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“Economics provides me with a set of invaluable tools applicable to historic events and current affairs.”
Photo by Chris Young s Christian (Salem, Germany)
and which other subjects you wish to do. The programmes you follow for MA and BSc are exactly the same within the Economics element of your degree. In the first two years all students follow the same core programme in economic principles. There are no special admission requirements for entry to the First-level modules.
First-level modules provide the required general knowledge of Economics. Study of the subject in the second year and especially at Honours level equips you with a fuller understanding of economic relationships and with a variety of techniques necessary for their analysis. In addition to core modules, at Honours level you select modules from a range of options on specific topics. These provide an analytical understanding of key aspects of business management and government policy formation.
Summary of Course Content – MA & BSc
First Level (1st year) Microeconomics is the study of how households and firms make decisions about consumption and production and how they interact in markets. Macroeconomics is the study of phenomena which affect the national economy, such as unemployment, growth and inflation.
In the first year you are introduced to the principles of microeconomics and macroeconomics and learn how to apply these to contemporary issues. The modules provide a basic insight into the use of quantitative methods and an understanding of the economic system in general, including the UK economy.
Second Level (usually 2nd year) More advanced study of consumers, firms and markets (microeconomics) and of models and schools of thought in modern macroeconomics is undertaken. Quantitative methods modules provide you with training in the mathematical and statistical techniques needed for economic analysis and how to structure and make sense of economic, financial and social data.
Honours (3rd and 4th years) Modules are divided into core modules, including:
• Advanced Microeconomics • Advanced Macroeconomics • Econometrics: The Classical Linear Regression Model
and also optional modules, for example:
• Corporate Finance • Environmental Economics • Economics of Innovation •
If you wish to specialise in Finance you can take an additional core module in Financial Economic Theory and concentrate your options in the area of finance, in order to graduate with a degree in Financial Economics. If you wish to obtain a broader, but less deep, knowledge of economic theory you can choose to take a larger proportion of optional modules and graduate with a degree in Applied Economics. You also have the opportunity to undertake independent study and research in a dissertation or project. Further details of the degree structure and a list of Honours modules are available from the School website.
Teaching First and second year modules generally involve a series of lectures, laboratories and tutorials, the latter in smaller groups to facilitate effective interaction. Progress is monitored through tutorial assignments and assessment is by a combination of graded work and exams. All modules are self-contained units of teaching and assessment.
Single Honours students typically attend seven to eight lectures and one to two tutorials or labs each week. Joint Honours students typically attend three to four lectures a week and also have tutorials in most weeks.
MSci in Applied Quantitative Finance The MSci in Applied Quantitative Finance is a degree provided jointly by the School of Economics & Finance and the School of Mathematics. It is fairly unique in combining a rigorous training in Mathematics alongside an understanding of financial markets and the wider economic context in which such markets operate. Students normally enter this programme at the Second year level and undertake four years of study, taking approximately half of their classes in Mathematics modules and half in Economics modules. During their final two years of study students will take modules in Mathematics and in Financial Economics at the 5000 (MSc) level.
Careers Popular career choices amongst recent graduates include: investment, commercial and international banking, accountancy, consultancy, management in the industrial and commercial sectors, government organisations such as the Bank of England and the World Bank, the Civil Service, university research and teaching, and the media. You will find St Andrews Economics graduates at renowned financial institutions such as Accenture, Ernst & Young, JP Morgan, Barclays Capital, PriceWaterhouseCoopers, HSBC and Lloyds TSB, to name but a few. Further information:
www.st-andrews.ac.uk/careers/wiki/ School_of_Economics_and_Finance
International Trade and Globalisation
• Capital Investment Analysis • Issues in Economic Policy • The Economics of Social Life • Law and Economics
Please see page 42 for details of the University’s Careers Centre.
Economics & Finance
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