- Economics and Mathematics
BSc (Hons) — 2025 entry Economics and Mathematics
Mathematics is key to our understanding of economics in today's world. This degree gives you in-depth technical and analytical training which is highly regarded by employers in a range of industries. With your high level mathematical and statistical skills you'll be able to apply advanced mathematical techniques to real-world situations. This will enable you to progress to a successful career in finance, business and many other fields.
Why choose
this course?
- Our BSc (Hons) Economics and Mathematics course provides you with high-level economics, mathematics and statistical skills in about equal parts.
- Our teaching is at the forefront of the field and is influenced by real-world case studies and economic applications brought to classrooms by research active academics. Many of our academic staff are advisers to governments and world-renowned organisations.
- You’ll have the option to take one of our award-winning Professional Training placements that will prepare you for work in data driven industries.
Statistics
11th in the UK
For Business and Economics in the Times Higher Education World Subject Rankings 2024
6th in the UK
For research impact in the Research Excellence Framework (REF) 2021
11th in the UK
The University of Surrey is ranked 11th for overall student satisfaction* in the National Student Survey 2024
*Measured by % positivity based on Q1-24 for all institutions listed in the Guardian University Guide league tables
Accreditation
What you will study
Our BSc (Hons) Economics and Mathematics course takes core components of economics and blends these with modules that cover those aspects of maths that are most relevant for economists.
You’ll study the economic behaviour of economic agents such as individuals, firms and governments. You’ll also gain the mathematical and statistical expertise needed to tackle the most challenging economic and data-driven problems.
By the end of the course, you’ll have a highly sought-after mix of skills, equipping you to solve real-world problems in economics, finance, business and public policy.
Professional recognition
BSc (Hons) - Chartered Institute of Management Accountants (CIMA)
Accredited by the Chartered Institute of Management Accountants (CIMA) for the purpose of exemption from some professional examinations through the Accredited degree accelerated route.
The academic year is divided into two semesters of 15 weeks each. Each semester consists of a period of teaching, revision/directed learning and assessment.
The structure of our programmes follow clear educational aims that are tailored to each programme. These are all outlined in the programme specifications which include further details such as the learning outcomes.
Please note: The full module listing for the optional Professional Training placement part of your course is available in the relevant programme specification.
Modules
Modules listed are indicative, reflecting the information available at the time of publication. Modules are subject to teaching availability, student demand and/or class size caps.
The University operates a credit framework for all taught programmes based on a 15-credit tariff.
Course options
Year 1 - BSc (Hons)
Semester 1
Compulsory
This module introduces students to core elements of economic theory which forms the basis of the Macro and Micro modules in the Semester 2 of first year. Understanding a number of concepts, like specialisation, markets, competition, rational behaviour and the structure of the economy are key learning outcomes from this module and prepare students for further study in Economics and related subjects.
View full module detailsThis module introduces students to the most important techniques in Calculus. In particular, the module leads to a deeper understanding of the concepts of differentiation and integration. These concepts provide fundamental tools for quantitative descriptions of the real world across the entirety of applied mathematics. Tools and methods for differentiation and integration will be presented in detail. In addition, simple first and second order ordinary differential equations will be studied. Such equations have important applications for interpreting and understanding the world around us.
View full module detailsThis module combines an introduction to abstract algebra and methods of proof, with an introduction to vectors and matrices with applications to algebraic and geometric problems. This module is fundamental to subsequent modules including MAT1034 Linear Algebra and MAT2048 Groups & Rings.
View full module detailsProbability is a numerical description of random events, and statistics is the science of collecting and analysing data from these random events and modelling them with random variables. Students will be introduced to the basic concepts of probability distributions, hypothesis testing and random variables. These concepts are fundamental in probability and statistics and lay the foundations for Level 5 Mathematical Statistics (MAT2013), Linear Statistical Methods (MAT2053) and Stochastic Processes (MAT2003). Students will also be introduced to programming in the statistical software R, and thus gain employability through enhancing their digital capabilities.
View full module detailsSemester 2
Compulsory
This module builds on the Introductory Economics module by extending the analyses of microeconomic concepts. In particular, it looks at the firm’s supply decision (involving cost and production), and the effect of market structure on the firm’s demand, studies labour markets and explains the constrained optimisation model of labour supply, introduces students to how to model risk and information problems, and covers aspects of welfare economics and market failure (with an application to the environment). The module uses maths from the Quantitative Methods and Maths for Economics modules to demonstrate the role maths can play in economic theory; and makes use of examples from empirical research, reports and news media to illustrate some of the concepts covered. By doing this, the module provides a firm foundation for more advanced microeconomics as the programme proceeds, and for optional modules that apply microeconomic principles.
View full module detailsIn this module we pose the 'big' questions about the economy, study the relevant data, build models that help explain what we observe, and evaluate these models.
View full module detailsThis module is an introduction to Linear Algebra, a fundamental mathematical discipline that revolves around the exploration of vector spaces as well as linear maps between these spaces. This often necessitates the solution of systems of linear equations, which are elegantly described by matrices and vectors. Techniques from Linear Algebra find application in numerous disciplines ranging from pure and applied mathematics to many fields of science, engineering, computing and economics. This module builds on MAT1031: Algebra and provides a foundation for a variety of subsequent modules, including MAT2009 Operations Research and Optimisation, MAT2047 Curves and Surfaces, MAT2048 Groups & Rings, MAT3004 Introduction to Function Spaces and MAT3039 Quantum Mechanics.
View full module detailsThis module introduces students to Multivariable Calculus in two and three dimensions, and selected topics such as differential operators and line integrals in Vector Calculus. This extends students’ knowledge developed in MAT1030 Calculus on differentiation and integration of single variable functions to partial differentiation, and double and triple integration of two and three-variable functions. This module provides the necessary ground work for modules such as MAT2047 Curves and Surfaces, MAT2050 Inviscid Fluid Dynamics, and MAT2054 Functions of a Complex Variable.
View full module detailsSemester 1 & 2
Compulsory
This module provides information, guidance and support for developing employability.
View full module detailsOptional modules for Year 1 - FHEQ Level 4
The following modules are taken in addition to all other modules and do not count towards progression of the final programme award
ECO1021
Year 2 - BSc (Hons)
Semester 1
Compulsory
The module builds on the first year microeconomics modules and serves as a foundation for subsequent study of microeconomic topics within the relevant degree programs such as consumer choice and game theory. The module uses some mathematical techniques (from the Level 4 Mathematics modules) and graphical analysis.
View full module detailsThis module provides students with the basic mechanics, both in terms of the theoretical background and the practical skills, for carrying out applied econometrics. Throughout there is an emphasis on understanding the assumptions of the methods so as to gain an appreciation of what such techniques can and cannot deliver. An important part of the course is the training in the use of the econometrics software package Stata. The module relies on the mathematics and statistics students have studied at Level 4, and lays the foundations for subsequent modules in econometrics at Level 5 and 6.
View full module detailsThe module progresses naturally from the macroeconomic models already encountered in first year Principles of Macroeconomics (ECO1019) to build intra-temporal and inter-temporal macroeconomic models from microeconomic principles to explore various macro topics, such as credit market, social security, banking, inflation and economic growth, and examines how macroeconomic policy influences economic performance. It serves as a foundation for Intermediate Macroeconomics 2 (ECO2046).
View full module detailsThis module builds on the differential equation aspects of the Level 4 modules Calculus and Linear Algebra and considers qualitative and quantitative aspects of Ordinary Differential Equations.
View full module detailsSemester 2
Compulsory
Stochastic processes are a series of random variables. Students will be introduced to both Markov Chains and continuous Markov stochastic processes, where the distributions of future random variables are determined by the value of the most recent random variable. These models are important for modelling things which change over time, such as voting intention or population size.
View full module detailsStatistical modelling provides a means of extracting information from data, enabling informed decisions to be made. It is a versatile and powerful tool with widespread applications contributing to advancements in research, business, technology, and society. Students will be introduced to the basic concepts of statistical modelling via linear regression models, which are fundamental in statistics and serve as the basis for more complex modelling techniques. Model fitting, selection and evaluation are covered for: Simple Linear Regression; polynomial regression and multiple regression models. The module concludes with the introduction of simple models in the Design of Experiments, covering the use of such experiments and the analysis of data arising from them. The statistical software R is fully integrated with the module. Students will reinforce their understanding of concepts of statistical modelling and develop their digital capabilities by using R to conduct analyses of real data sets from business, science and industry.
View full module detailsOptional
This module follows on from Introductory Econometrics and considers econometric theory and methods when Gauss Markov assumptions fail to hold. The first half introduces different examples of the endogeneity problem and their solutions. The second half of this module deals with stationary and nonstationary time series.
View full module detailsMacroeconomic policy and performance are fundamental to our daily lives. This course gives the students a systematic way of thinking about macroeconomic issues. The students will be able to derive macroeconomic models based on the behaviour of economics agents. The students will end up with a model that they could can use independently to understand macroeconomic behaviour and policy issues in the real world.
View full module detailsThis module will build on, and extend, what students have learned in previous microeconomics courses. We will continue to study how agents make optimising decisions, but here with a focus on how those decisions can be inefficient when there are market failures, as opposed to the perfectly competitive world that students have mostly studied before in, for example, the Microeconomics module in the previous semester. Some prominent real-world examples are environmental externalities, or the provision of public goods. We will also explore common mechanisms that have been developed to try and move decisions to more efficient outcomes; for example taxes, tradable permits, preference revelation mechanisms. We will study how societies, rather than individuals, can make collective decisions over resource allocations when preferences differ across the population – again, particularly relevant in the case of public goods. Some of the topics may have been touched on in level 4, but students will see how learning progresses by looking at topics in more detail and with more rigour. Paralleling this, the learning outcomes in this module will provide a basis upon which to build for some of level 6’s microeconomic-based modules.
View full module detailsSemester 1 & 2
Compulsory
This module helps students develop their employability through both reflection and practice, building on the skills developed in Employability I.
View full module detailsOptional modules for Year 2 - FHEQ Level 5
Students choose two optional modules from the modules listed in Semester 2.
The following modules are taken in addition to all other modules and do not count towards progression of the final programme award
ECO2063
Year 3 - BSc (Hons)
Semester 1
Optional
By the end of the module students will have learnt how to carry out empirical analyses using appropriate econometric software to study economic and financial time series data; how to interpret the results of such analyses; and will have acquired an ability to critically assess empirical papers.
View full module detailsThis module develops equilibrium concepts for static, dynamic, complete and incomplete information. These are applied to various aspects of economic importance: markets, bargaining, job-market signalling, expert advice and electoral competition. The module will advance students’ knowledge of microeconomics.
View full module detailsThis module provides an introduction to the applications of ordinary, delay and partial differential equations to ecology and epidemiology.
View full module detailsThe module broadly covers two parts. In the first part we concentrate on the theoretical foundations of international trade, i.e. address the questions “why do we trade” and “is trade good for us”. In the second part we focus on the policy instruments that are available to the designers of trade policy; our analysis involves issues related to the potential costs and/or benefits to a range of stakeholders of trade barriers, e.g. tariffs and quotas. We also investigate the issues of international trade agreements.
View full module detailsThis module introduces students to the field of behavioural economics which incorporates psychological evidence into economics. The standard approach in economics explains market outcomes and economic decision-making using theoretical models which usually assume that people are fully rational. Behavioural economics, on the other hand, seeks to increase the explanatory power of traditional models by considering a number of real life decision making situations where some standard rationality assumptions on preferences do not hold. This module builds mainly on the individual decision making models taught in microeconomics and financial economics modules in year 1 and year 2, identifies departures from these classical models, and use them as an inspiration to create alternative theories of decision making.
View full module detailsThis module introduces students to topological spaces and manifolds. Topology is the study of properties of spaces which are invariant under continuous transformations, and forms one of the cornerstones of pure mathematics. Study of topology leads to a deeper understanding of the concepts of continuity and connectedness. After introducing these key ideas, with appropriate examples, smooth manifolds are introduced. Differential forms and cohomology are developed, which enables the classification of manifolds using topologically invariant numbers. MAT2047 Curves and Surfaces is a recommended prior module, but is not pre-requisite. Students will also find the material in MAT3044 Riemannian Geometry complementary.
View full module detailsThis module looks at developments in microeconomic theory in relation to the role of information in the economy. It presents models of the basic contract theory and asymmetric information (moral hazard and adverse selection) as well as some of the applications of these models (e.g., insurance, labour market contracts). The module builds on the knowledge and skills the students have acquired in Levels 4 and 5 in terms of microeconomic theory, mathematical tools (algebra, calculus, constrained and unconstrained optimisation) and econometrics.
View full module detailsThe module has the aim of introducing students to core concepts in the blockchain technology. Students will become familiar with applications of cryptography to financial transactions and the technicalities behind cryptocurrencies and their workings. Using case studies and simulations, students will be exposed to the use of software wallets and engage in blockchain and cryptocurrency related transactions.
View full module detailsEconomics of Competition and Regulation Policy is a microeconomics course concerned with the performance of markets and the strategic behaviour of firms. The course draws on the fields of industrial organization and market design and focuses on imperfect competition, co-operation between firms, and common regulations such as anti-trust laws. This is a theory-based optional module for third year BSc students. The aim of the module is to provide a solid understanding of some of the core economic models of imperfect competition and to help students understand the challenges involved with designing and structuring markets.
View full module detailsThe module introduces the workings of financial and commodity derivatives markets and securities. Securities such as forwards, futures, swaps, CDOs and options have been traded on organised exchanges and/or ‘over the counter’, for decades. Financial markets are innovative and new derivative instruments are frequently introduced to facilitate risk-hedging or speculative investor operations. However, financial innovation can bring about its own significant risks, as the link between securitisation, CDOs and the credit crisis of 2007/08 showed. The emphasis of this module is on the pricing of derivative securities, their risks, as well as their use in professional settings, such as executive boards and derivative trading firms for hedging or investment purposes.
View full module detailsBayesian Statistics is the branch of statistics that relies on subjective probability to create a wide range of statistical models. This module introduces Bayesian methodology and guides students to use prior to posterior analysis for modelling realistic problems. This module then tackles more difficult topics such as Bayesian point estimates, model selection and linear regression.
View full module detailsSemester 2
Optional
This module builds on the econometrics foundation from the Introductory Econometrics and Intermediate Econometrics courses and emphasizes on introducing micro-econometric techniques used to analyse microeconomic data. The first half of this module considers techniques to achieve causal inference. The second half studies maximum likelihood estimation of limited dependent variable models (logit, probit, Poisson, censoring and selectivity), as well as basic machine learning methods. This will enable students to acquire the skill sets necessary to investigate important and intriguing empirical questions that have real-world impacts on society.
View full module detailsUtilising the material taught across different principal subjects in Economics, this module provides a comprehensive introduction to theoretical and applied issues related to the global banking industry. Understanding the role of the financial system in the economy in ensuring the efficient allocation of resources, its effect on policy making and the risks involved from a potential disruption of its operation are key learning outcomes from this module, especially for students who are interested in applying for employment in the financial sector.
View full module detailsThe module incorporates the foreign exchange market into a macroeconomic setting in order to shed light on the constraints within which open economies operate. At the heart of the analysis is the exchange rate and its determinants, including the different types of possible government intervention. In this context, the role of inflation, interest rates and market expectations are discussed. In addition, the government may also intervene in the foreign exchange market to manage the exchange rate by, e.g., buying or selling the international reserve currency. The decision whether to undertake or not such operations impacts on how the economy responds to different types of shocks (internal or external). The module covers these issues in detail and, in addition, provides a historical context for international arrangements concerning the exchange rate, as well as a review of episodes of exchange-rate crises.
View full module detailsThis unit introduces the students to the process of independent academic investigation and helps them develop research skills through the completion of a substantial research project. Students are expected to use the empirical and analytical skills that they acquired in other modules.
View full module detailsGraph theory is an aesthetically appealing branch of pure mathematics with strong links to other areas of mathematics (combinatorics, algebra, topology, probability, optimisation and numerics) and well-developed applications to a wide range of other disciplines (including operations research, data science, chemistry, systems biology, statistical mechanics and quantum field theory). This module provides an introduction to graph theory. There is an emphasis on theorems and proofs.
View full module detailsThis module explores topics within macroeconomics around two themes: Economic growth and dynamic equilibrium modeling. The aim of the economic growth part of the module is to survey the main models which are currently used to describe the determinants of economic growth. This includes both exogenous and endogenous growth models. The module will also develop a micro-founded dynamic equilibrium model of the macro-economy by combining agents and firms which are forward-looking and rational. This allows students to understand the modern model of economic fluctuations that informs economists and policymakers; it will develop their thinking in a structured framework. The importance of rigorous arguments is highlighted and insights about fiscal and monetary policy are drawn.
View full module detailsThis module introduces fundamental concepts in Quantum Mechanics and its applications to real-world quantum problems. The module covers the mathematics of Hilbert spaces and Dirac notation, the postulates of Quantum Mechanics, the uncertainty principle, the Schroedinger equation with one-dimensional applications to a particle in a potential well and the quantum harmonic oscillator, and angular momentum and spin. This module utilises material from MAT1034 Linear Algebra and MAT2007 Ordinary Differential Equations. The module also builds on material from MAT1036 Classical Dynamics and MAT3008 Lagrangian & Hamiltonian Dynamics, although these modules are not pre-requisite.
View full module detailsThis module introduces students to computational methods for solving and simulating economic models. The student will learn basic results and techniques in numerical analysis, acquire a working knowledge of programming language, and learn how to apply these tools to analyse quantitative implications of macroeconomic dynamic models and macroeconometrics. Matlab will be the main language taught in the course, while learning other languages (e.g. Python, Julia, etc) will be optional.
View full module detailsTime series are a collection of observations taken over time. This covers a great deal of situations such as stock markets, rainfall or even goals scored by a sports team. Features of the time series will lead to an appropriate choice of model. These models will be validated, and then can be used to forecast the future. Despite the modest pre-requisites of Level 4 Probability and Statistics (MAT1033), students will gain resourcefulness and resilience through learning mathematical proofs as well as gain digital capabilities through using R to conduct analyses of data sets and writing a report.
View full module detailsOptional modules for Year 3 - FHEQ Level 6
Choose 8 modules, 4 must be ECO* and 4 must be MAT*, note that some modules have prerequisites.
Year 1 - BSc (Hons) with placement
Semester 1
Compulsory
This module introduces students to core elements of economic theory which forms the basis of the Macro and Micro modules in the Semester 2 of first year. Understanding a number of concepts, like specialisation, markets, competition, rational behaviour and the structure of the economy are key learning outcomes from this module and prepare students for further study in Economics and related subjects.
View full module detailsThis module introduces students to the most important techniques in Calculus. In particular, the module leads to a deeper understanding of the concepts of differentiation and integration. These concepts provide fundamental tools for quantitative descriptions of the real world across the entirety of applied mathematics. Tools and methods for differentiation and integration will be presented in detail. In addition, simple first and second order ordinary differential equations will be studied. Such equations have important applications for interpreting and understanding the world around us.
View full module detailsThis module combines an introduction to abstract algebra and methods of proof, with an introduction to vectors and matrices with applications to algebraic and geometric problems. This module is fundamental to subsequent modules including MAT1034 Linear Algebra and MAT2048 Groups & Rings.
View full module detailsProbability is a numerical description of random events, and statistics is the science of collecting and analysing data from these random events and modelling them with random variables. Students will be introduced to the basic concepts of probability distributions, hypothesis testing and random variables. These concepts are fundamental in probability and statistics and lay the foundations for Level 5 Mathematical Statistics (MAT2013), Linear Statistical Methods (MAT2053) and Stochastic Processes (MAT2003). Students will also be introduced to programming in the statistical software R, and thus gain employability through enhancing their digital capabilities.
View full module detailsSemester 2
Compulsory
This module builds on the Introductory Economics module by extending the analyses of microeconomic concepts. In particular, it looks at the firm’s supply decision (involving cost and production), and the effect of market structure on the firm’s demand, studies labour markets and explains the constrained optimisation model of labour supply, introduces students to how to model risk and information problems, and covers aspects of welfare economics and market failure (with an application to the environment). The module uses maths from the Quantitative Methods and Maths for Economics modules to demonstrate the role maths can play in economic theory; and makes use of examples from empirical research, reports and news media to illustrate some of the concepts covered. By doing this, the module provides a firm foundation for more advanced microeconomics as the programme proceeds, and for optional modules that apply microeconomic principles.
View full module detailsIn this module we pose the 'big' questions about the economy, study the relevant data, build models that help explain what we observe, and evaluate these models.
View full module detailsThis module is an introduction to Linear Algebra, a fundamental mathematical discipline that revolves around the exploration of vector spaces as well as linear maps between these spaces. This often necessitates the solution of systems of linear equations, which are elegantly described by matrices and vectors. Techniques from Linear Algebra find application in numerous disciplines ranging from pure and applied mathematics to many fields of science, engineering, computing and economics. This module builds on MAT1031: Algebra and provides a foundation for a variety of subsequent modules, including MAT2009 Operations Research and Optimisation, MAT2047 Curves and Surfaces, MAT2048 Groups & Rings, MAT3004 Introduction to Function Spaces and MAT3039 Quantum Mechanics.
View full module detailsThis module introduces students to Multivariable Calculus in two and three dimensions, and selected topics such as differential operators and line integrals in Vector Calculus. This extends students’ knowledge developed in MAT1030 Calculus on differentiation and integration of single variable functions to partial differentiation, and double and triple integration of two and three-variable functions. This module provides the necessary ground work for modules such as MAT2047 Curves and Surfaces, MAT2050 Inviscid Fluid Dynamics, and MAT2054 Functions of a Complex Variable.
View full module detailsSemester 1 & 2
Compulsory
This module provides information, guidance and support for developing employability.
View full module detailsOptional modules for Year 1 (with PTY) - FHEQ Level 4
The following modules are taken in addition to all other modules and do not count towards progression of the final programme award
ECO1021
Year 2 - BSc (Hons) with placement
Semester 1
Compulsory
The module builds on the first year microeconomics modules and serves as a foundation for subsequent study of microeconomic topics within the relevant degree programs such as consumer choice and game theory. The module uses some mathematical techniques (from the Level 4 Mathematics modules) and graphical analysis.
View full module detailsThis module provides students with the basic mechanics, both in terms of the theoretical background and the practical skills, for carrying out applied econometrics. Throughout there is an emphasis on understanding the assumptions of the methods so as to gain an appreciation of what such techniques can and cannot deliver. An important part of the course is the training in the use of the econometrics software package Stata. The module relies on the mathematics and statistics students have studied at Level 4, and lays the foundations for subsequent modules in econometrics at Level 5 and 6.
View full module detailsThe module progresses naturally from the macroeconomic models already encountered in first year Principles of Macroeconomics (ECO1019) to build intra-temporal and inter-temporal macroeconomic models from microeconomic principles to explore various macro topics, such as credit market, social security, banking, inflation and economic growth, and examines how macroeconomic policy influences economic performance. It serves as a foundation for Intermediate Macroeconomics 2 (ECO2046).
View full module detailsThis module builds on the differential equation aspects of the Level 4 modules Calculus and Linear Algebra and considers qualitative and quantitative aspects of Ordinary Differential Equations.
View full module detailsSemester 2
Compulsory
Stochastic processes are a series of random variables. Students will be introduced to both Markov Chains and continuous Markov stochastic processes, where the distributions of future random variables are determined by the value of the most recent random variable. These models are important for modelling things which change over time, such as voting intention or population size.
View full module detailsStatistical modelling provides a means of extracting information from data, enabling informed decisions to be made. It is a versatile and powerful tool with widespread applications contributing to advancements in research, business, technology, and society. Students will be introduced to the basic concepts of statistical modelling via linear regression models, which are fundamental in statistics and serve as the basis for more complex modelling techniques. Model fitting, selection and evaluation are covered for: Simple Linear Regression; polynomial regression and multiple regression models. The module concludes with the introduction of simple models in the Design of Experiments, covering the use of such experiments and the analysis of data arising from them. The statistical software R is fully integrated with the module. Students will reinforce their understanding of concepts of statistical modelling and develop their digital capabilities by using R to conduct analyses of real data sets from business, science and industry.
View full module detailsOptional
This module follows on from Introductory Econometrics and considers econometric theory and methods when Gauss Markov assumptions fail to hold. The first half introduces different examples of the endogeneity problem and their solutions. The second half of this module deals with stationary and nonstationary time series.
View full module detailsMacroeconomic policy and performance are fundamental to our daily lives. This course gives the students a systematic way of thinking about macroeconomic issues. The students will be able to derive macroeconomic models based on the behaviour of economics agents. The students will end up with a model that they could can use independently to understand macroeconomic behaviour and policy issues in the real world.
View full module detailsThis module will build on, and extend, what students have learned in previous microeconomics courses. We will continue to study how agents make optimising decisions, but here with a focus on how those decisions can be inefficient when there are market failures, as opposed to the perfectly competitive world that students have mostly studied before in, for example, the Microeconomics module in the previous semester. Some prominent real-world examples are environmental externalities, or the provision of public goods. We will also explore common mechanisms that have been developed to try and move decisions to more efficient outcomes; for example taxes, tradable permits, preference revelation mechanisms. We will study how societies, rather than individuals, can make collective decisions over resource allocations when preferences differ across the population – again, particularly relevant in the case of public goods. Some of the topics may have been touched on in level 4, but students will see how learning progresses by looking at topics in more detail and with more rigour. Paralleling this, the learning outcomes in this module will provide a basis upon which to build for some of level 6’s microeconomic-based modules.
View full module detailsSemester 1 & 2
Compulsory
This module helps students develop their employability through both reflection and practice, building on the skills developed in Employability I.
View full module detailsOptional modules for Year 2 (with PTY) - FHEQ Level 5
Students choose two optional modules from the modules listed in Semester 2.
The following modules are taken in addition to all other modules and do not count towards progression of the final programme award
ECO2063
Year 3 - BSc (Hons) with placement
Semester 1
Optional
By the end of the module students will have learnt how to carry out empirical analyses using appropriate econometric software to study economic and financial time series data; how to interpret the results of such analyses; and will have acquired an ability to critically assess empirical papers.
View full module detailsThis module develops equilibrium concepts for static, dynamic, complete and incomplete information. These are applied to various aspects of economic importance: markets, bargaining, job-market signalling, expert advice and electoral competition. The module will advance students’ knowledge of microeconomics.
View full module detailsThis module provides an introduction to the applications of ordinary, delay and partial differential equations to ecology and epidemiology.
View full module detailsThe module broadly covers two parts. In the first part we concentrate on the theoretical foundations of international trade, i.e. address the questions “why do we trade” and “is trade good for us”. In the second part we focus on the policy instruments that are available to the designers of trade policy; our analysis involves issues related to the potential costs and/or benefits to a range of stakeholders of trade barriers, e.g. tariffs and quotas. We also investigate the issues of international trade agreements.
View full module detailsThis module introduces students to the field of behavioural economics which incorporates psychological evidence into economics. The standard approach in economics explains market outcomes and economic decision-making using theoretical models which usually assume that people are fully rational. Behavioural economics, on the other hand, seeks to increase the explanatory power of traditional models by considering a number of real life decision making situations where some standard rationality assumptions on preferences do not hold. This module builds mainly on the individual decision making models taught in microeconomics and financial economics modules in year 1 and year 2, identifies departures from these classical models, and use them as an inspiration to create alternative theories of decision making.
View full module detailsThis module introduces students to topological spaces and manifolds. Topology is the study of properties of spaces which are invariant under continuous transformations, and forms one of the cornerstones of pure mathematics. Study of topology leads to a deeper understanding of the concepts of continuity and connectedness. After introducing these key ideas, with appropriate examples, smooth manifolds are introduced. Differential forms and cohomology are developed, which enables the classification of manifolds using topologically invariant numbers. MAT2047 Curves and Surfaces is a recommended prior module, but is not pre-requisite. Students will also find the material in MAT3044 Riemannian Geometry complementary.
View full module detailsThis module looks at developments in microeconomic theory in relation to the role of information in the economy. It presents models of the basic contract theory and asymmetric information (moral hazard and adverse selection) as well as some of the applications of these models (e.g., insurance, labour market contracts). The module builds on the knowledge and skills the students have acquired in Levels 4 and 5 in terms of microeconomic theory, mathematical tools (algebra, calculus, constrained and unconstrained optimisation) and econometrics.
View full module detailsThe module has the aim of introducing students to core concepts in the blockchain technology. Students will become familiar with applications of cryptography to financial transactions and the technicalities behind cryptocurrencies and their workings. Using case studies and simulations, students will be exposed to the use of software wallets and engage in blockchain and cryptocurrency related transactions.
View full module detailsEconomics of Competition and Regulation Policy is a microeconomics course concerned with the performance of markets and the strategic behaviour of firms. The course draws on the fields of industrial organization and market design and focuses on imperfect competition, co-operation between firms, and common regulations such as anti-trust laws. This is a theory-based optional module for third year BSc students. The aim of the module is to provide a solid understanding of some of the core economic models of imperfect competition and to help students understand the challenges involved with designing and structuring markets.
View full module detailsThe module introduces the workings of financial and commodity derivatives markets and securities. Securities such as forwards, futures, swaps, CDOs and options have been traded on organised exchanges and/or ‘over the counter’, for decades. Financial markets are innovative and new derivative instruments are frequently introduced to facilitate risk-hedging or speculative investor operations. However, financial innovation can bring about its own significant risks, as the link between securitisation, CDOs and the credit crisis of 2007/08 showed. The emphasis of this module is on the pricing of derivative securities, their risks, as well as their use in professional settings, such as executive boards and derivative trading firms for hedging or investment purposes.
View full module detailsBayesian Statistics is the branch of statistics that relies on subjective probability to create a wide range of statistical models. This module introduces Bayesian methodology and guides students to use prior to posterior analysis for modelling realistic problems. This module then tackles more difficult topics such as Bayesian point estimates, model selection and linear regression.
View full module detailsSemester 2
Optional
This module builds on the econometrics foundation from the Introductory Econometrics and Intermediate Econometrics courses and emphasizes on introducing micro-econometric techniques used to analyse microeconomic data. The first half of this module considers techniques to achieve causal inference. The second half studies maximum likelihood estimation of limited dependent variable models (logit, probit, Poisson, censoring and selectivity), as well as basic machine learning methods. This will enable students to acquire the skill sets necessary to investigate important and intriguing empirical questions that have real-world impacts on society.
View full module detailsUtilising the material taught across different principal subjects in Economics, this module provides a comprehensive introduction to theoretical and applied issues related to the global banking industry. Understanding the role of the financial system in the economy in ensuring the efficient allocation of resources, its effect on policy making and the risks involved from a potential disruption of its operation are key learning outcomes from this module, especially for students who are interested in applying for employment in the financial sector.
View full module detailsThe module incorporates the foreign exchange market into a macroeconomic setting in order to shed light on the constraints within which open economies operate. At the heart of the analysis is the exchange rate and its determinants, including the different types of possible government intervention. In this context, the role of inflation, interest rates and market expectations are discussed. In addition, the government may also intervene in the foreign exchange market to manage the exchange rate by, e.g., buying or selling the international reserve currency. The decision whether to undertake or not such operations impacts on how the economy responds to different types of shocks (internal or external). The module covers these issues in detail and, in addition, provides a historical context for international arrangements concerning the exchange rate, as well as a review of episodes of exchange-rate crises.
View full module detailsThis unit introduces the students to the process of independent academic investigation and helps them develop research skills through the completion of a substantial research project. Students are expected to use the empirical and analytical skills that they acquired in other modules.
View full module detailsGraph theory is an aesthetically appealing branch of pure mathematics with strong links to other areas of mathematics (combinatorics, algebra, topology, probability, optimisation and numerics) and well-developed applications to a wide range of other disciplines (including operations research, data science, chemistry, systems biology, statistical mechanics and quantum field theory). This module provides an introduction to graph theory. There is an emphasis on theorems and proofs.
View full module detailsThis module explores topics within macroeconomics around two themes: Economic growth and dynamic equilibrium modeling. The aim of the economic growth part of the module is to survey the main models which are currently used to describe the determinants of economic growth. This includes both exogenous and endogenous growth models. The module will also develop a micro-founded dynamic equilibrium model of the macro-economy by combining agents and firms which are forward-looking and rational. This allows students to understand the modern model of economic fluctuations that informs economists and policymakers; it will develop their thinking in a structured framework. The importance of rigorous arguments is highlighted and insights about fiscal and monetary policy are drawn.
View full module detailsThis module introduces fundamental concepts in Quantum Mechanics and its applications to real-world quantum problems. The module covers the mathematics of Hilbert spaces and Dirac notation, the postulates of Quantum Mechanics, the uncertainty principle, the Schroedinger equation with one-dimensional applications to a particle in a potential well and the quantum harmonic oscillator, and angular momentum and spin. This module utilises material from MAT1034 Linear Algebra and MAT2007 Ordinary Differential Equations. The module also builds on material from MAT1036 Classical Dynamics and MAT3008 Lagrangian & Hamiltonian Dynamics, although these modules are not pre-requisite.
View full module detailsThis module introduces students to computational methods for solving and simulating economic models. The student will learn basic results and techniques in numerical analysis, acquire a working knowledge of programming language, and learn how to apply these tools to analyse quantitative implications of macroeconomic dynamic models and macroeconometrics. Matlab will be the main language taught in the course, while learning other languages (e.g. Python, Julia, etc) will be optional.
View full module detailsTime series are a collection of observations taken over time. This covers a great deal of situations such as stock markets, rainfall or even goals scored by a sports team. Features of the time series will lead to an appropriate choice of model. These models will be validated, and then can be used to forecast the future. Despite the modest pre-requisites of Level 4 Probability and Statistics (MAT1033), students will gain resourcefulness and resilience through learning mathematical proofs as well as gain digital capabilities through using R to conduct analyses of data sets and writing a report.
View full module detailsOptional modules for Year 3 (with PTY) - FHEQ Level 6
Choose 8 modules, 4 must be ECO* and 4 must be MAT*, note that some modules have prerequisites.
Year 3 - BSc (Hons) with placement
Semester 1 & 2
Core
This module supports students’ development of personal and professional attitudes and abilities appropriate to a Professional Training placement. It supports and facilitates self-reflection and transfer of learning from their Professional Training placement experiences to their final year of study and their future employment. The PTY module is concerned with Personal and Professional Development towards holistic academic and non-academic learning, and is a process that involves self-reflection, documented via the creation of a personal record, planning and monitoring progress towards the achievement of personal objectives. Development and learning may occur before and during the placement, and this is reflected in the assessment model as a progressive process. However, the graded assessment takes place primarily towards the end of the placement. Additionally, the module aims to enable students to evidence and evaluate their placement experiences and transfer that learning to other situations through written and presentation skills.
View full module detailsThis module supports students’ development of personal and professional attitudes and abilities appropriate to a Professional Training placement. It supports and facilitates self-reflection and transfer of learning from their Professional Training placement experiences to their final year of study and their future employment. The PTY module is concerned with Personal and Professional Development towards holistic academic and non-academic learning and is a process that involves self-reflection. Development and learning may occur before and during the placement, and this is reflected in the assessment model as a progressive process. However, the graded assessment takes place primarily towards the end of the placement. Additionally, the module aims to enable students to evidence and evaluate their placement experiences and transfer that learning to other situations through written skills.
View full module detailsThis module supports students' development of personal and professional attitudes and abilities appropriate to a Professional Training placement. It supports and facilitates self-reflection and transfer of learning from their Professional Training placement experiences to their final year of study and their future employment. The PTY module is concerned with Personal and Professional Development towards holistic academic and non-academic learning, and is a process that involves self-reflection, documented via the creation of a personal record, planning and monitoring progress towards the achievement of personal objectives. Development and learning may occur before and during the placement, and this is reflected in the assessment model as a progressive process. However, the graded assessment takes place primarily towards the end of the placement. Additionally, the module aims to enable students to evidence and evaluate their placement experiences and transfer that learning to other situations through written skills.
View full module detailsTeaching and learning
We provide teaching on this course through lectures, tutorials, seminars and workshop sessions, which total about 12 hours each week. The purpose is to use, rather than just study, economics.
In tutorials we’ll encourage you to present your own ideas and develop the verbal skills that will stand you in good stead for the future. Classes and workshops are practical sessions in which you’ll develop the ability to apply and use economics.
For each hour of teaching, you are expected to spend two to three hours in private study. There are also modules where we require you to work in groups.
We pride ourselves on the levels of supervision you will receive, creating a warm and friendly environment in which to study. The student experience is vital to the success of our Economics courses, and you’ll be encouraged to express yourself and develop your full potential.
- Group work
- Independent study
- Lectures
- Seminars
- Tutorials
- Workshops
Assessment
We assess modules individually and award credits for the successful completion of each one. Assessment takes place through a combination of examination and/or coursework, practical examinations and reports. Check individual module information to see full details at a module level.
General course information
Contact hours
Contact hours can vary across our modules. Full details of the contact hours for each module are available from the University of Surrey's module catalogue. See the modules section for more information.
Timetable
New students will receive their personalised timetable in Welcome Week. In later semesters, two weeks before the start of semester.
Scheduled teaching can take place on any day of the week (Monday – Friday), with part-time classes normally scheduled on one or two days. Wednesday afternoons tend to be for sports and cultural activities.
View our code of practice for the scheduling of teaching and assessment (PDF) for more information.
Location
Stag Hill is the University's main campus and where the majority of our courses are taught.
We offer careers information, advice and guidance to all students whilst studying with us, which is extended to our alumni for three years after leaving the University.
Economic decisions are at the heart of every society, shaping the future of individuals, organisations, regions and nations. This hints at the variety of careers available to economists and the range of skills you can expect to develop by studying one of our courses.
The problem-solving nature of the subject, the highly relevant and applied focus of our courses, and the potential for experience gained from your Professional Training placement are all appealing to employers.
Economics at Surrey has a proven track record of graduate employment: The survey, Graduate Outcomes 2024, HESA, shows that 95 per cent of our economics undergraduate students go on to employment or further study.
Jobs you can get with an Economics and Maths degree are:
- Consultant
- Credit Analyst
- Derivatives Trader
- Risk Analyst
- Senior Analyst
- Wealth Management graduate trainee.
Recent Economics graduates have launched their careers at:
- Arbuthnot Latham
- Barclays
- BNP Paribas
- Cantor Fitzgerald
- Compass Lexicon
- Oliver Wyman.
Learn more about the qualifications we typically accept to study this course at Surrey.
Typical offer
Overall: ABB
Required subjects: Mathematics at Grade A.
Please note: A-level General Studies and A-level Critical Thinking are not accepted. Applicants taking an A-level science subject with the Science Practical Endorsement are required to pass the practical element.
GCSE or equivalent: English Language at Grade 4 (C). Applicants must have achieved these grades at the time of making their application.
Overall: DDD with additional Mathematics grade A
Required subjects: A-level Mathematics Grade A.
GCSE or equivalent: English Language at grade 4 (C) and Mathematics at Grade 7 (A). Applicants must have achieved these grades at the time of making their application.
Overall: 33.
Required subjects: Maths Analysis and Approaches HL6/SL7 or Maths Applications and Interpretation HL6.
GCSE or equivalent: English A HL4/SL4 or English B HL5/SL6
Overall: 80%.
Required subjects: Maths (5 period) 8.5
GCSE or equivalent: English Language (1/2) 6 or English Language (3)7.
Overall: QAA recognised Access to Higher Education Diploma with 45 level 3 credits overall including 30 at Distinction and 15 at Merit. Additionally, A-level Mathematics grade A is required.
Required subjects: A-level Mathematics at Grade A.
GCSE or equivalent: English Language at Grade 4 (C). Applicants must have achieved these grades at the time of making their application.
Overall: AABBB.
Required subjects: Mathematics at Grade A.
GCSE or equivalent: English Language - Scottish National 5 - C. Maths - Scottish National 5 - A. Applicants must have achieved these grades at the time of making their application.
Overall: ABB from a combination of the Advanced Skills Baccalaureate Wales and two A-levels.
Required subjects: A-level Mathematics grade A.
Please note: A-level General Studies and A-level Critical Thinking are not accepted. Applicants taking an A-level science subject with the Science Practical Endorsement are expected to pass the practical element.
GCSE or equivalent: Please check the A-level drop down for the required GCSE levels.
Applicants taking the Extended Project Qualification (EPQ) will receive our standard A-level offer for this programme, plus an alternate offer of one A-level grade lower, subject to achieving an A grade in the EPQ. The one grade reduction will not apply to any required subjects.
Applicants can only receive one grade reduction from the published grades, an EPQ grade reduction can’t be applied in addition to other grade reductions made through other schemes such as Contextual Admissions or In2Surrey.
English language requirements
IELTS Academic: 6.5 overall with 6.0 in Writing and 5.5 in each other element.
View the other English language qualifications that we accept.
If you do not currently meet the level required for your programme, we offer intensive pre-sessional English language courses, designed to take you to the level of English ability and skill required for your studies here.
International Foundation Year
If you are an international student and you don’t meet the entry requirements for this degree, we offer the International Foundation Year at the Surrey International Study Centre. Upon successful completion, you can progress to this degree course.
Selection process
We normally make offers in terms of grades.
If you are a suitable candidate you may be invited to an offer holder event. During your visit to the University you can find out more about the course and meet staff and students.
Recognition of prior learning
We recognise that many students enter their higher education course with valuable knowledge and skills developed through a range of professional, vocational and community contexts.
If this applies to you, the recognition of prior learning (RPL) process may allow you to join a course without the formal entry requirements or enter your course at a point appropriate to your previous learning and experience.
There are restrictions on RPL for some courses and fees may be payable for certain claims. Please see the code of practice for recognition of prior learning and prior credit: taught programmes (PDF) for further information.
Contextual offers
Did you know eligible students receive support through their application to Surrey, which could include a grade reduction on offer?
Fees
Explore UKCISA’s website for more information if you are unsure whether you are a UK or overseas student. View the list of fees for all undergraduate courses.
Payment schedule
- Students with Tuition Fee Loan: the Student Loans Company pay fees in line with their schedule.
- Students without a Tuition Fee Loan: pay their fees either in full at the beginning of the programme or in two instalments as follows:
- 50% payable 10 days after the invoice date (expected to be early October of each academic year)
- 50% in January of the same academic year.
The exact date(s) will be on invoices. Students on part-time programmes where fees are paid on a modular basis, cannot pay fees by instalment.
- Sponsored students: must provide us with valid sponsorship information that covers the period of study.
Professional training placement fees
If you are studying on a programme which contains a Professional Training placement year there will be a reduced fee for the academic year in which you undertake your placement. This is normally confirmed 12 to 18 months in advance, or once Government policy is determined.
Additional costs
There are no required additional costs associated with this course.
Optional expenses
You may wish to purchase a STATA software licence for six to 12 months – £35 to £75 approximately. You may also want to buy an EViews software licence – £35.
These additional costs are accurate as of September 2023 and apply to the 2024 year of entry. Costs for 2025 entry will be published in September 2024.
Scholarships and bursaries
Discover what scholarships and bursaries are available to support your studies.
Our award-winning Professional Training placement scheme gives you the chance to spend a year in industry, either in the UK or abroad.
We have thousands of placement providers to choose from, most of which offer pay. So, become one of our many students who have had their lives and career choices transformed.
Economics and mathematics placements
Our Professional Training placement programme offers you the opportunity to put your skills and understanding of economics and mathematics into practice. You’ll be able to gain invaluable experience for your future career.
Placements are available in a range of organisations, including large corporations, city institutions and government departments.
Examples of organisations that students have worked with include:
- CERN
- HMRC
- Julius Baer (Zurich, Switzerland)
- Mesarete Capital Management
- Morgan Stanley
- Rosemount Financial Solutions.
Applying for placements
Students are generally not placed by the University. But we offer support and guidance throughout the process, with access to a vacancy site of placement opportunities.
Find out more about the application process.
"The excellent placement support and Surrey’s proximity to London made it one of my top choices. I chose Surrey as my number one option due to the opportunity to study Economics and Finance rather than pure Economics."
Study and work abroad
Studying at Surrey opens a world of opportunity. Take advantage of our study and work abroad partnerships, explore the world, and expand your skills for the graduate job market.
The opportunities abroad vary depending on the course, but options include study exchanges, work/research placements, summer programmes, and recent graduate internships. Financial support is available through various grants and bursaries, as well as Student Finance.
Perhaps you would like to volunteer in India or learn about Brazilian business and culture in São Paulo during your summer holidays? With 140+ opportunities in 36+ different countries worldwide, there is something for everyone. Explore your options via our search tool and find out more about our current partner universities and organisations.
Apply for your chosen course online through UCAS, with the following course and institution codes.
About the University of Surrey
Need more information?
Contact our Admissions team or talk to a current University of Surrey student online.
Terms and conditions
When you accept an offer to study at the University of Surrey, you are agreeing to follow our policies and procedures, student regulations, and terms and conditions.
We provide these terms and conditions in two stages:
- First when we make an offer.
- Second when students accept their offer and register to study with us (registration terms and conditions will vary depending on your course and academic year).
View our generic registration terms and conditions (PDF) for the 2023/24 academic year, as a guide on what to expect.
Disclaimer
This online prospectus has been published in advance of the academic year to which it applies.
Whilst we have done everything possible to ensure this information is accurate, some changes may happen between publishing and the start of the course.
It is important to check this website for any updates before you apply for a course with us. Read our full disclaimer.