Undergraduate open days 2024
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11th for Research Quality for Economics
The Times and Sunday Times Good University Guide (2024)
13th for Accounting and Finance
The Guardian University Guide (2024)
15th for Accounting and Finance
The Times and Sunday Times Good University Guide (2024)
BSc Economics and Finance (Industry) is a four-year career-focused degree that 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, 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.
Your third year is spent in industry. You’ll 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.
In your final year, you choose all your modules, from Game Theory, Portfolio Management, Financial Markets, and Monetary Microeconomics, among other options.
Alongside these academic modules and throughout all three years of your study, you will have modules on careers and employability led by our Careers Coaches. These are designed to prepare you for interviews and internships and show you what careers will be available.
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 worldwide. Our connections with Invesco allow us to deliver joint conferences and seminars, providing you with insights from both top academics and industry professionals.
We teach Economics from the ground up, so you do not need an A level in Economics to enrol in this course.
The University will use all reasonable effort to support you in finding a suitable placement for your studies. While a placement role may not be available in a field or organisation directly related to your 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 you are unsuccessful in securing a suitable placement for your third year, you can transfer to the equivalent non-placement degree scheme and will continue with your studies at Lancaster, finishing your degree after your third year. The University offers a range of shorter placement and internship opportunities for which you would be welcome to apply.
Employers highly value our Economics and Finance degrees. Graduates from this programme work as economists in the public sector and academia, but also in banking, professional services, international business and international organisations.
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.
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.
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 or Further Mathematics with at least 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.
Contact Admissions Team + 44 (0) 1524 592028 or via ugadmissions@lancaster.ac.uk
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 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.
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.
During this Preparation for Placement module, you will learn about the competitive recruitment processes in the UK and the skills and expertise employers expect you to evidence; how to produce excellent CVs and cover letters; how to make an impact on application forms, what to expect at interviews and assessment centres.
You will get to hear from final year students about their placement experience and a chance for you to learn about the placement opportunities on offer from graduate employers. You will be offered the opportunity to experience a mock interview with a real employer and attend a mock assessment centre. You will be shown the range of resources and support we offer in LUMS Careers and how that will continue throughout the placement programme, in order to seek a suitable year in industry placement.
Students compete with others nationally to secure placements and we also offer exclusive opportunities with employers, however, we cannot guarantee that all students will progress on to a year in industry placement.
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.
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:
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.
The course provides students with general knowledge and understanding concerning social research and particular methods and methodologies that lie within the positivist and interpretivist paradigms. It is primarily aimed at students from across the management school that are planning to undertake an industrial placement and/or a dissertation in their final year of study. This module helps to prepare you to undertake your own research with a view to highlighting different research approaches and techniques that are used in the production of knowledge.
The module provides an insight into the various ways research can be undertaken and the implications of different approaches. We will examine the conceptual and practical complexities of undertaking research in practice. Initially you will be introduced to research methods and that are most commonly employed in business and management research. The module will then examine the methodological approaches and paradigms that are linked with these methods and the assumptions that underpin positivistic and interpretivist approaches. The final part of the module explores how this understanding can be used in writing your research proposal and dissertation.
This module provides students with a thorough understanding of the nature and operations of the company where they are working during their industrial placement year. Students need to be cognisant of the company's history, the current nature of its operations, the competition it faces, and the threats and opportunities for the organisation.
In your first year you'll apply for placements in business or industry, and will take a module to prepare you for the placement year. The whole of your third year will then be spent working in a paid placement, supported by the Careers team. Near the end of the placement, you'll submit a proposal for your dissertation topic, inspired by your experiences during the placement year, which you'll complete in fourth year under the supervision of an academic tutor.
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.
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.
Behavioural Economics is the interface between economics and psychology. It is one of the fastest-growing fields in economics, and since the past decade, it is regarded as a standard tool for policymaking. The course will survey the empirical tools used by behavioural economists and in particular lab and field experiments. We will explore behavioural biases affecting economic and financial decision making, and the role of trust and cooperation in teamwork. We will discuss models and experimental results explaining how we make decisions in various contexts such as choice under uncertainty, intertemporal choice or decision making in a social framework.
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.
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 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:
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:
This module is designed as an introduction to econometric and time series methods for the analysis and research of financial assets and capital markets relationships. The focus will be on the analysis of financial data and econometric methods for modelling of financial time series, risk management and forecasting. The key objectives are to i) explain how econometric methods can be used to learn about the behaviour of financial assets; ii) endow students with practical experience of analysing financial data useful for research and practical work in the quantitative finance industry using basic statistical software packages; and iii) endow students with the relevant quantitative skills for advanced studies in MSc programmes.
We set our fees on an annual basis and the 2025/26 entry fees have not yet been set.
As a guide, our fees in 2024/25 were:
Home | International |
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£9,250 | £24,475 |
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.
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 2024, the fee is £40 for undergraduates and research students and £15 for students on one-year courses. Fees for students starting in 2025 have not yet been set.
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.
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.
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:
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.
Details of our scholarships and bursaries for students starting in 2025 are not yet available. You can use our scholarships for 2024-entry applicants as guidance.
BSc Finance and Economics (Industry), 2020
I was very fortunate, throughout my degree, to encounter numerous lecturers who constantly inspired me in their teaching and research.
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.
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.
Our summer and autumn open days will give you Lancaster University in a day. Visit campus and put yourself in the picture.
Undergraduate Open DaysTake five minutes and let us show you what Lancaster has to offer, from our beautiful green campus to our colleges, teaching and sports facilities.
Most first-year undergraduate students choose to live on campus, where you’ll find accommodation to suit different preferences and budgets.
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.