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Accounting, Finance and Economics BSc

This programme will not be available for entry in September 2018

UCAS code L117
Year of entry 2017
Course Length
3 years full time
Department Management »
Economics »

 

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 Account, Finance and Economics 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 combined course will demonstrate how the theoretical models used within accounting and economics can apply to current financial contexts and solutions. The valuable context this degree will give you, combined with the interpersonal and transferable skills, will lead to 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 and develop skills in mathematics and statistics and learn to tackle economic problems.You will also study the core areas of financial accounting, management accounting and financial management and obtain a thorough knowledge of both the theory and practice. As well as developing a creative approach to problem solving that produces effective financial management results.

  • Excellent career prospects in many areas, including: accounting, banking, consultancy, finance and general management.
  • Excellent position to pursue a career in finance, having gained an enviable range of practical and accounting skill, as well as an enhanced knowledge of the financial markets, experience in analysing data and applying statistical techniques and strategic thinking.
  • Innovative and effective Management School; 81% student satisfaction (National Student Survey 2015).
  • Inspiring international community; 60% of our Management students come from overseas and the 8,500 students at Royal Holloway, University of London are from 130 countries.

Core modules

Year 1

Accounting and Finance: 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.

Accounting and Finance: 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 and Finance: 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. 

Accounting and Finance: 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.

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.

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.

Year 3

Economics: Financial Economics

This module is designed to provide an insight into the nature of financial markets and how they are used by investors and corporations. You will develop an understanding of equity markets, bonds and derivatives, and acquire a number of skills to be applied to the analysis of problems in financial economics.

Accounting and Finance: Strategic Management Accounting

In this module you will develop an understanding of financial management control strategy within a systems context. You will look at the dependencies and relationships that impact on a business model, analysing the revenue and internal operating architecture. You will consider the role of management accounting in a changing environment, and capitalisation issues including leasing and off-balance-sheet financing. You will examine the impact of mergers and acquisitions on businesses, and see how strategic control tools and techniques are used, such as responsibility accounting and transfer pricing. You will also analyse the relationship between product markets, internal organisation cost structures and capital market expectations, and how they impact on strategy.

Accounting and Finance: Strategic Finance

In this module you will develop an understanding of financial links to strategy, in particular the enabling characteristics, and limitations of finance in strategic decision making. You will look at the workings of international capital markets, with emphasis on the pricing of bonds and equities, becoming familiar with concepts such as net present value, risk and return, options, and mergers and acquisition. You will also consider issues that shape strategic business decision-making, exploring the current business context within which finance operates and the factors that can promote or frustrate strategic outcomes.

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

Accounting and Finance: Strategic Management

In this module you will develop an understanding of the theories of strategic management. You will consider these theories 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 changes in the way corporate performance is assessed. You will look at key concepts and debates in the theory of corporate and business strategy, and examine the changing context in which corporate strategy is formulated and implemented.

Accounting and Finance: 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.

Accounting and Finance: Financial Management

In this module you will develop an understanding of fundamental concepts in finance, with an emphasis on corporate financial management. You will look at financial markets and institutions and how these impact a company’s financial strategy, and examine the techniques of capital budgeting, such as net present values and internal rate of return, including inflation and tax treatment. You will also consider sources of finance to a firm, management of risk, portfolio theory, and corporate valuation.

Accounting and Finance: Employability

In this module you will develop an awareness of the challenges associated with gaining employment in the contemporary workplace. You will learn about work experience, internships, and part-time employment opportunities, and receive guidance on how to complete applications, become familiar with what to expect from an assessment centre, and develop your interview technique. You will participate in a range of activities including business games, quizzes, coaching exercises, and hear from industry speakers offering insights into what it’s like to work in a particular sector or company.

Year 3

Accounting and Finance: International Financial Accounting

Accounting and Finance: Accounting for Corporate Accountability

Accounting and Finance: Environmental and Ethical Economics

Accounting and Finance: Accounting for Sustainability

Accounting and Finance: Corporate Governance

Economics: Industrial Economics

Economics: Understanding Financial Crises

Economics: Environmental Economics

Economics: Economics of Warfare

Economics: Experimental Economics

Economics: Monetary Economics

Economics: Game Theory

Economics: Econometrics

Economics: Financial Econometrics

Economics: Labour Economics

Economics: Philosophy of Economics

Economics: Public Economics

Economics: Topics in Economic 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. 

The course makes extensive use of Moodle, the College’s online learning platform, in support of its classroom teaching and resources are made available to assist students with their independent study.

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: Maths A level or GCSE Maths grade A 

5 GCSEs A*-C including English and Maths

Other UK Qualifications
International Baccalaureate

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

BTEC Extended Diploma

Distinction, Distinction, Distinction in relevant subject plus grade A in GCSE Mathematics.

BTEC National Extended Diploma

Distinction, Distinction in a relevant subject plus an A level grade B and minimum grade A in GCSE Mathematics

BTEC National Extended Certificate

Distinction in a relevant subject plus A levels grade BB including Mathematics. GCSE Mathematics grade A is acceptable if Mathematics has not been taken at A-Level

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 Adv Level Core.

Scottish Advanced Highers

AB plus Higher at published level.

Scottish Highers

AABBB including Maths plus Advanced Highers at published level.

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 at grade A.

Other UK qualifications

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



Please select a qualification

Please select a qualification



International and EU entry requirements

Please select your country from the drop-down list below

English language
requirements
IELTS 6.5 overall with subscores of 6.0 for reading and writing and a 
minimum of 5.5 for remaining subscores. 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 Accounting, Finance and Economics degree at Royal Holloway offers you a clear route into the financial profession. It is highly regarded by employers because of the deep understanding of finance paired with an analytic capability, all set in the context of the economic business environment. 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.

  • Full time employment or further study achieved by 90% of Finance and Accounting graduates and 85% of Economics graduates within six months of graduation (Unistats 2015).
  • Graduates entered accounting firms, investment banks, trusts and government departments in roles such as financial analyst, finance broker, government economist and trainee chartered accountant.
  • Graduates appointments have included Associate at Ernst and Young, Trainee Accountant at Garners Chartered Accountants and Financial Analyst at Johnson and Johnson.

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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