Studying Economics with German at Royal Holloway means that you will learn from internationally renowned experts at one of the UK’s top ten economics teaching and research centres and spend a quarter of your time studying German with leading experts. Economics is one of the most influential and liveliest disciplines in today's world, affecting the lives and fortunes of everyone on the planet. The knowledge and transferable skills gained, coupled with proficient German language skills, will lead to excellent career prospects in public and private management, financial institutions and in government.
Through this course you will develop an in-depth understanding of economics at all levels – from the company to the state, and beyond; you will learn to appreciate and apply the core theories of micro and macroeconomics; gain important quantitative and computing skills that are widely applicable as well as skills in logical reasoning and gain experience in logical and philosophical reasoning. Your added focus on German means you will develop advanced technical proficiency in reading, writing, speaking and listening.
Our balanced approach to research and teaching guarantees high quality teaching from subject leaders, cutting edge materials and intellectually challenging debates. Our courses follow a coherent and developmental structure which we combined with an effective and flexible approach to study.
- Excellent career prospects; economics has an impressive employment record and graduates’ starting salaries are amongst the highest in the country.
- Highly rewarding and engaging; German is the most widely spoken first language and Germany is the largest economy in the EU, making study of the German language commercial valuable as well as culturally enriching.
- Quality research and teaching;one of only two economics departments in the country placed in the top ten for both research and student satisfaction, we are also in the top ten of UK Modern Languages departments for research quality, and first in London (Research Assessment Exercise, 2014 and National Student Survey 2015).
- 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.
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.
Economics: Post-Crisis Economics
This module covers economic institutions, economic history, post-crisis economics, and experimental and behavioural economics. You will be provided with an overview of each of these topics based on economic theory, followed by applications and relevant supporting data. You will discuss the topics and learn how to write an essay, how to present, how to collect economic data, how to find relevant economic research, and how to think like an economist.
German: Intensive Beginners' German 1
This is your core German language module (beginners’ pathway). In five weekly seminars you will be introduced to the German language and begin to develop a knowledge of vocabulary and core grammar, as well as oral and listening comprehension skills.
German: German Language 1
This is your core German language module in which you will develop your skills in writing, speaking and comprehending the German language. There will be three seminar hours per week alongside a fortnightly grammar lecture. You will focus on written German, oral practice and grammar, and study a range of texts and topics. The skills you will acquire include the writing of formal letters (letter of complaint, letter to the editor, etc.) and short essays, and presentation delivery in German.
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.
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.
Economics: Quantitative Methods of Economics 2
The first half of this module is dedicated to the mathematical theory of optimisation, where you will study linear algebra and the theory of concave functions. The second half is intended to provide you with a solid understanding of the essentials of empirical research techniques (econometrics) used by applied economists.
German: German Language 2
This is your core German language module in which you will continue to develop your skills in writing, speaking and comprehending the German language. There will be three seminar hours per week alongside a fortnightly grammar lecture. You will focus on written German, oral practice and grammar. The module will again include an element of ‘German for business purposes’, dealing with business related text genres, such as business letterers and report writing.
German: German Language 3
This is your core German language module in which you will continue to develop your skills in writing, speaking and comprehending the German language. There will be three seminar hours per week. In your grammar class you will work on the effective use of written register and style, and the presenting of a convincing argument. Your oral German classes will include debates and presentations. You will also be introduced to advanced translation skills, focusing on a variety of functional, literary, journalistic, factual and academic texts.
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.
Only core modules are taken
Only core modules are taken
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: Financial Econometrics
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
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.
The results of the first year examinations qualify students for entry to the second year but do not contribute to the final degree award. The second and final year results do contribute to the final degree result, with the final year work counting for a larger proportion of the result.
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.