Industrial Economics with Insurance BSc

   
   
  

Fact file - 2019 entry

Qualification
BSc Hons Industrial Economics with Insurance
UCAS code
L1N3
Duration
3 years full-time
A level offer
AAB
Required subjects
GCSE maths, 5 (B) or above
IB score
34
Course location
Course places
5
School/department
 

Overview

Incorporating specialist insurance content, this course will help you develop the skills needed for a career in financial services or risk management.
Read full overview

BSc Industrial Economics with Insurance is based on  BSc Industrial Economics, with additional core modules in insurance and risk management. It is accredited by the Chartered Insurance Institute.

This course involves the study of theoretical and applied microeconomics, with specialist insurance content provided by the Business School's Centre for Risk, Banking and Financial Services.

Year one

The first year of the course includes core modules in microeconomics and macroeconomics, entrepreneurship, corporate strategy, organisational studies, business computing, quantitative methods, and insurance and risk management.

Year two

The second year of study typically includes core modules in the economics of innovation, pricing and decision making, organisation, risk management decisions, international firms, quantitative methods and econometrics.

You can also apply to spend the full year or a semester of your second year studying abroad at the University's campuses in China or Malaysia, or to take a semester at one of our partner institutions in locations such as Australia, China and Europe.

Year three

Your final year will incorporate industrial economics, regulation, corporate restructuring and governance, risk information, and insurance and risk management processes.

Key facts

  • This course is accredited by the Chartered Insurance Institute
  • One of the UK's leading centres for management education, part of an elite group of global EQUIS accredited business schools
  • Development and employability programmes that bring you closer to top employers, including Deloitte, HSBC, PwC and Unilever
  • Opportunities to  study abroad at the University's campuses in China or Malaysia or in locations such as Australia, China and Europe
 

Entry requirements

A levels: AAB excluding general studies, critical thinking and citizenship studies

GCSEs: GCSE maths, 5 (B) or above, unless taking it at A level

Understand how we show GCSE grades

English language requirements

IELTS: 7.0 (no less than 6.0 in any element)

For details of other English language tests and qualifications we accept, please see our entry requirements page.

If you require additional support to take your language skills to the required level, you may be able to attend a presessional course at the Centre for English Language Education, which is accredited by the British Council for the teaching of English in the UK.

Students who successfully complete the presessional course to the required level can progress onto their chosen degree course without retaking IELTS or equivalent.

International applicants

For country-specific information including entry requirements, contact details and representatives, see our website. If you need a visa to study, the University can provide all the information and advice you need.

Mature students

At the University of Nottingham we have a valuable community of mature students and we appreciate their contribution to the wider student population. You can find lots of useful information in our guide for mature students.

Alternative qualifications

Our admission process recognises that applicants have a wealth of different experiences and may have followed various educational pathways. Please view the alternative qualifications page for details.

Flexible admissions policy

In recognition of our applicants’ varied experience and educational pathways, the University of Nottingham employs a flexible admissions policy. We may make some applicants an offer lower than advertised, depending on their personal and educational circumstances. Please see the University’s admissions policies and procedures for more information.

Notes for applicants

All applicants who are made an offer are invited to visit the Business School and meet members of staff and students at our offer-holder events.

The school does not normally interview candidates; our offers are made on the basis of the information contained in your UCAS application. We welcome applications from mature candidates and consider academic and professional backgrounds on an individual basis. We also consider other qualifications in addition to those listed above.

Please note we do not accept entry, or transfer from another university, into year two or above on any of our undergraduate degrees.

 
 

Modules

The following is a sample of the typical modules that we offer as at the date of publication but is not intended to be construed and/or relied upon as a definitive list of the modules that will be available in any given year. Due to the passage of time between commencement of the course and subsequent years of the course, modules may change due to developments in the curriculum and the module information in this prospectus is provided for indicative purposes only.

Typical year one modules

Core modules

Entrepreneurship: Theory and Practice

The module presents a formal analysis of entrepreneurship in theory and practice leading on to a consideration of creativity and business concept generation. The module concludes with the practical application of these theories and concepts in business planning and business concept presentation.

 
Introduction to Economics

This module introduces you to microeconomics and macroeconomics. This module introduces you to the microeconomic theory of the market and the firm. Topics covered include:

  • market demand
  • supply and equilibrium
  • firm production and costs
  • market structure
  • perfect competition
  • monopolistic competition
  • oligopoly and monopoly

This module introduces you to the nature and scope of the macroeconomic policy agenda, and develops the analytical frameworks necessary for the evaluation of policy instruments. The module enables you to understand the economic arguments that under-lie different views and to evaluate relevant arguments.

 
Microeconomics for Business

This module introduces you to the microeconomic theory of the market and the firm. Topics covered include:

  • market demand
  • supply and equilibrium
  • firm production and costs
  • market structure
  • perfect competition
  • monopolistic competition
  • oligopoly and monopoly
 
Professional and Academic Development

This module covers:

  • rules and regulations of studying at University, organisational skills and time management, and how to approach reflective work and skills analysis
  • essay writing, referencing and plagiarism, taking minutes and agendas
  • team working, listening skills, values, personal attributes, networking, cultural awareness
  • problem solving, critical thinking and decision making, SDGs and project - social enterprises
  • study abroad, careers insight days, CVs and applications
  • communication - personal brand, self-awareness values
  • project management
  • interviews and assessment days - careers and some external companies, commercial awareness
  • presentation skills
  • ethics in business and technology in relation to future careers
 
Quantitative Methods 1B

This module covers:

  • economic application of calculus
  • confidence intervals
  • introduction to hypothesis testing
  • partial differentiation
  • optimisation of two variables
  • probability
  • random variables
  • sampling distributions
 

Optional modules

Plus 40 credits of approved optional modules.

 

Typical year two modules

Core modules

Firm Strategy and Internationalisation

Content to be confirmed.

 
Industrial Economics I: Economics of Organisation and Innovation

Content to be confirmed.

 
Industrial Economics II: Pricing and Decision Making

Content to be confirmed.

 
Insurance in a Risky World

The module examines how insurance markets operate to satisfy commercial and individual customers' demand for protection against risk, and would usually include:

  • introduction to insurance
  • private and social insurance
  • the historical development of insurance
  • why buy property/liability insurance
  • why buy life, health and pensions insurance
  • the supply of insurance
  • Lloyd's and the London Insurance Market
  • how is insurance distributed to consumers
  • the role of insurance in the economy
  • international aspects of insurance
  • insurance and catastrophes
 
Introductory Econometrics

This module will provide an introduction to the theory and practice of quantitative economic modelling at a basic level. The theoretical framework will be developed around the classical regression model and its extensions, with theoretical understanding being supplemented with computer-based practical examples of modelling and data analysis. 

 
Quantitative Methods 2A

In this module you'll study further maths and statistics including topics such as linear algebra, constrained optimisation, difference equations and hypothesis testing. 

 
Risk Management Decisions

This module will introduce the different aspects of corporate risk and examine how the risk of fortuitous loss may affect the various stakeholders in the operations of firms.

 

Optional modules

Plus 40 credits of approved optional modules.

 

Typical year three modules

Core modules

Corporate Restructuring and Governance

This module examines the antecedents and consequences of corporate restructuring. Factors triggering corporate restructuring are considered in a number of alternative organisational settings. In particular, the role of corporate governance in inducing and shaping corporate restructuring receives special attention (in particular, executive compensation and the market for corporate control).

The process of restructuring is discussed against a background of resource-based, agency and behavioural theories of the firm. The impact of corporate restructuring on the size, complexity, incentive systems and ownership structure of large firms is examined. Finally, the evidence relating to the effects of corporate restructuring on performance, employment, R&D and corporate governance is examined.

 
Economics of Regulation and Public Choice

This module covers the two broad areas of regulation and competition policy. Topics covered include:

  • natural monopoly regulation
  • retail price control
  • access pricing
  • universal service obligations
  • public policy on inter-firm agreements and restrictive practices
  • abuse of monopoly power and merger control
 
Financial Economics

This module presents an introduction to financial economics focusing on topics such as:

  • the determination of interest rates
  • the role of financial institutions in the financial and monetary system
  • banking regulation and risk management in banks
 
Industrial Economics III: Market Structure and Competition Policy

Content to be confirmed.

 
Industrial Economics IV: Games and Strategies

Content to be confirmed.

 
Risk, Information and Insurance

This module examines individual decision-making under conditions of risk and uncertainty, and investigates the effectiveness of insurance as a means of controlling risk.

 
Risk Management Processes

This module will discuss the processes utilised by corporate enterprises to manage the risk of fortuitous loss. Once corporate risks have been identified and their impact on the firm measured, risk management attempts to control the size and frequency of loss, and to finance those fortuitous losses which do occur. 

 

Optional modules

Plus 40 credits of approved optional modules.

 
 
 

Study abroad

On this course, you can apply to spend all or part of your second year studying abroad at the University's campuses in China or Malaysia, or to take a semester at one of our partner institutions in locations such as Australia, China and Europe.

You will get the opportunity to broaden your horizons and enhance your employability by experiencing another culture. You can choose to study similar modules to your counterparts back in Nottingham or expand your knowledge by taking other options. Teaching is typically in English; however, there may be opportunities to study in another language if you are sufficiently fluent.

 

Careers

Graduates from the Business School are highly sought after in the job market, gaining employment in accountancy, banking and other financial services, while many others develop careers in management consultancy, marketing and human resource management.

Recent graduate employers include Accenture, Amazon, Apple, Barclays, British Army, Deloitte, Ernst & Young, HMRC, HSBC, KPMG, Lloyds Banking Group, Macquarie, Morgan Stanley, PwC, RBS, Saatchi & Saatchi, Samsung, Santander, and Standard Chartered Bank.

The Business School's careers and recruitment service provides targeted and bespoke support to help steer you onto a career path of your choice. You will have opportunities to network with top employers throughout your degree, with many of these companies choosing to sponsor prizes for the highest-performing students in different years of study or particular subjects.

CII

Professional accreditation

This course is accredited by the Chartered Insurance Institute.

Employability and average starting salary

98.7% of undergraduates from Nottingham University Business School had secured work or further study within six months of graduation. The average starting salary was £24,000 with the highest being £42,000.*

* Known destinations of full-time home undergraduates who were available for work 2016/17. Salaries are calculated based on the median of those in full-time paid employment within the UK.

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

Our International Baccalaureate Diploma Excellence Scholarship is available for select students paying overseas fees who achieve 38 points or above in the International Baccalaureate Diploma. We also offer a range of High Achiever Prizes for students from selected countries, schools and colleges to help with the cost of tuition fees. Find out more about scholarships, fees and finance for international students.

 
 
 

Key Information Sets (KIS)


KIS is an initiative that the government has introduced to allow you to compare different courses and universities. 

How to use the data

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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