Bachelor of Science (Honours) - Business Economics (Industry) (4V11)

Economics plays a vital role in business and management. Through this flexible degree, embedded within Lancaster's wide-ranging Management School and delivered by high-quality researchers recognised for their teaching with the TEF Gold accreditation, students will apply their learning to real-world issues: Should a company open a new store? Who gains from interest rate changes? What are the implications of performance-related pay?

This degree includes a valuable paid placement in industry, where students will experience economics in action, and balances a thorough grounding in economics with the chance to explore subjects from across the Management School.

In the first year, students can choose to find out more about accounting, finance, strategy, organisations and their people, marketing and the principles of economics. Students do not need an A level in Economics and there is less focus on maths and statistics than with some of the other economics options. All second-year students learn about macroeconomics, microeconomics and social research methods. This includes topics such as competitive advantage, the international financial sector and strategic behaviour. The flexible degree structure offers options covering the economics of crime, game theory and the role of governments within the economy. Students are taught by expert researchers working at the cutting-edge of the field.

The third year is spent in industry. Students will be supported in securing a placement, with past students joining companies such as IBM, Lloyds Bank, Microsoft, PwC and the Bank of England. Roles on offer range from project management and logistics to investment, business development and risk. Most placements are in the UK, but there are some options overseas. Placement experiences form the basis of the final-year dissertation. Students will also be able to specialise further in specific fields such as econometrics, health economics, industrial organisation and monetary macroeconomics.

The department trains its graduates in how to think, not what to think. Students' analytical skills, practical experience and economic knowledge will stand in good stead in the jobs market. They will have support from the university's careers team, which includes a dedicated departmental careers coach who works with students from day one, helping with internships, placements and graduate employment. The university will supply training in CV writing, interview assessment centres and telephone interviews. Recent graduates have continued on to professional training as financial advisers, traders and underwriters or secured roles in finance, accountancy and advertising.

The university will use all reasonable effort to support students to find a suitable placement for their studies. While a placement role may not be available in a field or organisation that is directly related to each student's academic studies or career aspirations, all placement roles offer valuable experience of working at a graduate level and gaining a range of professional skills. If students are unsuccessful in securing a suitable placement for the third year, they will be able to transfer to the equivalent non-placement degree scheme and would continue with their studies at Lancaster, finishing the degree after the third year. The University offers a range of shorter placement and internship opportunities for which students would be welcome to apply.

• Minimum Level of Education Required: 1-Year Post-Secondary Certificate
• Min GPA: 75.0%
• English Proficiency Requirements:
  For direct admission, applicant must be from an English speaking country or meet either of the following English test scores:
  • Min TOEFL iBT: 87 (Min Listening: 17.0, Min Reading: 18.0, Min Speaking: 17.0, Min Writing: 20.0)
  • Min IELTS overall: 6.5 (Min Listening: 5.5, Min Reading: 5.5, Min Speaking: 5.5, Min Writing: 5.5)
  • Min PTE overall: 58 (Min Listening: 42, Min Reading: 42, Min Speaking: 42, Min Writing: 42)
  Applicants interested in applying for direct admission, but are yet to complete an acceptable language test, can do so, but must provide valid results before receiving a final offer letter.
  For conditional admission, you are required to provide English proficiency scores:
  • Min IELTS overall: 5.5 (Min Listening: 5, Min Reading: 5, Min Speaking: 5, Min Writing: 5)