Economics
 UCAS code L100 BA/Econ |
| Duration Three years |
| Entry requirements Typical A Level offer A*AA Typical IB offer 40–42 points, with 776 or 777 at Higher Level Essential: A Level/IB Higher Level Mathematics. Desirable: A Level/IB Higher Level Economics. Useful: A Level Business Studies/IB Higher Level Business and Management if Economics is unavailable. Admissions Test Some Colleges require applicants to take the TSA at Interview. |
| Colleges Available at all Colleges except Corpus Christi. |
| Applications per place 2010 entry 8 | Open day 2011 Attend a College open day or one of the Cambridge Open Days on 7 or 8 July. |
| Further information Telephone: 01223 335200 Email: ugadmit@econ.cam.ac.uk |
| Website www.econ.cam.ac.uk |
Economics on the Applicant Toolkit: |
Whatever future career path you take, this specialised degree will develop your understanding of economics and give you a valuable insight into topical issues.
How do markets work? What constraints and choices influence everyday and political decision–making? What’s the role of government in making economic policy?
Economics has three main objectives:
- to explain...
Given a wide range of circumstances, how does an individual make a rational choice between the available alternatives? - to understand...
How can we understand the nature of social institutions, such as firms and markets, within which such choices are made? - to analyse...
How do these individuals and institutions interact to generate outcomes for society as a whole?
Economics at Cambridge focuses on giving you a sound understanding of the core of economics, pure and applied. However, while the specialised nature of this degree enables you to concentrate on studying economics in considerable depth, the breadth of the aims outlined above means that economists need to employ modes of thought and techniques drawn from many other disciplines, among them history, sociology, mathematics and statistics, and philosophy.
| "I'd definitely recommend Economics at Cambridge, as the teaching's great and the course is extremely broad. This means that in your first year you're given a taste of the different areas of Economics, and as you progress, you're given the chance to specialise more in the areas you enjoy." – Ares |
Therefore, our course aims to develop your knowledge of the workings of economic systems along with a sense of the economic dimensions of social and political issues.
By integrating theoretical insights with empirical observation, you apply your knowledge and understanding to the practical issues which arise in economic and social policy, industrial and financial management, and many other spheres of life. This means that our graduates are extremely well qualified for a wide range of jobs and further courses.
Faculty resources and teaching
The Faculty of Economics at Cambridge is one of the largest in the UK. Past and present members have played a major role in the development of the subject: Alfred Marshall, John Maynard Keynes and many other distinguished economists spent much of their working lives as members of the Faculty. The Faculty's Senior Chair, Professor Sir James Mirrlees, was awarded a Nobel Prize in Economics in 1996 for his work on optimal taxation and the theory of incentives, and another recent Faculty member, Professor Amartya Sen, was awarded the Nobel Prize in 1998 for his work on welfare economics and income distribution. The present Faculty continues its long–established interest in public economics, macroeconomics, competition and regulation econometrics and economic theory. Members of the teaching and research staff are also involved in a wide range of research projects.
The Faculty remains committed to using economics for the improvement of public policy. Recent Faculty staff have been active on, among other bodies, the Monetary Policy Committee of the Bank of England, the Competition Commission, the Low Pay Commission and the Accounting Standards Board, and several Faculty members advise international agencies such as the United Nations, World Bank, IMF and OECD.
Other benefits of studying economics at Cambridge include the Marshall Library of Economics, one of the finest in the country. It holds a comprehensive collection of books, journals and other papers in economics, as well as convenient study facilities on the same site as the lecture rooms. Students also have access to an extensive range of statistical databases and software.
The student–run Marshall Society is a must for all Cambridge economists: it organises social events as well as informal lectures from distinguished visiting speakers such as the Governor of the Bank of England.
What are we looking for?
We're looking for students with the intellectual curiosity to investigate contemporary and historical patterns of economic behaviour, and a wide–ranging interest in the evolution of the global economy. You should also have good quantitative skills and an interest in applying mathematical and statistical tools to the analysis of economic issues.
Changing course
It’s possible to combine Economics with another subject, for example by taking one or two years of Economics and then transferring to another subject such as Law or Management Studies. You can also study another subject such as Mathematics for one year before transferring to Part IIA Economics. Several students make such changes each year.
Career and research opportunities
At Cambridge, you develop skills in understanding complex arguments, the analysis of practical issues, knowledge of economic conditions, analysis of data, and effective communication. Such skills are of value in many careers, but particularly in professional, financial and managerial occupations. They also provide a valuable foundation for many masters degree courses, both in general economics and in various specialised sub–disciplines, if you're interested in further study.
A substantial number of our graduates go on to professional training in chartered accountancy, actuarial work and similar fields. Others are employed by financial institutions, or as professional economists in industry, government and management consultancy. Former undergraduates who are especially prominent in public offices are the Governor of the Bank of England, Mervyn King, and the Chairman of the Financial Services Authority, Lord Turner.
| Course outline | ||
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Economics is divided into Part I, Part IIA and Part IIB, each lasting a year. Teaching is provided through lectures and supervisions and you can expect between 10 and 14 lectures each week in the first year. Assessment is through formal, written examinations that take place at the end of each year and the compulsory dissertation in Part IIB. Typically you’ll have one three–hour exam for each paper covered that year. There are also projects within the Econometrics papers in all three years of the course. Year 1
Through these papers you cover topics such as supply and demand, the role of prices and markets, employment, inflation, the operation of financial institutions and monetary policy. The Quantitative Methods paper provides an introduction to the use of mathematical and statistical techniques in economics, and is assessed by a combination of a written exam and project work. Year 2
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You also take one optional paper, chosen from:
Through these papers you acquire a knowledge and understanding of a range of key topics and analytical techniques in microeconomic and macroeconomic theory, develop knowledge of key econometric techniques, and learn the IT skills needed to undertake a project in applied econometrics. An optional paper in a supporting discipline enables you to undertake more advanced papers in Part IIB. Year 3 The final year consists of two compulsory papers:
In addition, you take two optional papers and write a compulsory dissertation of 7,500 words. One of the objectives of the final year is to extend your knowledge of economic theory and train you to apply this theory to practical issues and public policy. Therefore, the optional papers available can vary from year to year but examples of recent papers include:
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