also available in 2017
A Level Requirements
see all requirements
see all requirements
Full time 4 Year(s)
We teach Economics, and the supporting analytical methods, from first principles, making our four-year degree equally suited to students with an A Level in Economics or beginners who have not studied it before. Our course weaves theory and evidence into policy analysis so that you can analyse and understand fundamental issues and topical concerns. You’ll be able to choose from a wide range of optional Economics modules, or minor subjects, to tailor your studies to suit your interests and aspirations.
You begin your degree with modules including Principles of Economics and Quantitative Methods for Economics. You’ll also choose a third subject drawn from Management School disciplines or from other subject areas like Politics, International Relations or Geography. In your second year, you’ll move on to courses such as Introduction to Econometrics, Intermediate Micro and Macroeconomics and some specialist modules, for example Game Theory. It is also possible to continue your study of a minor subject through your second and fourth years.
You will then spend your third year undertaking an industrial placement before returning to Lancaster for your fourth year where you will choose up to eight topics in Economics for specialist study, with each taught by an active researcher in the field. These include, for example, Public Economics, Human Resource Economics, Industrial Organisation, International Trade and International Business. Students who have performed well in their studies are also offered the opportunity of completing a Dissertation module in the third year.
A Level AAB
GCSE Mathematics grade B, English Language grade B
IELTS 6.5 overall with at least 5.5 in each component. For other English language qualifications we accept, please see our English language requirements webpages.
International Baccalaureate 35 points overall with 16 points from the best 3 Higher Level subjects
BTEC Distinction, Distinction, Distinction
Access to HE Diploma in a relevant subject with 30 Level 3 credits at Distinction and 15 Level 3 credits at Merit
We welcome applications from students with a range of alternative UK and international qualifications, including combinations of qualification. Further guidance on admission to the University, including other qualifications that we accept, frequently asked questions and information on applying, can be found on our general admissions webpages.
Contact Admissions Team + 44 (0) 1524 592028 or via firstname.lastname@example.org
Many of Lancaster's degree programmes are flexible, offering students the opportunity to cover a wide selection of subject areas to complement their main specialism. You will be able to study a range of modules, some examples of which are listed below.
Your preparation your placement year starts with this module which is delivered by the LUMS Careers Team and invited employers. This module will support you in creating suitable CVs, covering letters, application forms and completing psychometric tests. At the end of the module you will have the opportunity to attend a formal assessment centre and an interview with some of the top graduate recruitment teams in the UK.
Providing a thorough introduction to the discipline of Economics, this module is divided into two parts. The first part covers microeconomic analysis, including the theory of demand, costs and pricing under various forms of industrial organisation, and welfare economics. Many applications of theoretical models are examined. The second part focuses on macroeconomic analysis, including national income analysis, monetary theory, business cycles, inflation, unemployment, and the great macroeconomic debates.
This module integrates elementary economic theory, mathematical and statistical methods and the interpretation of data in order to analyse economic issues of current policy importance. You will therefore be introduced to the basic tools of mathematics essential for a proper understanding of economics and business. Teaching on quantitative methods is combined with numerous practical applications to economics, enabling you to practise applying your analytical and quantitative skills to the topics developed and analysed in depth over the course of the module.
This module is designed to extend the knowledge of macroeconomics principles you acquired in Year 1.
classical and Keynesian views
the role of money
real balance and wealth effects
government budgetary constraints
monetary policy in the UK
models of exchange rate determination
Although the main focus of the module is on macroeconomic theory, this is taught within the context of current events in the international macroeconomic environment. You are encouraged to use your knowledge of macroeconomic theory to gain a better understanding of current macroeconomic events and issues.
This module emphasises the application of macroeconomic theory to current policy issues.
Considerable emphasis is placed on using analytical tools to gain a better understanding of the workings of the macroeconomy and the ways in which policy-makers respond to macroeconomic problems.
unemployment and inflation
adaptive and rational expectations
policy effectiveness under rational expectations
the economics of independent central banks
This module explores the decision-making of economic agents (consumers and firms), and also examines how different market mechanisms operate to allocate resources. The topics it covers include utility maximisation, profit maximisation, cost minimisation, and introduction to market structures.
The module requires algebra, elementary calculus, logical thinking and problem solving ability, and is normally taken in conjunction with Intermediate Microeconomics II (ECON221).
This module builds on learning gained in Intermediate Microeconomics 1 (ECON220), developing on the theories and concepts covered as well as focusing on a range of new topics.
analysis of monopoly behaviour and regulation
price and quantity setting in duopoly markets
introduction to game theory and strategic behaviour by firms
auctions (including a study of eBay)
general equilibrium and welfare economics
The module is normally taken in conjunction with ECON220.
This module provides an introduction to the theoretical concepts and applications of econometrics.
Econometric techniques taught include bivariate regression, multiple regression and two stage least squares. The importance and relevance of statistical and diagnostic testing is emphasised in the context of econometrics applications. You will also learn how to use the statistical package SPSS, understanding of which is an integral part of the module.
This module brings together economic theory and mathematical methods as a basis for constructing and using mathematical models to analyse economic problems.
The module covers matrix algebra, constrained optimisation, comparative statics and integral calculus. Knowledge of these methods will give you a broader understanding of intermediate and advanced microeconomics and macroeconomics.
This course provides students with general knowledge and understanding concerning social research and particular methods and methodologies that lay within the positivist, interpretivist and critical paradigms. The course is aimed at students from across the management school disciplines that are undertaking a year long industrial placement and producing a dissertation upon return to study in their final year. There is also a range of supplementary information regarding the support available once on placement and a link to the sister module OWT.250b.
This module helps you to explore the connections between economic theory and econometric and statistical methods as applied to issues of global significance.
The areas it covers include:
the economics of food security
the economics of crime, including cybercrime and the effects of deterrents and policing on crime
the transatlantic financial crisis: its causes, consequences and the future of macroeconomics poverty and inequality
This module focuses on the role of governments within the economy, looking at the extent to which they can intervene in markets and in other areas such as climate change. It builds your skills in evaluating the effectiveness of economic policies, and provides insights into the difficulties of decision-making in collective-choice environments.
Over the course of this module, you will enhance your knowledge and understanding of how to specify economic problems in the confines of a game-theoretic model and to solve those problems using appropriate mathematical techniques. The module aims to build your capacity for logical and structured problem analysis.
Information for this module is currently unavailable.
This module equips students with experience of working within a business environment. You are expected to acquire not only knowledge of business problems and practices, but also experience of interpersonal relationships within a business context. The dissertation is undertaken during the work placement year.
This module gives an overview of important topics in macroeconomics. Topics covered include the stabilisation policy under rational expectations, the Lucas critique of policy evaluation, and the implications of asset market efficiency for macroeconomic behaviour. The relevance of theory to these issues is emphasised throughout the module.
This module develops advanced topics in the field of microeconomic analysis, with an emphasis on formal mastery as well as intuitive interpretation and understanding.
This module develops your understanding of the application of macroeconomic theory and quantitative methods to the analysis of international economics and the economic history of the UK, and the pound sterling in particular. It also helps you to understand the role of international economics and finance in the world economy.
The module integrates intermediate macroeconomic theory, statistical methods, the interpretation of data, and empirical results. Analysis is applied to macroeconomic issues important to businesses and policymakers – including exchange rate regimes, international parity conditions, business cycles, and monetary unions.
This module develops your understanding of advanced material in the field of economic growth as well as the problems of economic development. There is particular reference to the application of theoretical material to the development experience and policy-making in developing and emerging economies.
This module equips you with the tools needed to conduct applied econometrics. It emphasises an analytical and intuitive understanding of the classical linear regression model, and also covers newer topics such as:
binary choice models
non-stationary time series
unit root tests and basic cointegration
You will use the Eviews econometrics software.
This applied module is designed as an introduction to the economics of health and health care, and helps to develop your awareness of the main policy issues in this field. It provides a comprehensive set of economic tools for critically appraising fundamental issues in the economics of health while offering a broad overview of the UK National Health Service and other health care systems around the world. The emphasis is on the use and interpretation of microeconomic models and the latest empirical evidence.
This module focuses on firm behaviour and competition, using theoretical (especially game theoretic) and empirical models. It also explores the relationship between industry structure and firm conduct, together with aspects of firm behaviour such as advertising, R&D and mergers.
This module develops your understanding of advanced material in the field of international business. There is particular emphasis on analysing the strategic economic and financial behaviour of multinational firms in the global economy. The module also considers the role and effects of government intervention on firms and multinational firms and how they adapt.
This module develops your understanding of concepts and theories of international trade and factor flows, with particular reference to the way in which such material can inform policy-making.
You will gain knowledge and understanding of international trade theory, and learn to apply this theory to the analysis of present-day policy issues in international economics.
Focusing on the microeconomics of labour and personnel, this module covers topics such as the economics of migration, wage determination, job search and labour market discrimination.
There is a particular emphasis on principal agent problems in human resources and the design of incentives within firms.
Economics theory is used to analyse the operation of labour markers and assess the empirical evidence. Areas covered include:
This module trains ambitious economists to use formal mathematical methods used in economic modelling. These techniques are necessary for students interested in pursuing postgraduate studies in economics or working in analytically demanding jobs in the private sector. You will learn to use the Mathematica software package and how to address and solve economic problems by means of abstract models.
The first part of the module is more micro-oriented and you will learn further methods of integration and what metric spaces and existence theorems are. You will also learn what quasi-concave and quasi-convex functions are and how to optimise with inequality constraints. The second part of the course is more macro-oriented and you will learn how to solve differential equations and perform dynamic optimisation.
This module examines the essential characteristics of a money economy, and the topics covered include:
Interest rate determination
Monetary and labour market disequilibria
The national debt and monetary disequilibrium (fiscal monetarism)
Monetary and international payments disequilibria
Rational expectations (RE) solutions and applications to stabilisation policy
Market efficiency and the application of RE to bubbles and to exchange rates
The central bank and inflation bias
This module is concerned with understanding the role of government in the economy. Among the topics covered are the characteristics of public goods, basic characteristics of a tax system under both classical and political economy approaches, and the effects of globalisation and its effects on modern tax systems. The module also explores how economic models can be used to understand current affairs.
This module looks at how theoretical and empirical methods can be applied to the growing field of sports economics.
It helps you to understand the particular characteristics of labour and product markets in professional sports, and what implications these have for economic analysis. You will also learn more about how theoretical and empirical work in the economics of sport can be used to inform policy issues, including competitive structures in sports leagues, free agency and player mobility, and the financing of professional sport. You will also gain insights into how betting markets function and why people gamble on sports.
Lancaster University offers a range of programmes, some of which follow a structured study programme, and others which offer the chance for you to devise a more flexible programme. We divide academic study into two sections - Part 1 (Year 1) and Part 2 (Year 2, 3 and sometimes 4). For most programmes Part 1 requires you to study 120 credits spread over at least three modules which, depending upon your programme, will be drawn from one, two or three different academic subjects. A higher degree of specialisation then develops in subsequent years. For more information about our teaching methods at Lancaster visit our Teaching and Learning section.
Information contained on the website with respect to modules is correct at the time of publication, but changes may be necessary, for example as a result of student feedback, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes, and new research.
Our degrees are designed to prepare you for a career in industry, business, finance, consultancy or government. Recent Economics graduates have joined banks and financial consultancies such as HSBC and Deloitte, while others have been employed on graduate schemes with major companies, including BAE and the Swire Group.
Many of our Economics students have gained places on postgraduate courses at top institutions and then pursued specialised careers as economists – for example, at the Bank of England, the Institute for Fiscal Studies, and in academia.
Lancaster Management School has an award winning careers team to provide a dedicated careers and placement service offering a range of innovative services for management school students. Our high reputation means we attract a wide range of leading global employers to campus offering you the opportunity to interact with graduate recruiters from day 1 of your degree.
We set our fees on an annual basis and the 2018/19 entry fees have not yet been set.
As a guide, our fees in 2017 were:
Some science and medicine courses have higher fees for students from
the Channel Islands and the Isle of Man. You can find more details here:
Lancaster University's priority is to support every student to make the most of their life and education and we have committed £3.7m in scholarships and bursaries. Our financial support depends on your circumstances and how well you do in your A levels (or equivalent academic qualifications) before starting study with us.
Scholarships recognising academic talent:
Continuation of the Access Scholarship is subject to satisfactory academic progression.
Students may be eligible for both the Academic and Access Scholarship if they meet the requirements for both.
Bursaries for life, living and learning:
Students from the UK eligible for a bursary package will also be awarded our Academic Scholarship and/or Access Scholarship if they meet the criteria detailed above.
Any financial support that you receive from Lancaster University will be in addition to government support that might be available to you (eg fee loans) and will not affect your entitlement to these.
For full details of the University's financial support packages including eligibility criteria, please visit our fees and funding page
Please note that this information relates to the funding arrangements for 2017, which may change for 2018.
Students may incur travel costs dependant on their placement location.
Students also need to consider further costs which may include books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation it may be necessary to take out subscriptions to professional bodies and to buy business attire for job interviews.