BSc Honours Business Economics Degree

Overview & facilities

The BSc Honours Business Economics degree will help you gain in-depth knowledge of economic principles that are relevant to business and finance, offering an excellent set of skills for when you graduate.

As well as covering fundamental concepts of economics you will learn to apply these to the world of business, finance, banking and government policy-making. The BSc Honours Business Economics degree prepares you for decision-making roles in the financial system and also for more general management careers and accountancy.

As we are based in London, you have access to the world's top employers in the financial sector for both work placements and graduate jobs.

We encourage you to take an optional work placement in a relevant economics role that will enhance your job prospects when you graduate. A work placement means you have a year's relevant work experience on graduation and an employer's reference that can prove an advantage in the graduate job market.

Our graduates have gone on to work for big oil companies, banks, merchant banks, Bank of England, The Treasury, The Home Office, the GLA's Economic Unit, Reuters, Xerox, Glaxo, Motorola and NHS Trusts.

• Develop an essential understanding of factors affecting the world economy and global business
• As we are based in London, you have access to the world's top employers in the financial sector for both work placements and graduate jobs
• Our teaching is designed to combine academic rigour with practical relevance
• Take an optional work placement in a relevant economics role that will enhance your job prospects when you graduate. A work placement means you have a year's relevant work experience on graduation and an employer's reference that can prove an advantage in the graduate job market

Content & modules

Modules

• Year 1

  Economic Foundations and Behaviour (30 Credits) - Compulsory

  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 at an intermediate level.

  Economic Practice and Policy 1 (30 Credits) - Compulsory

  This module aims to provide students with: an orientation to their Higher Education career and beyond by giving them the opportunity to develop their learning capability and potential in the context of lifelong and self-managed learning; an understanding of the UK economy and the EU; an understanding of the evolution of the financial system, its current nature and structure; basic finance skills including pricing; knowledge of emerging and current issues of the financial system; preparation of students for further study in the areas of economics, banking and finance.

  Macroeconomics and Political Economy (30 Credits) - Compulsory

  This module aims to provide an appreciation of basic macroeconomic analysis as a basis for understanding the operation of a country s economy, an awareness of the policy options facing the government as well as the macroeconomic effects of economic policy, and a good background to prepare the student for further macroeconomic study at an intermediate level. The module embeds a political economy dimension by bringing to the lectures and seminars real and practical issues facing people and governments around the world. This approach is intended to motivate the discussions and help the students develop a critical understanding and capacity to challenge conventional views on how an economy works, as well as standard prescriptions for tackling economic problems.

  Quantitative Methods for Financial Business (30 Credits) - Compulsory

  This module gives students a thorough grounding in quantitative methods used for accounting and economics, and in the use of computer packages to analyse business data. It is designed for students with a good mathematical background, and covers both the completion of mathematical calculations by hand and using a computer, and the interpretation and communication of quantitative results.

• Year 2

  Economic Practice and Policy 2 (30 Credits) - Compulsory

  This module aims to develop students knowledge of current economic policy issues at a national, regional, and global level with an insight into the practice of formulating and implementing economic policy, building on Economic Practice and Policy I; and build on introductory statistical analysis, allow students to use data analysis to test economic principles and theories relevant to the economic problems of the day.

  Intermediate Microeconomics (30 Credits) - Compulsory

  This module aims to extend students knowledge in Microeconomics acquired in the first year of study and builds on students quantitative skills in developing a formalised analytical approach to economic problems. Specifically, the module aims at equipping the students with understanding of microeconomic theories that can be used to explain and predict the behaviour of consumers and firms. The module also aims to explore the nature of the firms and their markets; explain and evaluate theories of consumer and investor behaviour; analyse and compare firm production and pricing policies given profit maximisation as a business objective. The module will also introduce students to special topics in intermediate microeconomics such as asymmetric information and externalities.

  Macroeconomic Environment and Policy (30 Credits) - Compulsory

  This module aims to provide students with an understanding of the macroeconomic environment through a study of the models and techniques of macroeconomics at an intermediate level and an appreciation of current controversies with respect to the formulation, implementation and impact of macroeconomic policies.

  Trade and International Business (30 Credits) - Compulsory

  The aim of this module is to provide an understanding of the issues relating to international trade and business in an increasingly interdependent world. The specific aims are to develop a theoretical understanding of the causes of world trade as well as some practical appreciation of the business of trade and the role of MNEs in it. We shall consider the gains and benefits of free trade and the trade liberalisation process as well as an understanding of the world trading system and multilateral trade negotiations.

• Year 3

  Business Economics (30 Credits) - Compulsory

  This module aims to develop students knowledge of business economics, building on Level 2 Economics of the Firm. The module aims to explore the relevant microeconomic and macroeconomic reasoning to evaluate the structure, conduct and performance of business organisations for profit; assess major influences shaping the behaviour of business organizations and possible constraints on business decision making; and apply neo-classical, managerial and behavioural economic theories to the decision making process of firms in a domestic and international context.

  Business Start up (30 Credits) - Optional

  This is a synoptic of module which aims to ensure that students can demonstrate how to develop a business plan and put it into operation. This will be achieved by students showing an understanding of the appropriate academic theories and an application of the necessary analytical tools to achieve a successful business start up. In particular, the module aims to facilitate the development of a unique business plan in which students will learn, practice and apply the necessary academic and practical knowledge base and skills set, including team working, required for the establishment of a new business. This preparation follows through to provide students with the opportunity to study the establishment of small business in a practical context, giving students an insight into the nuts and bolts of setting up and running their own small business. Especially important is the reconciliation of theory to practical realities including interaction with the appropriate government agencies, professional and commercial bodies. Finally, students are encouraged to reflect on whether they are suited to setting up their own small business or continuing their college business on a commercial basis.

  Economics of Industry (30 Credits) - Optional

  This module aims to build student s knowledge of the complex links between market structure, business behaviour, competition policy and the economic performance of industries. It covers the main strands of modern industrial organisation analysis with an aim to equip students with a range of analytic tools for the explanation, prediction and evaluation of business conduct in imperfectly competitive environments.

  Financial Economics (30 Credits) - Optional

  This module aims to provide students with an understanding of key economic/financial concepts, theories and techniques; and the ability to apply these to financial issues, using both actual and simulated cases. The module provides a basis for further study in the field of finance, as well as basic skills useful in the financial and business world.

  International Finance (30 Credits) - Optional

  This module aims to provide students with knowledge of the international monetary system and skills of managing financial assets in a global environment. The first half of the module introduces theories of exchange rate, balance of payments and macroeconomic policies in an open economy. The second half of the module talks about the application of financial instruments and techniques in managing the financial assets and risks. Students have the opportunity to study the operations of the world capital markets and participate in the discussions of various contemporary international financial issues and policies.

  Labour Economics (30 Credits) - Optional

  The aims of this module is to provide a comprehension of labour economics as a basis for understanding the management of human resources to teach students how economists analyse the problem of unemployment; and to provide an understanding of the impact of economic policy upon labour markets.

  Leadership and Management (30 Credits) - Optional

  This module aims to provide grounding in the core competencies related to management and leadership in the organisation enabling students to apply theory to practice in management. Alongside this, it will provide opportunities to develop personal skills through workshops in leadership and team building.

  Public and Regulatory Economics (30 Credits) - Compulsory

  This module aims to build students knowledge of policy decisions. Most critically that they are able to understand the process by which government makes its choices, as well as the factors influencing the scope and effectiveness of those choices

Entry & applying

We normally make offers between 200-280 UCAS tariff points, plus GCSE Maths and English Language at grade C. BTEC National Diploma/International Baccalaureate/Advanced Progression Diplomas at equivalent tariff. Access to HE - Pass. Applications from candidates without formal qualifications are welcomed. Additionally overseas students whose first language is not English will need a qualification that demonstrates competence in English, eg IELTS 6.0 or TOEFL 550 paper-based or 213 computer based.

International entry requirements

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.

English language 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) or TOEFL internet based 72 (with at least 17 in listening & writing, 20 in speaking and 18 in reading).

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 english@mdx.ac.uk.

Entry into year two or three (transfer students)

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.

UK/EU applicants with existing higher education qualifications

If you have already been awarded a qualification at the same level as the course you are applying for, you may not be eligible for a tuition fee loan, see fees and funding for more information.

How to Apply

UK/EU students

Apply now

Applications for UK and EU students should be made to UCAS – the Universities and Colleges Admissions Service. The institution code for Middlesex is M80, and the code name is MIDDX. You also need the code for the course you wish to apply for – this is found in the 'at a glance' box above.

International students

International students from outside the EU can make a direct application.  We have a network of regional offices across the world to assist you with your application.  They have experience with helping students from your country and supporting them with their applications to study at Middlesex. Read more on international applications. 

Fees & funding

The tuition fee for the 2012/2013 academic year for UK/EU students is £9,000.
The tuition fee for the 2012/2013 academic year for International students is £10,400.

Click here to find out more about fees, funding and our scholarships in 2012.

Careers & placements

Our economics graduates have been highly successful in obtaining well-paid employment and have obtained positions in the financial, commercial and public sectors working in banking, insurance, investment, oil and pharmaceutical companies and government departments such as the Home Office.

Our careers service offers you a range of support both while you're studying with us - and after you've graduated.

Placements

Work placements are proven to increase your success in the job market as well as being a fantastic experience. Economics is a highly competitive field so we encourage as many students as possible to grasp this opportunity.

We have a dedicated Placement Service which helps you find and plan for a placement.

Graduate Employment prospects

Latest survey figures show that six months after graduating:

• 75% of Middlesex graduates were in employment or further study 
• 25% were assumed to be unemployed or doing something else, such as travelling  

(Based on data from Economics respondents of the 2009-10 Destination of Leavers in Higher Education Survey)

The average salary for graduates included in the survey was £24,000 for those in full-time employment.

Examples of the types of jobs that graduates from the class of 2009-10 are doing include:

Data Analyst, Tax Analyst, Project Manager, Teacher

at the following companies:

Mediacom, Statoil, TLL, SSC Project Management

Graduate Roles
Below are just a few career opportunities that would be open to you as a graduate:

Business Economists: As a  business economist you will identify areas that can be profitable to an organisation, develop them further and identify problem areas and transforming them into opportunities and challenges that can benefit the company. You will usually work within industries such as transportation, mining, manufacturing, investment, communications, banking, insurance, retailing, and other types of organisations.

Actuary:  Actuaries are experts in evaluating the likelihood of future events, designing creative ways to reduce the likelihood of undesirable events and decreasing the impact of undesirable events that do occur. They solve problems in the business world by analysing and managing risk. 

Financial Analyst: As a financial analyst you will write reports on the companies you cover trying to describe the businesses and your opinions of the company's investment potential. Reports are normally summarised with a rating, such as "buy", "sell", "market perform", "overweight", "hold", etc.

Trade and Financial Officer: As a Trade and Finance Officer you will be involved in the business development of trade finance between an organisation and their clients. You will normally maintain client and internal business relationships and ensuring client and business needs are fulfilled in an effective and timely manner. A comprehensive knowledge of Risk and Credit skills are highly desirable with this area.