Studying Economics at Royal Holloway means that you will learn from internationally renowned experts at one of the UK’s top ten teaching and research centres. Economics is one of the most influential and liveliest disciplines in today's world, affecting the lives and fortunes of everyone on the planet. This course offers a complete education in the theories and methods of economics, with a strong focus on analytical methods. The knowledge and transferable skills gained 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 and experience in logical and philosophical reasoning.
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.
- Flexibility to specialise in areas, including: labour economics, industrial economics, financial economics, economics of warfare, economics of inequality and game theory.
- Quality research and teaching; one of only two economics departments in the country placed in the top ten for both research and student satisfaction (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 - our 8,500 students come from over 130 countries.
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.
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.
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.
International Economic Policy
This is an introductory module that explores economic policy issues of international dimension from both a theoretical and empirical perspective. Using economic tools, you will learn how to analyse and tackle issues that impact the lives of people around the globe.
In this module you will gain an understanding of how economics is defined, the meaning of fundamental economic concepts, the role of mathematical models, and the role of ethics. You will look at what the term ‘economics’ stands for and the sub-disciplines that exist. You will see how normative and positive economics differ and understand the role of mathematical models. You will consider the fundamental concepts of economics, how and why they were developed, and look in depth at the homo economicus model with a focus on rationality and self-interest. Finally you will consider ethical and moral issues and how they relate to economics, such as discrimination and fairness.
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.
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.
All modules are optional
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
Financial Markets and Institutions
Industrial Growth and Competition
Introduction to Economic Growth
Understanding Financial Crises
Economics of Warfare
Topics In Game Theory
Philosophy of Economics
Topics in Economics History
Topics in Development Econonomics
Advanced Topics in Game Theory
Dissertation in Economics
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.
Applicants must be taking Maths, Biology, Chemistry or Physics at A-Level, or have a GCSE Maths grade to meet the Maths requirement for this programme.
At least five GCSE passes at grades A* to C.
Other UK Qualifications
6,5,5 at Higher Level subjects with 32 points overall.
Applicants must be taking Maths, Biology, Chemistry or Physics at Higher Level or achieve 5 in Standard Level Maths or 6 in Standard Maths Methods to meet the maths requirement for this programme. Maths GCSE grade A is also accepted.
|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 A2 grades BB including Maths or grade A in GCSE Maths
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 including Maths or Maths GCSE grade A if Maths not taken at Higher or Advanced Higher level
AABBB 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
Please select a qualification
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International and EU entry requirements
Please select your country from the drop-down list below
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.
An Economics degree at Royal Holloway will equip you with an enviable range of practical skills and can lead into a variety of career paths. Employers recognise and reward the real knowledge and skills developed in an Economics degree.
We will help students to recognise their own strengths, skills and abilities so that they can make strong applications for their chosen job or further study. We also provide support through a dedicated careers programme, which includes: employability workshops, events and guess speakers.
- Our graduates are highly employable and 86% have achieved full time employment or embarked on further study within six months of graduation (Unistats 2015).
- In recent years, graduates have launched careers with a wide-range of organisations and government departments in roles including financial analyst, finance broker, government 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.