How do stock markets work? What is the link between exchange rates and interest rates? How do betting markets operate?
Our BSc in Economics and Finance provides you with the analytical skills and intellectual toolbox to help answer these pressing questions and many more. You will learn how to interpret data, understand (and quantify) the decisions made by individuals, organisations, and governments and evaluate economic policies.
Programme overview
BSc Economics and Finance combines the broad sweep and critical thinking of Economics with a focus on the markets and investing of Finance. The programme is flexible after the first year of your studies, allowing you to choose modules based on your strengths and interests as they evolve. You’ll benefit from our specialist careers coaching throughout your degree which is designed to prepare you for the career you want.
You will learn from leading academic researchers and expert practitioners in Economics and Finance, and you will begin by learning the foundations of Finance theory and methodology, and the fundamentals of Economics.
Your first year includes the modules Accounting and Finance, Quantitative Methods for Economics, and Principles of Economics A. These will introduce you to the key principles of both fields and are designed to give you solid foundations for the remainder of your degree.
In your second year, you will learn about Asset Pricing, Financial Accounting and Econometrics, amongst other topics.
In your final year, you have more flexibility in your module options and can choose options from:
Game Theory
Portfolio Management
Financial Markets
Monetary Macroeconomics
amongst many other specialisations.
Alongside these academic modules and throughout all three years of your study, you will have modules on careers and employability led by our Career Coaches. These are designed to prepare you for interviews and internships and show you what careers are available to you.
Throughout your studies, you will be led by academics at the frontier of financial research. Our researchers work on major European projects, including investigating how to apply artificial intelligence to banking, and on the art, precision and effectiveness of factor investing and hedge fund strategies. We have developed strong links with the Bank of England, top asset management companies, financial regulators and economists across the world. Our connections with Invesco allow us to deliver joint conferences and seminars, providing you with insights from both top academics and industry professionals.
Key facts
You do not need an A level in Economics to enrol in any of our degrees, although the BSc Economics does require A level Maths.
Throughout your degree, we’ll supply training in CV writing, interview assessment centres and telephone interviews. We are proud of our aspiring economists and aim to nurture the potential in every one of them.
Employers highly value our Economics and Finance degrees. Graduates from this programme work as economists in the public sector and academia, as well as in banking, professional services, international business, and international organisations.
Find out what it's like to study Economics and Finance at Lancaster University Management School.
Three reasons to study with us
Economics and Finance is a flexible, academically rigorous programme of study that prepares you from day one for a fulfilling, challenging career. There is a lot to take in, and we would love you to get in touch to find out more, but if you take away anything from your visit today let it be these three things:
1. We are Career-focused. Students come into these programmes for their career outcomes. We know this and have built our programmes accordingly.
2. We are Transformative. The course prepares students for their careers in two key ways:
You will develop excellent functional competencies and skills in Economics and Finance,
Our careers coaching, from which you will benefit throughout your degree, opens doors to fantastic careers.
3. We are Flexible. We know that students may want to focus on subject areas they didn’t even know existed when they came to the Management School. Our courses are flexible enough to allow for this.
Please contact our Admissions Tutor Dr Jiawen Li with any questions.
Careers
The skills gained from the two areas of your degree are highly desirable to employers, both within the finance industry and elsewhere.
Lancaster’s Finance and Economics graduates are able to capitalise on the analytical skills developed during their degree and many find themselves in a good position to win training contracts with major professional accounting firms; find employment within financial institutions and banks, or take up a variety of other posts within various industries.
Lancaster University is dedicated to ensuring you not only gain a highly reputable degree, you also graduate with the relevant life and work-based skills. We are unique in that every student is eligible to participate in The Lancaster Award which offers you the opportunity to complete key activities such as work experience, employability awareness, career development, campus community and social development. Visit our employability section for full details.
Lancaster University Management School has an award-winning careers team to provide a dedicated careers and placement service offering a range of innovative services for management school students. Our high reputation means we attract a wide range of leading global employers to campus offering you the opportunity to interact with graduate recruiters from day one of your degree.
Entry requirements
Grade requirements
A level AAB
Required subjects A level Mathematics grade B
GCSE English Language grade C or 4
IELTS 6.5 overall with at least 5.5 in each component. For other English language qualifications we accept, please see our English language requirements web pages.
Other qualifications
International Baccalaureate 35 points overall with 16 points from the best 3 Higher Level subjects including 6 in HL Mathematics (either analysis and approaches or applications and interpretations)
BTEC May be considered alongside A level Mathematics and Further Mathematics with at least one at grade B
We welcome applications from students with a range of alternative UK and international qualifications, including combinations of qualification. Further guidance on admission to the University, including other qualifications that we accept, frequently asked questions and information on applying, can be found on our general admissions web pages.
Delivered in partnership with INTO Lancaster University, our one-year tailored foundation pathways are designed to improve your subject knowledge and English language skills to the level required by a range of Lancaster University degrees. Visit the INTO Lancaster University website for more details and a list of eligible degrees you can progress onto.
Contextual admissions
Contextual admissions could help you gain a place at university if you have faced additional challenges during your education which might have impacted your results. Visit our contextual admissions page to find out about how this works and whether you could be eligible.
Course structure
Lancaster University offers a range of programmes, some of which follow a structured study programme, and some which offer the chance for you to devise a more flexible programme to complement your main specialism.
Information contained on the website with respect to modules is correct at the time of publication, and the University will make every reasonable effort to offer modules as advertised. In some cases changes may be necessary and may result in some combinations being unavailable, for example as a result of student feedback, timetabling, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes and new research. Not all optional modules are available every year.
Each year, students receive specific training by the Management School Careers Team, to prepare them for the graduate labour market. In the first year, the focus is on growing the student’s awareness of labour market dynamics and his or her professional aspirations and inclinations. The second year focuses on goal setting, action planning, and the development of a personalised career plan. The third year focuses on one-to-one sessions with career advisors. The Career Team is based in the Management School, organises events with employers and alumni, and coaches students on how to best perform in the graduate job market through seminars, surgeries, mock interviews and one-to-one advice.
This full-year module provides the foundation for your future study in Economics. It is divided into three parts. The first part provides a thorough introduction to Microeconomics (including the theory of demand, costs and pricing under various forms of market structure, and welfare economics). The second part provides a thorough introduction to Macroeconomics (including national income analysis, monetary theory, business cycles, inflation, unemployment, and the great macroeconomic debates).
The third part of the module, taught in parallel with the first two parts, shows how the key Micro- and Macroeconomics ideas can help us understand the world around us. In this part, we will use economic experiments to answer various questions, such as whether economists are selfish. We will analyse whether a sugar tax is a good idea, automation and the minimum wage, the structure, conduct and performance of big technology firms, and use the skills we have learned to analyse inequality, Brexit, and Covid-19. We will also discuss the distinction between transitory inflation and stagflation, central banks’ changing objectives, cryptocurrencies and the financial markets, fiscal and monetary policy responses to the pandemic, the Great Depression and the Great Recession, quantitative easing, currency crises, and the Euro debt crisis. Economics A is taught in conjunction with modules (ECON103 or MATH100, depending on the degree) which provide the quantitative foundations for further study in Economics.
This course provides a comprehensive introduction to the basic concepts and techniques of Accounting and Finance, which include financial accounting, managerial finance, and financial statement analysis.
An important element of this course is that it provides exposure to the business and financial environment within which the discipline of Accounting and Finance operates, using real-world financial data for actual companies.
The course covers concepts, techniques and interpretive skills that relate to the external financial reporting of companies and their relationship to the stock market, and to the use of accounting information for internal management purposes.
This module integrates elementary economic theory, mathematical and statistical methods and the interpretation of data in order to analyse economic issues of current policy importance. You will therefore be introduced to the basic tools of mathematics essential for a proper understanding of economics and business. Teaching on quantitative methods is combined with numerous practical applications to economics, enabling you to practise applying your analytical and quantitative skills to the topics developed and analysed in depth over the course of the module.
Core
core modules accordion
Each year, students receive specific training by the Management School Careers Team, to prepare them for the graduate labour market. In the first year the focus is on growing the student’s awareness of labour market dynamics and his or her professional aspirations and inclinations. The second year focuses on goal setting, action planning, and developing a personalised career plan. The third year focuses on one-to-one sessions with career advisors. The Career Team is based in the Management School, organises events with employers and alumni, and coaches students on how to best perform in the graduate job market through seminars, surgeries, mock interviews and one-to-one advice.
This module uses the tools of economics to study various macroeconomic variables (inflation, consumption, output, unemployment) and particularly their short-run and long-run dynamics. It covers topics related to fiscal policy and the sustainability of public debt in the intermediate run. In addition, students will study unemployment and labour market dynamics and more in general economic stability in the short run.
The module requires algebra, elementary calculus, logical thinking and general problem-solving ability.
Markets consist of individual buyers and sellers, each facing choices. A buyer must decide what, and how much, to purchase. A seller must decide how much to produce, how to produce it, and what price to charge. But how are these choices made? In this course, we will explore this question formally, with the aid of economic models. The topics include consumer choice, profit maximization and cost minimization. The module requires a basic knowledge of algebra and calculus.
By the end of the course, you will improve your logical thinking and problem-solving abilities.
This module provides a detailed analysis of four key Finance paradigms:
decision making under uncertainty, including utility theory,
state preference theory and arbitrage pricing
capital asset pricing and market equilibrium,
option pricing.
This module provides an introduction to the theoretical concepts and applications of econometrics. Econometric techniques taught include bivariate regression, multiple regression, and two-stage least squares. The importance and relevance of statistical and diagnostic testing are emphasised in the context of econometrics applications.
You will also learn how to use STATA, a statistical package that is used by many academic, governmental, and non-governmental institutions to conduct research and consulting.
This module provides an introduction to the use of management accounting information for management purposes. This includes an examination of cost-volume profit analysis, the concepts of direct and indirect costs, and various costing methods. The importance of budgets to organisations and their impact on performance are also discussed.
This module provides the tools necessary to produce the rigorous economic analyses that form the core of both microeconomics and macroeconomics.
During the first part of the course, the attention is on the dynamic analysis of systems, which is key to understanding how economic variables change over time, especially in response to shifts in government economic policy.
The second part of the course studies constrained optimization which is central to understanding how households and firms make their consumption and production decisions when faced with limited budgets. Throughout the whole course, we focus our analysis on concrete examples and intuition, with an emphasis on how to frame economic problems using the mathematical tools you will acquire in the course.
We will require you to apply the concepts learned in class, and to translate informal problems into formal language.
This module covers project evaluation methods, risk, return and the cost of capital (including the capital asset pricing model), corporate financing (including dividend policy and capital structure) and an introduction to options.
This module examines some of the main features of financial reporting by UK companies, the associated regulatory requirements and the concepts that underlie the preparation of general-purpose financial reporting. The module employs a practical, applied approach in exploring several key International Financial Reporting Standards related to topics of current interest and concern, including revenue from contracts with customers and financial instruments.
Core
core modules accordion
Each year, students receive specific training by the Management School Careers Team, to prepare them for the graduate labour market. In the first year the focus is on growing the student’s awareness of labour market dynamics and his or her professional aspirations and inclinations. The second year focuses on goal setting, action planning, and developing a personalised career plan. The third year focuses on one-to-one sessions with career advisors. The Career Team is based in the Management School, organises events with employers and alumni, and coaches students on how to best perform in the graduate job market through seminars, surgeries, mock interviews and one-to-one advice.
Optional
optional modules accordion
The course introduces state-of-the-art methods used in current macroeconomics research to understand short-run business cycle and inflation dynamics, as well as economic stabilisation policies.
We will develop a broad and deep knowledge of modern Dynamic Stochastic General Equilibrium (DSGE) macroeconomic models that employ microeconomic foundations and rational expectations. These models will be solved using advanced analytical and numerical-computational approaches. More specifically, we will use the DSGE neoclassical Real Business Cycle and New Keynesian frameworks to understand the different sources of aggregate economic fluctuations, and to examine the positive and normative roles of fiscal and monetary policies.
Finally, the course examines contemporary issues such as inflationary shocks, government debt financing through distortionary taxation, optimal (un)conventional monetary and fiscal policies in a zero interest rate-liquidity trap environment, and financial frictions.
This module explores how the theoretical and mathematical tools of advanced microeconomic theory can be used to understand and model individual and strategic decision making. Topics it covers include advanced concepts of decision making of the main economic agents (consumers and firms), as well as specialised topics on game theory. The module requires algebra and calculus, along with logical thinking and problem-solving ability.
This course equips students with the knowledge to apply corporate finance theory to real-world situations. It builds on and extends the concepts covered in the basic financial management courses and introduces advanced topics in Corporate Finance. The major topics covered include capital budgeting, capital structure, corporate valuation, real options, equity financing for startups, IPOs, leasing, short term financing, merger and acquisitions, and corporate governance
This course focuses on the economics of growth and development, both from a theoretical and empirical perspective. Using examples from developing countries, it explores wide-ranging, policy-relevant topics such as investments in health, education and infrastructure, microeconomics of credit markets, corruption and other determinants of economic development.
This module introduces up-to-date quantitative econometric methods used in applied research/empirical work. We will discuss various economic applications, including “returns to schooling” and “the effect of minimum wages on employment”. The module will also provide students with the data analytical skills necessary to conduct applied research in economics/policy analysis using popular statistical software, STATA. Key topics include linear regression, instrumental variables, causal inferences, binary choice models, panel data, time series modelling, and forecasting.
This module allows students the freedom to explore a research topic of their choice. It combines all of the previous skills acquired throughout the course of study. Students will be expected to write an original work of approximately 7,500 words. While the research topic will vary from student to student, each student will be assigned a supervisor to help guide them through the process of their first large scale research project in economics.
This module is essential for any student wishing to engage in graduate study in economics or for students wishing to work as a professional economist.
The objective of this module is to offer a practical introduction to the workings of today’s financial markets and institutions built on a theoretical base. Moving beyond the descriptions and definitions provided by other textbooks and UK university courses in the field, this module encourages students to understand the connection between the theoretical concepts and their real-world applications.
Topics include foreign exchange, stock markets, bond markets, derivatives, central banks' monetary policy and financial crises. We also look at how trading in financial markets takes place. This module prepares students for successful careers in the financial services industry or successful interactions with financial institutions, whatever their future careers.
This module provides a foundation in banking by familiarising students with the basic business activities of banks, and illustrates the role of banks for the economy while retaining a bank-level rather than a macroeconomic perspective. It also highlights the role of regulation and supervision in the banking industry to differentiate banking from all other industries, and how crises reshape regulation in banking. The objective of this module is to introduce banking and what is special about it into the curriculum to equip students with a basic foundation to pursue careers in the banking industry.
This module helps you improve your strategic thinking. Over the course of this module, you will learn how to use ‘games’ to model strategic situations in the real world, and how to analyse and find out solutions to these games in situations in which players are intelligent and rational. Games including “normal form games”, “extensive form games”, “Bayesian games”, “repetitive games”, and “games with correlation device” will be introduced. Opportunities for playing games with the lecturer and other students will also be provided. The module requires a basic knowledge of algebra, calculus, and economics.
This applied module is an introduction to the economics of health and health care and will develop your awareness of the main policy issues in this field. It provides a comprehensive set of economic tools for critically appraising fundamental issues in the economics of health while offering a broad overview of the UK’s National Health Service and other health care systems around the world. The emphasis is on the use and interpretation of microeconomic models and the latest empirical evidence.
This module builds on basic microeconomics concepts to explore competition between firms and the evolution of market structure. It focuses on understanding the way firms make decisions and the effects of those decisions on market outcomes like prices, quantities, the type of products offered, and social welfare. The module first introduces basic concepts in Industrial Organisation to study imperfect competition and the determinants of market power. It then proceeds to analyse important topics in competition policy, such as cartels and merger policy.
The module requires an understanding of intermediate microeconomics (especially production/cost theory), basic concepts of game theory, and basic calculus.
This module provides knowledge that is important to those concerned with financial management in a multinational setting. Areas covered include the relationships between exchange rates, interest rates and inflation rates, forward, futures and options markets, and corporate exchange rate risk management.
This module develops your understanding of concepts and theories of international trade and factor flows, with particular reference to the way in which such material can inform policymaking. Topics covered include the Ricardian model, the Heckscher-Ohlin model, international trade under imperfect competition, outsourcing and offshoring, trade models based on heterogeneous firms and multinational firms, and trade policy under perfect and imperfect competition. Throughout the module we emphasise the applicability of the models learned, and their relevance to real-world events. Examples include the relationship between labour productivity and wages, opinions toward free trade, and the impact of immigration.
The aim of this module is to equip students with the tools necessary to enable them to make the core investment management decisions that managers face on a daily basis as well as the knowledge as to where they can find the information necessary to apply those tools. This course is an introduction to investment analysis, with emphasis on the pricing of equity securities. This course covers fundamental concepts and key issues in asset pricing; modern portfolio theory and its applications; equilibrium theories of asset pricing; portfolio performance evaluation; mutual funds and hedge funds. It provides an entry point to advanced-level subjects and foundational knowledge on the valuation and arbitrage of investment assets.
Focusing on the microeconomics of labour and personnel, this module covers topics such as the economics of migration, wage determination, job search and labour market discrimination.
There is a particular emphasis on principal agent problems in human resources and the design of incentives within firms.
Economics theory is used to analyse the operation of labour markers and assess the empirical evidence. Areas covered include:
the firm's demand for labour
labour supply at an individual and aggregate level
causes of wage rigidity
the economic impact of trade unions
inflation and unemployment
Policymakers at Central Banks lie in a unique position to influence economic activity. This module examines the role of monetary policy in influencing the expectations and behaviour of agents in the economy and the implications this has for outcomes such as inflation, GDP and household welfare. Students will focus on applications of monetary theory to central banks problems and the recent objectives of the Bank of England Monetary Policy Committee. Topics include Central Bank independence, inflation targeting and the zero lower bound on interest rates, money creation and quantitative easing, and the macroeconomics of pandemics.
The main purpose of this module is to give students a thorough grounding in the materials expected of a professional financial analyst and thus prepare students to take the Chartered Financial Analyst (CFA) Level 1 examination.
As such, it will introduce and review the theories, methods and professional standards relating to financial analysis; help students apply the knowledge and skills developed during this and other modules to the investment problems encountered by professional financial analysts; and prepare students to sit and pass the February CFA Level-1 exam administered by the CFA Institute.
This module presents an overview of the interactions between the government, firms, and citizens, using a mix of theory and empirical work. Sometimes, markets are not efficient, and government intervention is necessary. Sometimes, markets are efficient, but equity concerns create the need for government. There is often a tension between the socially optimal policy and the outcome of the democratic process.
Some questions we study in this module:
What is the role of government in the economy?
Is it fair to redistribute money through taxation?
Are some taxes better than others?
How to deal with pollution, discriminations, and other inefficiencies of the market?
How to make multinational companies pay taxes?
Is there such a thing as an ideal voting system?
Fees and funding
Our annual tuition fee is set for a 12-month session, starting in the October of your year of study.
Our Undergraduate Tuition Fees for 2025/26 are:
Home
International
£9,250
£25,450
Please note
Course fees for undergraduate home students are currently under review for 2025 entry, following the recent UK Government announcement.
There may be extra costs related to your course for items such as books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation, you may need to pay a subscription to a professional body for some chosen careers.
Specific additional costs for studying at Lancaster are listed below.
College fees
Lancaster is proud to be one of only a handful of UK universities to have a collegiate system. Every student belongs to a college, and all students pay a small college membership fee which supports the running of college events and activities. Students on some distance-learning courses are not liable to pay a college fee.
For students starting in 2025, the fee is £40 for undergraduates and research students and £15 for students on one-year courses.
Computer equipment and internet access
To support your studies, you will also require access to a computer, along with reliable internet access. You will be able to access a range of software and services from a Windows, Mac, Chromebook or Linux device. For certain degree programmes, you may need a specific device, or we may provide you with a laptop and appropriate software - details of which will be available on relevant programme pages. A dedicated IT support helpdesk is available in the event of any problems.
The University provides limited financial support to assist students who do not have the required IT equipment or broadband support in place.
Study abroad courses
In addition to travel and accommodation costs, while you are studying abroad, you will need to have a passport and, depending on the country, there may be other costs such as travel documents (e.g. VISA or work permit) and any tests and vaccines that are required at the time of travel. Some countries may require proof of funds.
Placement and industry year courses
In addition to possible commuting costs during your placement, you may need to buy clothing that is suitable for your workplace and you may have accommodation costs. Depending on the employer and your job, you may have other costs such as copies of personal documents required by your employer for example.
The fee that you pay will depend on whether you are considered to be a home or international student. Read more about how we assign your fee status.
Home fees are subject to annual review, and may be liable to rise each year in line with UK government policy. International fees (including EU) are reviewed annually and are not fixed for the duration of your studies. Read more about fees in subsequent years.
We will charge tuition fees to Home undergraduate students on full-year study abroad/work placements in line with the maximum amounts permitted by the Department for Education. The current maximum levels are:
Students studying abroad for a year: 15% of the standard tuition fee
Students taking a work placement for a year: 20% of the standard tuition fee
International students on full-year study abroad/work placements will be charged the same percentages as the standard International fee.
Please note that the maximum levels chargeable in future years may be subject to changes in Government policy.
Scholarships and bursaries
You will be automatically considered for our main scholarships and bursaries when you apply, so there's nothing extra that you need to do.
You may be eligible for the following funding opportunities, depending on your fee status:
Unfortunately no scholarships and bursaries match your selection, but there are more listed on scholarships and bursaries page.
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We also have other, more specialised scholarships and bursaries - such as those for students from specific countries.
"I've been accepted onto a Summer Internship as a Finance Intern with Natwest. Lancaster University Management School has been incredibly helpful throughout. My careers coach was vital in enabling me to become as competitive a candidate as possible."
Max, BSc Economics and Finance student
Rated 5 Stars for Accounting and Finance
Lancaster University has been awarded 5 Stars for Accounting and Finance by QS.
Overall, Lancaster is rated 5 Stars for Teaching, Employability, Global Engagement, Research, Facilities and Environmental Impact.
Lancaster is ranked 13th in the UK and joint 75th in the world for Accounting and Finance according to the QS World Rankings by Subject 2024, one of 11 subjects at Lancaster to be featured in the top 100 in these prestigious listings.
The best thing about my course was getting to meet lots of different people in the lectures, workshops and group work as we all pushed each other to achieve the best result possible.
Being at Lancaster has been the greatest learning experience of my life!
Important information
The information on this site relates primarily to 2025/2026 entry to the University and every effort has been taken to ensure the information is correct at the time of publication.
The University will use all reasonable effort to deliver the courses as described, but the University reserves the right to make changes to advertised courses. In exceptional circumstances that are beyond the University’s reasonable control (Force Majeure Events), we may need to amend the programmes and provision advertised. In this event, the University will take reasonable steps to minimise the disruption to your studies. If a course is withdrawn or if there are any fundamental changes to your course, we will give you reasonable notice and you will be entitled to request that you are considered for an alternative course or withdraw your application. You are advised to revisit our website for up-to-date course information before you submit your application.
More information on limits to the University’s liability can be found in our legal information.
Our Students’ Charter
We believe in the importance of a strong and productive partnership between our students and staff. In order to ensure your time at Lancaster is a positive experience we have worked with the Students’ Union to articulate this relationship and the standards to which the University and its students aspire. View our Charter and other policies.
Undergraduate open days 2024
Our summer and autumn open days will give you Lancaster University in a day. Visit campus and put yourself in the picture.
Our historic city is student-friendly and home to a diverse and welcoming community. Beyond the city you'll find a stunning coastline and the picturesque Lake District.
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