down list below



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International and EU entry requirements

Please select your country from the drop-down list below

English language
requirements

IELTS 6.5 overall with 6.0 in both Reading and Writing and no lower than 5.5 in every other subscore. For equivalencies please see here.

For more information about entry requirements for your country please visit our International pages. For international students who do not meet the direct entry requirements, we offer an International Foundation Year, run by Study Group at the Royal Holloway International Study Centre. Upon successful completion, students can progress on to selected undergraduate degree programmes at Royal Holloway, University of London.

A Economics and Management degree at Royal Holloway, University of London will equip you with an enviable range of practical skills. This combined degree is ideal for students seeking careers in public and private management, in financial institutions, and in government. We will help you to recognise your strengths, skills and abilities so that you can make strong applications for your chosen job or further study.

  • Our graduates are highly employable; 70% have achieved full time employment or embarked on further study within six months of graduation (Unistats 2015).
  • Graduates entered successful organisations such as Royal Capital Management, Credit Suisse, Bloomberg, KPMG, Accenture, Barclays and government departments.
  • Graduates appointed into key roles such as  Investment advisors, sales executive, researcher,  financial analyst, financial broker, economist and chartered accountant.

Home and EU students tuition fee per year 2017/18*: £9,250

International students tuition fee per year 2017/18**: £15,600

Other essential costs***: There are no single associated costs greater than £50 per item on this course

How do I pay for it? Find out more.

*Tuition fees for UK and EU nationals starting a degree in the academic year 2017/18 will be £9,250 for that year. This amount is subject to the UK Parliament approving a change to fee and loan regulations that has been proposed by the UK Government. In the future, should the proposed changes to fee and loan regulations allow it, Royal Holloway reserves the right to increase tuition fees for UK and EU nationals annually. If relevant UK legislation continues to permit it, Royal Holloway will maintain parity between the tuition fees charged to UK and EU students for the duration of their degree studies.

**Royal Holloway reserves the right to increase tuition fees for international fee paying students annually. Tuition fees are unlikely to rise more than 5 per cent each year. For further information on tuition fees please see Royal Holloway’s Terms & Conditions.

***These estimated costs relate to studying this particular degree programme at Royal Holloway. Costs, such as accommodation, food, books and other learning materials and printing etc., have not been included.

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