Subject Specific Info Pack - What do we study in Economics?
- Oscar Chong
- Nov 8
- 3 min read
Q:
How different is studying Economic at Oxbridge and other universities?
A:
Economics is the study of choice under scarcity of resources. For secondary-school level economics, students are asked to apply the theories to real-life situations qualitatively. Yet, for university-level economics, this differs greatly. In university, students need to use both qualitative and quantitative methods to explain theories, demonstrating a high requirement for mathematical skills. Microeconomics, Macroeconomics and Quantitative methods for Economics are compulsory in every university.
Some universities, including Oxbridge and Durham, are offering a Bachelor of Arts (BA) in Economics course, while others have a Bachelor of Science (BSc). BA may have more essay-based optional modules provided for specialisation compared to BSc. The exact course structure varies across all universities. Moreover, interdisciplinary courses in Economics are common in the UK, such as Economics and Finance / Mathematics / Politics etc. There are also four-year courses with a year abroad or a year in placement. Universities have also started providing courses related to data science and programming as the demand expands. For example, there is a new Economics, Finance and Data Science course at Imperial.
Q:
Comparing Oxbridge and non-Oxbridge: Pure Economics at Oxford?
A:
Cambridge Economics is more interdisciplinary in the first year. Apart from microeconomics, macroeconomics and quantitative methods, politics and history are also compulsory. There is increased specialisation in the second and third years.
Economics at Oxford differs from other universities since it does not provide pure Economics. It only provides Economics and Management (E&M), History and Economics (H&E) or Philosophy, Politics and Economics (PPE).
E&M: The course structure of E&M in year 1 is a combination of three modules:
Introductory economics, General and Financial management. Students only need to study at least one of the Micro, Macro, and Quantitative methods or Economics History in the following years. It is more flexible and similar to a degree in business.
H&E: With History placed first in the course title, H&E has a heavier emphasis on History compared to Economics. In Year 1, students will study four courses including Introductory Economics, European and World History, Approaches to History and British and French Industrialisation.
Q:
Different between studying at Oxbridge and other London universities.
A:
Comparing pure Economics at Cambridge with other London universities, content-wise, the unique thing about Cambridge is that first-year students will learn about politics and history, which helps to understand the origin and application of various theories. When comparing Oxford and London universities, the choices in courses offered may differ. If students are only interested in pure Economics, Oxford is probably not for you. On the other hand, if you are unsure of your career path, Oxford could provide greater flexibility for you to develop in various disciplines.
Q:
What are the future career prospects after studying Economics?
A:
A common fallacy is that economics is about business or finance.
However, this would be an unwise reason to apply to a pure Economics course, as it is not covered in the course. An economics degree opens you up to a broad career prospect.
Nevertheless, a lot of graduates do choose to work in the financial industry, like investment banking, sales and trading, quantitative finance, asset management etc. Consulting, accounting and auditing, education or working in the public sector, IGOs and NGOs are other typical options.
Students may also choose to pursue postgraduate study and research.
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