Economic principles play an important role in the daily choices that we make and impacts on aspects of society from banking and financial services to public policy, education and healthcare. We provide our students with the necessary tools to address economic problems in the real world, ensuring graduates are able to confidently navigate their future career path.
Why study BSc Economics at Middlesex?
The study of Economics is concerned with a wide range of issues such as the production, consumption and pricing of goods and services, the study of incentives, the effect of social interactions on economics outcome, monetary and fiscal policies, and decision-making. Through stimulating theory, quantitative methods and debate students explore the key factors that influence economic forces and learn to apply knowledge to real world problems.
The BSc Economics challenges students to grow and perform at a high level, helping them to acquire the technical knowledge, analytical skills and critical thinking that are in demand across many industry sectors and fields. Our degree can lead to a wide range of careers and roles across the finance, economics and policy sectors, including business analyst, economic consultant, investment analyst, researcher, policy analyst, among others.
Highly active in areas at the forefront of economics, from applied microeconomics and networks to banking, trade and applied industrial organisations, our academics use their research to inform both the knowledge they deliver and the innovative teaching methods they use. For example students are taught by some of the world's leading experts in the cutting-edge field of behavioural economics, with our Behavioural Economics Group ranked in the top 10 in the UK overall in Experimental Economics (RePEC, 2014).
All students will follow the same course in the first and second years, developing your understanding of economics and specific aspects of the discipline. In your third year you can choose modules that develop specific 'pathways' in Quantitative Economics, Business, Finance, Behavioural & Experimental Economics, Development, Industrial economics or Banking. Alternatively you can select any of the optional modules and follow a solely Economics pathway.
BSc Economics pathway
Optional: Advanced Microeconomics, Advanced Macroeconomics, Advanced Econometrics, Social Network and Labour Economics, Development Economics, Financial Risk Management in Banking, Monetary Policy, International Finance, Industrial Organisation, Trade: Theory & Policy
BSc Economics (Quantitative) pathway
Compulsory: Research in topics in Economics
Optional: Advanced Microeconomics, Advanced Macroeconomics, Advanced Econometrics, Experimental Economics
BSc Economics (Business) pathway
Compulsory: Industrial Organisation, Social Network and Labour Economics,
Optional: Development Economics, Financial Risk Management in Banking, Monetary Policy, International Finance, Trade: Theory and Policy
BSc Economics (Finance) pathway
Compulsory: Advanced Econometrics, International Finance, Finance, Investment Analysis
BSc Economics (Behavioural & Experimental) Pathway
Compulsory: Advanced Econometrics, Behavioural Economics, Experimental Economics and Social Network & Labour Economics
BSc Economics (Development) Pathway
Compulsory: Advanced Econometrics, Behavioural Economics, Development Economics and Trade: Theory & Policy
BSc Economics (Industrial) Pathway
Compulsory: Social Network & Labour Economics, Industrial Organisation and Trade: Theory & Policy
Optional: Advanced Microeconomics, Advanced Econometrics,
BSc Economics (Banking) Pathway
Compulsory: Financial Risk Management in Banking, Monetary Policy and Banking Theory & PracticOptional: Advanced Microeconomics, Advanced Macroeconomics, Advanced Econometrics
This module aims to provide students with an appreciation of basic microeconomic analysis as a basis for understanding the operation of a market economy, an awareness of the microeconomic effects of economic policy, and a good background in microeconomics to prepare the student for further microeconomic study.
This module aims to provide an appreciation of basic macroeconomic analysis as a basis for understanding the operation of a market economy, an awareness of the policy options and dilemmas facing the government as well as the macroeconomic effects of economic policy, and a good background in macroeconomics to prepare the student for further macroeconomic study.
This module aims to introduce students to the analysis and interpretation of quantitative data. Topics include summary statistics, probability, random variables and probability distributions, statistical inference, point estimation and confidence intervals.
This module aims to introduce the basic mathematical concepts used in economic analysis. These include the basic properties of functions, univariate and multivariate calculus and matrix operations. The course serves as a basis for second year economics courses.
This module aims to develop students' knowledge of microeconomics theories that can be used to explain and predict consumers' and firms' behaviour. The aims of this module are to provide analytical tools for students to evaluate theories of consumer and investor behaviour; to analyse and compare firms' production and pricing policies under different firms' objectives. In addition, this module will also introduce students to individual behaviour with respect to choices with uncertainty and basic concepts of public economics.
This module aims to provide students with an understanding of the macroeconomic environment through a study of the models and techniques of macroeconomics and an appreciation of current controversies with respect to the formulation, implementation and impact of macroeconomic policies.
This module aims to expose students to basic econometrics theory and provide students with a deep knowledge of the techniques involved in modern applied econometrics. The module is problem and data driven, giving students the skills to estimate and interpret econometric models, while having a strong grasp of the underlying theoretical concepts. The module will introduce the students to a range of econometric techniques, which will enable them to undertake applied econometric work successfully via hands-on training using econometrics computer software including R, Stata and Gretl.
This module aims to introduce the fundamental mathematical concepts used in economic analysis. These include calculus, unconstrained and constrained optimization for univariate and multivariate functions, integral calculus, differential equations and dynamic optimization. The course serves as a basis for advanced economics and finance courses.
This module aims to provide students with the essential tools to present advanced economic problems. In the first part of the module, we will explore the role of the information in Economics. We will analyse the effect of asymmetric information and uncertainty in different economic situations such as contracts, prices, etc. Also, we will study the phenomena of adverse selection and moral hazard. The second part of the module will be devoted to a review of the basic concepts of Game Theory, as well as an introduction to coalitions and bargaining theory. The course will combine analytical rigor with intuitive and applicable references to the real world.
This module aims to introduce students to advanced topics in macroeconomics through analysing macroeconomic concepts in a rigorous and technical manner and enriching students' competencies in quantitative techniques. Focus will also be given on policy issues and implications derived from the latest developments in macroeconomics.
The aim of this module is to provide students with a set of tools to understand and analyse economic data and expose them to econometric strategies frequently used in applied microeconomics and applied macroeconomics research. Topics covered in the model include ARIMA processes; testing and model selection; vector autoregressive models; granger Causality; discrete choice model; Tobit and selection model and endogeneity problems in panel data models. Students should be able to recognise data problems, specify and estimate econometrics models for policy analysis and be able to undertake empirical research individually and independently.
This module is for students interested in conducting original research on economics questions. The module aims to provide students with the set of tools and skills needed to critically evaluate research in economics. Students have to attend the weekly seminars in economics and write a brief research report, summarising the main ideas of the paper and evaluating strong points and the main limitations of the research paper presented in the seminar.
The module aims to provide students with a set of tools to analyse the effects of social networks on employment, inequality, productivity and labour mobility and migration. Students will become familiar with theories, methods and techniques used by labour economists and will have the opportunity to apply them to topics of interest. For example, students will learn techniques developed for social network analysis to identify the human resources strategies that would maximize productivity in the workplace. The first part of the course is designed to provide a broad overview of social network techniques and their applications to the labour market. The second part of the course will focus on human capital investment, employment, productivity, discrimination in the labour market and labour mobility and migration.
This module aims at developing students' knowledge in microeconomic theories that can be used to explain and predict problems in economic development faced by developing countries. The aims of this module are to provide analytical tools to develop students' critical thinking on economic aspects of the development process in low and middle-income countries. Students will learn to analyse a range of problems in economic development and to identify advantages and disadvantages of public policies aiming at solving or reducing these problems.
This module provides a comprehensive exposure to the insights and methods of behavioural and experimental economics. The module consists of two parts. The first one is aimed to provide a formal framework for the analysis of strategic interactions, and as such is designed to introduce the main solution concepts in Games of Strategy. The second part of the module is intended to assess the predicted power of the different solution concepts when it comes to actual human behaviour and real experimental data. Recent findings from behavioural and experimental design are discussed and departures from equilibrium predictions are rationalized using alternative solution concepts. Applications and everyday examples are provided of problems facing individuals, groups and organisations when making economic decisions in a complex world.
This module aims to develop students' knowledge of firm strategic behaviour in markets. The course builds on Level 2 Intermediate Microeconomics. The aims of this module are to provide analytical tools for students whereby they can understand concepts such as market concentration, monopoly power, price discrimination and firm strategic interaction in markets. Students will learn how location is an important determinant for firm markets power and provides a strategic advantage to a firm. They will learn to evaluate key issues about market structure and their implications for different strategies as well as to apply economic theory to the decision making process of firms.
This module provides balanced coverage of the key concepts of international trade theory and its policy applications in the world economy. The aims of this module are to develop students' knowledge and analytical tools to explain patterns of trade and specialisation using the classical models such as Ricardo and Heckscher-Olin and the more recent models of monopolistic competition. Students will learn to identify welfare gains from trade and the effects of international trade on income distribution. The module also provides the basis to evaluate key issues in trade policies, the WTO, and trade agreements.
This module consists of three parts. The first part will provide students with an advanced understanding of the principles of experimental design in experimental economics. In the second part the students will learn special issues concerning current topics in experimental economics. In the third and final part will introduce students to field experiments and Randomized Control Trials (RCTs).
This module aims to build student knowledge of banking. It approaches banking from an economic perspective (but with some basic accounting included) with an aim to: explore the complexity and integrated nature of financial systems with emphasis on the UK and the USA; identify and assess different systems of allocating funds for economic development; develop students' ability to apply introductory risk management tools and techniques in banking, and investigate emerging issues and contemporary trends in banking theory and practice.
This module aims to allow students to develop an understanding of the process of financial risk management in banking, including financial markets and instruments, derivatives, various bank risks and their management, financial crisis and securitization, regulations, and the effect of accounting standards. This module provides students the opportunity to develop risk modelling skills, analytical and numerical skills in banking risk management practice.
The module aims to provide students with; - an understanding of "money", monetary standards and the monetary sector; - an understanding of the evolution of monetary and banking (economic) theory and the seminal controversies since Hume and Bagehot; - the ability to apply monetary theory to public policy in a domestic and international context; and - investigate emerging and current issues of monetary policy and banking; - analyse public policy and safety of the financial system; - develop specialist knowledge suitable for further development via postgraduate study or professional employment.
This module aims to provide students with knowledge of theories of exchange rate and balance of payments, and skills of managing international financial assets and exchange rate risks in a global environment. Students have the opportunity to study the operations of the world capital markets, grasp the principles essential to understanding of global financial issues and policies, and apply tools to effectively evaluate and manage foreign exchange risks in order to succeed in international financial environment.
This module aims to provide students with a solid understanding of contemporary corporate finance both theoretically and practically. The module will explain all the main aspects of financial management, including capital budgeting and investment decision-making, capital structure and finance decision-making, and working capital management. It will enable a critical appreciation of the link between accounting and finance, and the interaction between financial decision-making and capital market behaviour. Students will also develop and refine their transferable skills, including communication, presentational skills, critical analysis, time management and team-working skills.
The module aims to develop students' knowledge of modern investment theory and practice. A detailed study of classic portfolio theory provides the basis for an appreciation of, and further investigation into, themes that are currently at the forefront of reflection and research in investment theory, including sceptical views of the classic paradigm whose status has been boosted by the international banking crisis that began in 2008. In tandem with a critical approach to theory, the module offers insights into the quantitative methods (and supporting technology) that are used to inform the construction and management of investment portfolios. Furthermore the module analyses institutional, product and technological innovation in the sphere of investment management, particularly in relation to a heightened concern with risk control, market liquidity and disclosure of information.
You will attend lectures, seminars, workshops and laboratory sessions, as well as making use of online learning resources and reading textbooks and articles in your own time. You will take part in class discussions, give presentations, complete written assignments and examine case studies.
You can opt to extend the course by a year, and spend the third year doing a work placement, which we will help you to find. You will produce an assessed report on the organisation you have been working with. Alternatively, you can opt to do two shorter placements in the summers after years 1 and 2.
You will be assessed through exams, tests, reports and other written coursework and presentations, as well as your performance in seminars and workshops. You will receive informal feedback from your tutor in seminars and after class tests.
Typical offers for this course:
A Levels minimum two, maximum three subjects
Edexcel BTEC Level 3 Extended Diploma minimum two, maximum three subjects
Access to HE Diploma
Pass with 45 credits at Level 3 , of which all 45 must be Merit or higher
If you are unable to meet the entry requirements for this course you may still be eligible for our Foundation year course. This is an extra year of study to prepare you for the full degree. For more information see our Business Foundation page.
Our entry requirements are displayed as grades. Please use the UCAS calculator to find out the equivalent tariff points.
We accept the equivalent of the above from a recognised overseas qualification, to find out more about the requirements from your country, see further information under support in your country. For details of other equivalent requirements that Middlesex accepts see entry requirements.
You must have competence in English language and we normally require Grade C GCSE or an equivalent qualification. The most common English Language requirements for international students are IELTS 6.0 (with minimum 5.5 in all four components).
Middlesex also offers an Intensive Academic English course (Pre-Sessional) that ranges from 5-17 weeks depending on your level of English. Successful completion of this course would meet English language entry requirements. For more information on applying for the pre-sessional please email email@example.com.
If you have achieved a qualification such as a foundation degree or HND, or have gained credit at another university, you may be able to enter a Middlesex course in year two or three. For full details of how this works see transfer students.
An Economics degree builds both subject specific and transferable skills, making it an ideal study choice for launching a career across both the public and private sectors: from banking and finance, to economics consultancy.
Students from our School of Law have progressed to work for leading companies, including: John Lewis, Nokia, O2, World Trade Group, Cyprus Government, IBM, Halifax, Natwest, Canadian High Commission, Arwens and Fratelli.
You could become an economist, accountant, analyst, or statistician and work across government departments and think tanks, banks (both high street and city), insurance and accountancy firms, private consultancies, and charitable and not-for-profit organisations.
We encourage our students to either undertake a paid work placement during their studies as a year long assignment between year two and three, or to undertake an internship; either full-time over the summer following your second year of study, or part-time throughout the course of your final year.
The paid, year-long work placement exempts you from paying tuition fees for the full academic year; ensuring you gain the necessary practical skills to embark on your chosen career.
Work experience in the form of placements and internships greatly improve graduate employment prospects, and students who take part achieve excellent academic results through applying their learning in a professional setting.
Our specialist Employability Service and London location ensure that every year our students and graduates gain prestigious placement opportunities.
Our Employability Service can help you to develop your employability skills and gain valuable work experience. We provide workshops, events and one-to-one support with job hunting, CVs, covering letters, interviews and networking. We also support you in securing part-time work, placements, internships, and volunteering opportunities, and offer an enterprise support service for those looking to start their own business. Find out more here.