Last Updated on December 15, 2022

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Economics and Management

BSc

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Guarantee to A-level applicants

If we make you an offer for this course for 2022 entry, we guarantee to confirm your place even if one of your final A-level results is one grade below those you have received in that offer. Equivalencies and exclusions apply. 

Course options

Economics and Management

BSc

Key information

Duration: 3 years full time

UCAS code: LN12

Institution code: R72

Campus: Egham

UK fees: £9,250

International/EU fees: £19,300

Economics and Management with a Year in Business

BSc

The course

Economics and Management (BSc)

This course is provided jointly by one of the UK’s top ten teaching and research centres for Economics and our innovative School of Business and  Management. Studying Economics and Management 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 intellectually stimulating and diverse course combines two highly complementary subjects and covers the core course of the Economics degree with that of the Management degree. Selecting this degree will provide you with the knowledge and skills that will give you 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: develop skills in mathematics and statistics and learn to tackle economic problems: gain an understanding of management from strategy to marketing, and accounting to e-commerce, with an emphasises the case study approach.

• In depth understanding of most recent economic theories.
• Economics is everywhere from business to beauty.
• Excellent career prospects in management, by examining real life case studies with input from business stakeholders.

From time to time, we make changes to our courses to improve the student and learning experience, and this is particularly the case as we continue to respond to the Covid-19 pandemic. If we make a significant change to your chosen course, we’ll let you know as soon as we can.

Course structure

Core Modules

Year 1

You will take the following modules in Economics:

•  Principles of Economics
• Data Skills for Economists
•  Mathematics for Economics
•  Employability 1

You will take the following modules in Management:

•  International Business
•  Management First
•  Accounting
•  Organisation Studies

Year 2

You will take the following modules in Economics:

•  Macroeconomics
•  Employability 2

You will choose one of following modules:

•  Microeconomics
•  Microeconomics A

You will take the following modules in Management:

•  Strategic Management
•  Marketing Strategy in Context
•  Managerial Accounting
•  Human Resource Management

Year 3

You will take the following modules in Economics:

•  Employability 3

You will take the following modules in Management:

•  Integrating Management – Business in Context

Optional Modules

There are a number of optional course modules available during your degree studies. The following is a selection of optional course modules that are likely to be available. Please note that although the College will keep changes to a minimum, new modules may be offered or existing modules 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

• All modules are core

Year 2

• All modules are core

Year 3

Optional modules in Economics may include:

•  Industrial Economics 1
•  Financial Economics 1

Optional modules in Management may include:

•  Strategic Finance
•  Consumer Behaviour
•  International Financial Accounting
•  Emerging Markets
•  Asia Pacific Business
•  European Business
•  Accounting for Corporate Accountability
•  The Globalisation of Work
•  International Human Resource Management
•  The Individual at Work
•  Business in International Comparative Perspective
•  Brands and Branding
•  Global Marketing
•  Strategic Management Accounting
•  Advertising and Promotion
•  Clusters, Small Business and Entrepreneurship
•  Business Data Analytics
•  Digital Innovation Management
•  Business Process Applications
•  Social Media, Networks and Business
• Small Business Management and Growth
•  Entrepreneurship: Theory and History
•  Corporate Entrepreneurship
•  Innovation, Strategy and the Corporation
•  Organisations and Accountability
•  Corporate Governance
•  Responsible Entrepreneurship and Innovation
•  Marketing Ethics and Society

Teaching & assessment

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.

Entry requirements

A Levels: AAB-ABB

Required subjects:

• GCSE Maths at grade A or 7.
• At least five GCSEs at grade A*-C or 9-4 including English and Mathematics.

English language requirements

All teaching at Royal Holloway (apart from some language courses) is in English. You will therefore need to have good enough written and spoken English to cope with your studies right from the start.

The scores we require

• IELTS: 6.5 overall. Reading and writing 6.0.  No other subscore lower than 5.5.
• Pearson Test of English: 61 overall. Reading and writing 54. No subscore lower than 51.
• Trinity College London Integrated Skills in English (ISE): ISE III.
• Cambridge English: Advanced (CAE) grade C.

Country-specific requirements

Undergraduate preparation programmes

For international students who do not meet the direct entry requirements, for this undergraduate degree, the Royal Holloway International Study Centre offers following pathway programmes designed to develop your academic and English language skills:

• International Foundation Year – for progression to the first year of an undergraduate degree
• International Year One – for progression to the first year of an undergraduate degree

Upon successful completion, you can progress to this degree at Royal Holloway, University of London.

Your future career

An Economics and Management degree at Royal Holloway, University of London will equip you with an enviable range of practical skills and can lead you into a variety of career paths. This combined degree is ideal for students seeking careers in public and private management, in financial institutions, and in government. 

We will help you to recognise your own strengths, skills and abilities so that you can make strong applications for your chosen job or further study.  We also provide support through short dedicated careers modules, which include employability workshops, events and guest speakers.

• Get equipped with transferable skills such as numeracy problem-solving, computing and analytics
• Develop your professional network by attending workshops, events and guest speaker talks
• Dedicated short employability modules to help you in your career

Fees & funding

Home (UK) students tuition fee per year*: £9,250

EU and International students tuition fee per year**: £19,300

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 about funding options, including loans, scholarships and bursaries. UK students who have already taken out a tuition fee loan for undergraduate study should check their eligibility for additional funding directly with the relevant awards body.

*The tuition fee for UK undergraduates is controlled by Government regulations. For students starting a degree in the academic year 2021/22, the fee will be £9,250 for that year. The fee for UK undergraduates starting in 2022/23 has not yet been confirmed.

**The UK Government has confirmed that EU nationals are no longer eligible to pay the same fees as UK students, nor be eligible for funding from the Student Loans Company. This means you will be classified as an international student. At Royal Holloway, we wish to support those students affected by this change in status through this transition. For eligible EU students starting their course with us in September 2022, we will award a fee reduction scholarship equivalent to 60% of the difference between the UK and international fee for your course. This will apply for the duration of your course.

Fees for international students may increase year-on-year in line with the rate of inflation. The policy at Royal Holloway is that any increases in fees will not exceed 5% for continuing students. For further information see fees and funding and our terms and conditions.

***These estimated costs relate to studying this particular degree at Royal Holloway during the 2021/22 academic year, and are included as a guide. Costs, such as accommodation, food, books and other learning materials and printing etc., have not been included.

Economics And Management Jobs

An economics degree will boost your employability in many areas, regardless of the industry you work in. There is strong demand for highly numerate graduates throughout the global labor market, and the widely transferable analytical and problem-solving skills developed by economics students means that careers in economics are extremely wide ranging and diverse.

Below are a range of popular economics careers, with details on what to expect and the skills you’ll need. For more advice on getting a graduate job, read our guide on how to find a job after university. 

What can you do with an economics degree?

Common career paths for economics graduates include:

While some choose to continue to study economics at graduate level (e.g. a Masters in Economics), this is not a necessity to find a good graduate job. This shouldn’t deter you from further study if you’re aiming at highly specialized roles (such as becoming a professional economist), but it’s useful to know that economics careers in finance and other sectors are widely available to those with just a bachelor’s degree. See below for more common careers in economics.

Professional economist careers

As a professional economist, you’ll be involved in researching and analyzing economic data, issues and trends. For the majority of economist careers, you’ll need to study economics at postgraduate level to gain the specialist skills required. To be a professional economist you’ll also need to be confident in producing economic forecasts and reports to present to clients (individuals, companies, financial organizations and public bodies) and to advise on policy and/or business strategy accordingly.

Possible employers include local and national government, public and private banks, insurance companies, think-tanks, large multinational companies, financial consultancies, accountancy firms and local authorities. A sound awareness of current affairs and economic contexts is essential in these roles.

Economics careers in banking

Banking careers are very popular with economics graduates, offering scope for high earnings and have a high demand for economists. Graduates with a background in economics are particularly valued for roles in financial control, financial planning, risk analysis, data analysis and consultancy. With a focus on keeping the financial requirements of clients and businesses on track, banking careers are largely concerned with advising and providing services for a range of banking clients and consumers.

Economics careers in accountancy

To become a qualified accountant you’ll need further professional qualifications, but many accountancy roles are available to those who studied economics. In accounting roles you can work across multiple industries, focusing on monitoring the financial situation of an organization, business or individual. Careers in accountancy typically focus on recording, classifying, interpreting and communicating financial data.

These careers require strong analytical skills, mathematical proficiency, computer literacy, an understanding of all elements of company finances, and the ability to contextualize the data collected. Economics graduates are often able to make sense of complex data sets and identify the root of financial problems, making them good matches for accountancy roles.

Economics careers in business and financial consultancy

Economists and economics experts are at the heart of the business world and financial consulting. Economics graduates may find positions in large and medium-sized organizations where economic research is required. The role of an economic researcher requires in-depth knowledge of economic theories and models, thorough analytical and problem-solving skills and mathematical ability. Financial consultants in the area of economics would fill similar roles but may work for multiple clients instead of just one organization, producing reports and advising on business strategy. Up-to-date industry knowledge and awareness of corporate finance is essential in these roles.

Economics careers in the public sector

Those who study economics will be valued in all areas of public and private spending, including roles within pricing and risk analysis, financial consultancy and economic planning. Economist careers in the public sector are often involved in public taxation, transport, commercial and waste services, energy and other forms of government spending. Thanks in large part to the most recent global recession, and the tightening of economic regulation by governments across the globe, economics students are currently seeing an increase in demand in this sector.

Actuarial and data analysis careers in economics

An actuary is a business professional whose role is to evaluate and advise on the impacts of financial risk and uncertainty. Using knowledge of both business and economics, actuaries provide reports and devise strategies on how to lessen these risks. Most entry-level job roles in this field are within pensions and insurance, but later on you may have the opportunity to move towards areas including banking, investment and healthcare. Actuaries should be skilled in mathematics and compiling statistics, but also able to communicate complex data effectively to non-experts.

Alternative economics degree jobs and careers

With a background in economics it seems anything is possible. Other common economics careers and roles include auditor, stockbroker, insurer, business manager, retail merchandizer, pricing analyst, statistician, financial consultant and salesperson.

But what can you do with an economics degree if none of the above appeals to you? Well, you may want to also consider these broader options: business intelligence, international development, human resource management, IT, journalism, law, management, market research, politics, public relations, social research and taxation. Or, you could even become an entrepreneur and start your own business!

10 Jobs for Graduates With an Economics Degree

Career Options for Economics Majors

If you’re the analytical type, fascinated by the world around you, then an economics major might be a good choice for you. A degree in economics can help you get started in many areas, including public policy and finance.

You can use an economics degree to study industry trends, labor markets, the prospects for individual companies, and the forces that drive the economy.

Top Skills Economics Majors Have

Economics majors learn to gather, organize, and interpret data, using mathematical formulas and statistics to make calculations. They also create models to predict the impact of investments, policy decisions, industry trends, demographics, climate change, and much more.

Although economics majors must be able to analyze problems and propose solutions, success in the field also requires solid communication skills. Individuals working in economics must be able to translate their complex findings into a format that business leaders, legislators, and everyday people can understand.

While graduates with a degree in economics are masters of the chart and graph as tools for summarizing trends and results, the ability to write clear descriptions and present complicated information to others are also vital skills for the economics major.

Given the breadth of the major, there are many possible career choices for people with an economics degree. To choose the right career you will need to consider your other skills, interests, and values.

Here are some job options to consider when you’re choosing a career path with a degree in economics.

Market Research Analyst

Market research analysts tap knowledge of industry trends to assess how products or services might fare under various economic conditions. Like economics majors, they are trained to design studies and to gather and analyze data. They must be able to quantify results and present this information to clients.

These analysts apply many of the skills that economics majors develop, such as the use of presentation software and graphical representation, as well as writing and statistical skills. They must think critically about products and services and be adept at solving problems.

Salary: The Bureau of Labor Statistics (BLS) estimated that a market research analyst’s median annual salary was $63,790 in May 2019. The bottom 10% earned less than $34,350 and the top 10% earned more than $122,630.¹

Job Outlook: The BLS projected that employment of market research analysts will grow 18% from 2019 to 2029, much faster than the average for all occupations.¹

Economic Consultant

Economic consultants use analytical and research skills to carry out studies regarding economic scenarios. They analyze industry trends to help organizations improve their performance. They might work for organizations in a variety of industries, including business, finance, healthcare, education, the government, and more.

Economic consultants can also act as expert witnesses in legal cases to assess economic damages, analyze intellectual property and antitrust violations, and to address regulatory violations.

Salary: PayScale estimates that the average annual salary for an economic consultant is $76,487. The bottom 10% earn up to $59,000 and the top 10% earn at least $119,000.²

Compensation and Benefits Manager

Just like economics majors, compensation and benefits managers must be able to think in numbers, since they evaluate options for pay and benefits. They study trends in the labor market and assess supply and demand for various classes of job.

Compensation and benefits managers research pay and benefits in similar organizations within their industry to establish a competitive structure for their company’s pay and benefits.

They create reports and present their findings to senior management, and might also work with their company’s human resources department.

Salary: The BLS estimated that compensation and benefits managers earned a median annual salary of $122,270 in May 2019. The bottom 10% earned less than $69,870 and the top 10% earned more than $208,000.³

Job Outlook: The BLS projected that employment of compensation and benefits managers will grow 18% from 2019 to 2029, much faster than the average for all occupations.³

Actuary

Actuaries apply advanced mathematical and statistical skills to determine the likelihood of events like fires, deaths, illnesses, and business failures. Like economics majors, they need to consider a great number of variables when analyzing risk profiles to establish a profitable structure for insurance policies.

Actuaries often use software to help with their analyses. They devise graphs and charts to convey their decisions to members of the management team.

Salary: According to the BLS, the median annual earnings for actuaries in May 2019 was $108,350. The bottom 10% earned less than $64,860, and the top 10% earned more than $193,600.⁴

Job Outlook: The BLS predicts that jobs for actuaries will grow at the much-faster-than-average rate of 18% through 2029.⁴

Credit Analyst

Credit analysts conduct microeconomic analyses of prospective clients to assess the risks involved with loaning funds to those people or businesses. They take into account economic trends and factors impacting the region, industries, and competitors of prospective clients.

Credit analysts prepare reports summarizing their findings and suggest interest rates that are appropriate to clients’ risk profiles.

Salary: According to the BLS, credit analysts earned a median annual salary of $73,650 in May 2019. The bottom 10% earned less than $43,430 and the top 10% earned more than $145,840.⁵

Financial Analyst

Financial analysts research companies, industries, stocks, bonds, and other investment vehicles for finance departments. Their analyses often require the advanced quantitative skills possessed by many economics majors.

These analysts often use computer software and models to aid their analyses. They write reports and prepare presentations for colleagues and clients who make the final decisions about investments, stock/bond offerings, and mergers/acquisitions.

Salary: According to the BLS, the median annual financial analyst salary was $81,590 in May 2019. The bottom 10% earned less than $47,230 and the top 10% earned more than $156,150.⁶

Job Outlook: The BLS predicts that financial analyst jobs will grow by 5% through 2029, slighter fast than average for all occupations.⁶

Policy Analyst

Policy analysts research and analyze issues that impact the public and recommend legislation and government intervention to address the problems. Economic knowledge is critical to understanding many of the issues and for creating affordable solutions.

Economics majors often have the skills needed to analyze issues like healthcare, taxes, energy, the environment, and international trade policy.

Policy analysts rely on strong writing skills to present their research findings and convince legislators and the public of the viability of their recommendations.

Salary: According to PayScale, policy analysts earn an average annual salary of $59,565. The bottom 10% earned up to $43,000, while the top 10% earned $84,000 or more.⁷

Lawyer

Lawyers use critical thinking and analytical skills to prepare and try their cases. Many areas of law such as corporate law, tax law, antitrust law, personal injury, and medical malpractice involve the application of micro- and macroeconomic analysis.

Lawyers draw on research and writing skills to carry out their work. They must gather facts and evidence to support a position. Lawyers must compellingly present their findings to convince a judge, jury, or opposing attorney of their position.

Salary: According to the BLS, the median annual lawyer salary was $122,960 in May 2019. The bottom 10% earned less than $59,670 and the top 10% earned more than $208,000.⁸

Job Outlook: The BLS predicts that jobs for lawyers will grow by 4% through 2029, about as fast as average for all occupations.⁸

Management Consultant

Management consultants analyze business problems and research possible solutions to present to clients. New college graduates often start out in positions like research analyst, research assistant, or junior consultant, where they support the work of more senior staff. They can then progress to positions like management consultant.

The economics major provides an excellent background in the financial and quantitative modeling that consultants use to conduct their analyses. Writing and public speaking skills are also necessary when writing reports and presenting recommendations to clients.

Salary: According to the BLS, the median annual salary for management analysts in May 2019 was $85,260. The bottom 10% earned less than $49,700, and the top 10% earned more than $154,310.⁹

Job Outlook: The BLS predicts that jobs for management consultants will grow by 11% through 2029, faster than average for all occupations.⁹

Business Reporter

Business/economics reporters research, write and broadcast stories about business leaders, companies, industry trends, economic developments, and financial markets. In essence, they are ongoing students of economics as applied to the modern world.

The curiosity that economics majors often possess about how the economic world functions is essential for success in this field.

The ability to write about economic issues in plain language that the average viewer or reader can comprehend is also vital.

Salary: According to ZipRecruiter, the average salary for business reporters is $61,862.¹⁰