Mathematics and Economics BSc

   
   
  

Fact file - 2017 entry

UCAS code:GL11
Qualification:BSc Jt Hons
Type and duration:3 year UG
Qualification name:Mathematics and Economics
UCAS code
UCAS code
GL11
Qualification
Mathematics and Economics | BSc Jt Hons
Duration
3 years full-time
A level offer
A*AA/AAA
Required subjects
Three A levels, or equivalent, including mathematics at grade A. Applicants may be asked for one of: A*in A level mathematics, A in A level further mathematics or A in AS level further mathematics. STEP is not required but may be taken into consideration when offered. A levels in citizenship studies, critical thinking and general studies are not accepted.
IB score
36 (including 6 in maths at Higher Level) 
Course location
University Park Campus 
Course places
250 for all mathematics courses
School/department
 

This course may still be open to international applicants for 2016 entry. Please visit our international pages for details of courses and application procedures from now until the end of August.

Overview

The course offers a grounding in relevant mathematical concepts and techniques, combined with substantial degree-level studies in economics.
Read full overview

This course is aimed at mathematically minded people thinking of entering the business or financial sector upon graduating; for example as management consultants, actuaries, accountants or business analysts. The course offers a grounding in relevant mathematical concepts and techniques, combined with substantial degree-level studies in economics. No previous knowledge of economics or management/business studies is assumed.

International Student Satisfaction Awards

Second place ranking

Nottingham enters the league table at number two in the International Student Satisfaction Awards 2014 and is one of only five UK universities to receive a rating of ‘outstanding’. The rankings are compiled by StudyPortals, an independent study choice platform covering more than 1400 universities in 40 European countries.

Royal Statistical Society (RSS)

Specific pathways within this course are accredited by the Royal Statistical Society (RSS) as being of the appropriate breadth and depth to provide a foundation for a career as a professional statistician. Successful completion of these pathways (achieving a second class honours or better) automatically qualifies you for the RSS Graduate Statistician (GradStat) award. This award is a stepping stone to full professional membership of the RSS and the Chartered Statistician (CStat) award. More details can be found on the Royal Statistical Society website.

Institute and Faculty of Actuaries

The School has an agreement with the Institute and Faculty of Actuaries under which students who obtain an average of more than 60% in any of the following combinations of modules will gain exemption from subject CT3 Probability and Mathematical Statistics. This applies to all of the undergraduate courses offered by the School of Mathematical Sciences, including Natural Sciences.

G11PRB Probability
G11STA Statistics
G12PMM Probability Models and Methods

or

G11PRB Probability
G12SMM Statistical Models and Methods
G12PMM Probability Models and Methods

Year one 

Two-thirds of the first year is devoted to mathematics. You will study core mathematics with modules in analytical and computational foundations, calculus and linear mathematics, as well as modules in probability and statistics. 

The remaining third of the first year is comprised of two modules from the School of Economics in both micro- and macroeconomics.

Year two 

Your time in the second year is equally split between mathematics and economics. In both disciplines there is a wide range of modules to choose from.

Year three

As for year two, your time is equally divided between both disciplines with a wide range of optional modules in mathematics and economics.

More information 

See also the School of Economics.

 

Entry requirements

A levels: A*AA-AAA, including mathematics at grade A. Applicants may be asked for one of: A*in A level mathematics, A in A level further mathematics or A in AS level further mathematics. STEP is not required but may be taken into consideration when offered.

A levels in general studies, critical thinking and citizenship studies are not accepted.

IB: 36 overall, including 6 in mathematics at higher level. 

English language requirements 

IELTS 6.5 (no less than 6.0 in any element)

Students who require extra support to meet the English language requirements for their academic course can attend a presessional course at the Centre for English Language Education (CELE) to prepare for their future studies. Students who pass at the required level can progress directly to their academic programme without needing to retake IELTS. Please visit the CELE webpages for more information.

Alternative qualifications 

For details see our alternative qualifications page

Flexible admissions policy

We may make some applicants an offer lower than advertised, depending on their personal and educational circumstances.

 
 

Modules

Typical Year One Modules 

Analytical and Computational Foundations
This module will introduce you to three core concepts and techniques that underpin all maths modules in your degree. These are mathematical reasoning (the language of maths and providing concrete proof of mathematical theorems), an introduction to the computer package MATLAB (its use and application), and basic analysis methods. You will have two hours of lectures per week combined with computer workshops, problem classes and tutorial support.
 
Calculus
In this module, you will begin by practising the basic concepts and methods of calculus including limits, functions, continuity, Taylor series, and Laplace transforms. In the second semester you will move onto more advanced usage of calculus. Topics will be based around the calculus of functions of several variables and include partial derivatives, chain rules, the vector operator grad, Lagrange multipliers and multiple integrals. This module is taught in two hours of lectures per week combined with problem classes and tutorial support.
 
Linear Mathematics
This module introduces you to the methods and practices of linear mathematics that you will need in subsequent modules on your course, such as complex numbers, vector algebra and matrix algebra. You will then expand your knowledge to include vector spaces, linear transformations and inner product spaces through two hours of lectures per week combined with problem classes and tutorial support.
 
Probability
This module provides an introduction to probability by developing a framework for the logic of uncertainty. Random variables and the topics surrounding them will also be introduced. You will spend two hours in lectures per week. 
 
Statistics
This module offers you the chance to learn about a range of statistical ideas and skills. In addition, concepts and techniques for modelling and practical data analysis skills will be taught. You will learn to write reports based on these topics which will help you in further studies. You will have a combination of lectures, problem classes and workshops totalling around four hours per week.
 
Introduction to Microeconomics
You will be introduced to microeconomics, including behaviour of firms and households in situations of competitive and imperfectly competitive markets. You will spend around three hours in lectures and have a one hour tutorial each week.
 
Introduction to Macroeconomics
You will be introduced to modern macroeconomic analysis including issues such as growth and employment, wage and price dynamics and consumption and saving behaviour. You will learn about the two main modern schools of macroeconomic thought: 'New Classical' and 'Keynesian'. You will have four hours of lectures and seminars each week.
 
 

Typical Year Two Modules

Introduction to Numerical Methods
In this year-long module you will be introduced to basic techniques in numerical methods and numerical analysis. You will build upon your core year one modules to generate approximate solutions to problems that may not be easy to analyse on paper. There will be a wide range of topics including: iterative methods for nonlinear equations, discussion of errors (including rounding errors), polynomial interpolation and orthogonal polynomials. You will spend two hours per week in lectures and one hour per week in computer labs.
 
Probability Models and Methods
This module will give you an introduction to the theory of probability and random variables, with particular attention paid to continuous random variables. Fundamental concepts relating to probability will be discussed in detail, including well-known limit theorems and the multivariate normal distribution. You will then progress onto complex topics such as transition matrices, one-dimensional random walks and absorption probabilities. For this module you will spend three hours per week in lectures and workshops.
 
Statistical Models and Methods
The first part of this module provides an introduction to statistical concepts and methods and the second introduces a wide range of techniques used in a variety of quantitative subjects. The key concepts of inference including estimation and hypothesis testing will be described as well as practical data analysis and assessment of model adequacy. You will have a combination of lectures, example and problem classes each week. 
 
Microeconomic Theory
You will study intermediate microeconomics including general equilibrium analysis, welfare economics, elementary game theory, and strategic behaviour of firms. You will have a combination of lectures and modules totalling around three hours each week. 
 
Monetary Economics
This module will provide you with a foundation for the monetary economics modules in year three, which compliments financial economics in years two and three. It will cover topics such as the definitions and role of money, portfolio choice, financial markets and banks, central banks and monetary policy, and the monetary transmission mechanism. Under these headings you will address issues of theory, policy and practice relating to recent experience in the UK and other countries. You will spend around three hours per week in lectures and tutorials.
 
 

Typical Year Three Modules

Coding and Cryptography
In this module you will be introduced to two main topics of coding theory; error-correction codes and cryptography. Within these topics you will learn the main concepts, theorems and techniques and practise applying these with specific example. You will have two hours of lectures each week.
 
Game Theory
In this module you will explore the connection between numbers and games and how games can be analysed. You will learn about the algorithms of gaming, stemming from many areas of mathematics and computing. You will be able to use the mathematical knowledge you have gained so far on the course to analyse various situations in a logical manner, practising strategic decision-making. You will spend two hours per week in lectures.
 
Mathematical Finance
In this module the concepts of discrete time Markov chains are explored and used to provide an introduction to probabilistic and stochastic modelling for investment strategies, and for the pricing of financial derivatives in risky markets. You will gain well-rounded knowledge of contemporary issues which are of importance in research and applications.  For this module there will be a combination of lectures, example and problem classes for around four hours each week.
 
Statistical Inference
In this module you will explore two main concepts of statistical inference; classical (frequentist) and Bayesian. Topics include: sufficiency, estimating equations, likelihood ratio tests and best-unbiased estimators. You will gain knowledge of the theory and concepts underpinning contemporary research in statistical inference and methodology. For this module there will be a combination of lectures, example and problem classes for around four hours each week.
 
Stochastic Models
In this module you will develop your knowledge of discrete-time Markov chains by applying them to a range of stochastic models for use in natural sciences and scientific industries. You will be introduced to Poisson and birth-and-death processes and then you will move onto more extensive studies of epidemic models and queuing models with introductions to component and system reliability. For this module there will be a combination of lectures, example and problem classes for around three hours each week.
 
Topics in Statistics
In this module you will build on your knowledge from previous modules by covering three main topics relating to statistics, sequential analysis, multivariate analysis and designed experiments. The skills you build will be of relevance to a professional statistician. You will have four hour lectures each week.
 
Advanced Financial Economics
You will examine issues related to the impact of financial frictions on the financial system and the economy. Topics studied include: the effects of financial constraints on the ability of firms to raise funds from different sources, the impact of financial constraints on consumer credit, and the role of financial intermediaries. You will spend around three hours each week in lectures and tutorials. 
 
Advanced International Trade Theory
You will study topics such as the models of intra-industry trade, trade policy in oligopolistic industries, mathematical enterprises and testing trade theories. You will spend around three hours per week in lectures and tutorials.
 
Advanced Public Economics
In this module you will be introduced to some major themes of public economics, using microeconomic tools to analyse public policy. The equity and efficiency implications of policies will be examined within an economic framework through. You will spend around three hours each week in lectures and tutorials.
 
Health Economics
You will be introduced to health and health economics, health care as a commodity (Grossman model, market complications such as rationality, externalities, uncertainty), implications of health and health care demand (prices, insurance, supply-induced demand, consumer protection), health behaviour (illness prevention, such as tobacco smoking, vaccination, cancer screening), economic aspects of the UK National Health Service (excess demand, efficiency, equity), health care supply (factor substitution, economies of scale, technology diffusion) and international aspects of health care. You will spend around three hours each week in lectures and tutorials.
 
Numerical Methods in Economics
You will focus on static numerical methods, dynamic numerical optimization and agent-based economic modelling. Example topics include: numerical solution methods, dynamic numerical optimization, discrete dynamic programming and the foundations of agent-based modelling. You will spend around three hours each week in lectures and tutorials as well as spending an hour each week in computer classes.
 
 

The modules we offer are inspired by the research interests of our staff and as a result may change for reasons of, for example, research developments or legislation changes. The above list is a sample of typical modules we offer, not a definitive list.

 
 

Careers

The school has a specialised careers programme to help you develop your CV and start planning for your future career. 

Mathematics is a wide-ranging and versatile subject, and the list of careers open to you as a mathematics graduate is extensive. Some graduates make specific use of mathematics while others use the more general skills they have gained, such as analysis and problem solving, high-level numeracy and a capacity to learn independently.

Our graduates are in high demand from prospective employers and have been well received into a broad range of careers in commerce, industry, the professions and government. The University of Nottingham is one of a small number of leading universities whose graduates are targeted for recruitment by various top companies. Our graduates have been well received in a broad spectrum of careers which include:

  • commerce
  • engineering
  • financial services
  • government
  • industry
  • information technology
  • science

Postgraduate research

Rather than directly entering the employment market upon graduating, you might decide to continue your studies at higher-degree level. Postgraduate areas of study include:

  • business studies
  • computer science
  • education
  • engineering
  • finance
  • mathematics
  • statistics

Each year some of our best students choose to stay at Nottingham and join our lively group of postgraduate research students in the School of Mathematical Sciences.

The research groups within the school each offer a large number of diverse and interesting research projects, across the specialisations of pure mathematics, applied mathematics and statistics.

Professional recognition

royal-statistical-society

This course is recognised by the Royal Statistical Society and the Institute and Faculty of Actuaries.

Average starting salary and career progression

In 2014, 93% of first-degree graduates in the School of Mathematical Sciences who were available for employment had secured work or further study within six months of graduation. The average starting salary was £24,387 with the highest being £50,000.*

In 2014, 92% of first-degree graduates in the School of Economics who were available for employment had secured work or further study within six months of graduation. The average starting salary was £29,639 with the highest being £52,000.*

* Known destinations of full-time home and EU first-degree graduates, 2013/14.

Careers support and advice

Studying for a degree at The University of Nottingham will provide you with the type of skills and experiences that will prove invaluable in any career, whichever direction you decide to take. Throughout your time with us, our Careers and Employability Service can work with you to improve your employability skills even further; assisting with job or course applications, searching for appropriate work experience placements and hosting events to bring you closer to a wide range of prospective employers.

Have a look at our Careers page for an overview of all the employability support and opportunities that we provide to current students.  

 
 

Fees and funding

Scholarships and bursaries

The University of Nottingham offers a wide range of bursaries and scholarships. These funds can provide you with an additional source of non-repayable financial help. For up to date information regarding tuition fees, visit our fees and finance pages.

Home students*

Over one third of our UK students receive our means-tested core bursary, worth up to £2,000 a year. Full details can be found on our financial support pages.

* A 'home' student is one who meets certain UK residence criteria. These are the same criteria as apply to eligibility for home funding from Student Finance.

International/EU students

The University of Nottingham provides information and advice on financing your degree and managing your finances as an international student. The International Office offers a range of High Achiever Prizes for students from selected schools and colleges to help with the cost of tuition fees.

International Orientation Scholarship
The International Orientation Scholarship is awarded to the best international (full-time, non EU) applicants to the school's courses. The scholarship is awarded in subsequent years to students who perform well academically (at the level of a 2:1 Hons degree or better at the first attempt).

Students on the BSc Mathematics and Economics degree course in the School of Mathematical Sciences receive £1,000. Please note that the scholarship will be paid once for each year of study, so if you repeat a year for any reason, the scholarship will not be paid for that repeated year.

The scholarship will be paid by cheque in December each year, provided you have registered with the university and the school, are on a relevant course on the 1 December census and have paid the first instalment of your fee.

International Office

The University of Nottingham provides information and advice on financing your degree and managing your finances as an international student. The International Office offers a range of High Achiever Prizes for students from selected schools and colleges to help with the cost of tuition fees.  
 
 

Key Information Sets (KIS)

Key Information Sets (KIS)

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Disclaimer
This online prospectus has been drafted in advance of the academic year to which it applies. Every effort has been made to ensure that the information is accurate at the time of publishing, but changes (for example to course content) are likely to occur given the interval between publishing and commencement of the course. It is therefore very important to check this website for any updates before you apply for the course where there has been an interval between you reading this website and applying.

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