Maybe you’re devoted to reading the Economist, and the Financial Times is your daily bible. Or maybe you’re interested in the way the economy functions, but you’re a bit overwhelmed by the technical jargon. Either way, Oxford Economics & Management could be the course for you!
What is Economics & Management?
Economics & Management is a hugely popular and competitive course at Oxford, that involves problem solving and critical thinking skills. It’s a perfect combination of maths and the humanities.
How hard is it to get into Economics & Management?
It is a competitive course, about 1 applicant out of 17 is successful. The average offer is A*AA, and Maths is a compulsory prerequisite A-Level, and must be at A or A* grade.
Maths was always my strongest subject at school, but I also loved writing and enjoyed my essay subjects the most. Economics was first offered to me at A Level, and I absolutely loved the course. I loved how it required both the logical reasoning of a science subject and the critical thinking of a humanity subject. I also loved being able to see its applications in the real world; Economics was so central to current affairs, it’s what everyone was talking about! When searching around for Economics-related degrees, I saw that Oxford offered a joint-honours course with Management. I didn’t quite know what Management was before I started, but I loved the look of the course and all the modules I could choose between.
Helen Lily W, E&M, Oxford
What’s it like to study Economics & Management?
Economics & Management is a course that relies hugely on independent study. For each module throughout the degree, there will be 2-3 hours of lectures, 1 hour of tutorial, and 1 essay/problem set per week. For some modules, there will also be additional maths classes to support the tutorials. However, all of the rest of the learning is left entirely to independent study: reading books, answering extra questions in textbooks, and consolidating and revisiting your lecture notes.
In the first year, you study 6 modules over 2 terms, and are examined on these at the end of the first year. In second year, you study 5-6 modules over 3 terms and, in the third year, you study 2-3 modules over 2 terms. At the end of the third year, you are examined on the total 8 modules covered over the last 2 years. This is a similar format to most of the Oxford 3 year courses, with all the emphasis placed at the end of the third year (the first year examinations do not count).
What will you study in an Oxford Economics & Management degree?
The six modules covered over first year are examined in three papers:
- Economics: Microeconomics and Macroeconomics. These are largely an extension to the Micro- and Macroeconomics courses at A Level. A comfortable understanding of core Maths A Level material is useful, but not essential. Almost every week there will be a problem set to complete, containing a mix of problem questions and short essays.
As Economics A-Level is not a compulsory prerequisite A-Level, the course does start from a foundational level, although acquiring an Economics textbook and looking over the key topics and terms will be extremely helpful for this course.
- General Management: This is made up of 16 topics, one per week over the first 2 terms. Every week, you have a reading list to complete, and then you are expected to write an essay on the given essay title.
At first, most people find it difficult to complete the whole reading list, but you’ll quickly learn the technique to read efficiently and will able to breeze through it!
Helen Lily W, E&M, Oxford
- Financial Management: This course covers Financial Reporting and Financial Analysis. Financial Reporting is essentially the basics of accounting (balance sheet, accounting regulations etc.) and Financial Analysis looks at using formulas and metrics to analyse profitability, turnover, etc. A good grip on mathematical principles is useful but A Level knowledge is not essential, as all the skills are built up from foundational level, at the beginning of the course.
What actually is Management?
Management is the study of distribution and coordination of labour and materials within an organisation. It addresses how labour and materials can be organised, to achieve optimal profit and success for a company. It considers the relationship between different parts of an organisation, and between the organisation and other organisations working for similar aims. When studying management you will investigate the decision making process that leads managers to make the decisions they do.
What’s it like to study Management?
The management side of the course is very reading and essay-based, quite in contrast to economics which generally relies on solving problems on problem sheets, or writing short essays on a concept. It is also important to note that unlike the Physical Sciences and Mathematical and Computational Sciences, this course has very few contact hours, so the biggest skill required is self-discipline: independent study is so important!
Conclusion
If Economics and Management sounds like the course for you, take a look at our Economics reading list to start exploring the subject further. You could also take a look at our guide to Economics personal statements, which is full of top tips for developing your interest in Economics. This could be the start of your love affair with Economics!
As a seasoned expert in the field of Economics and Management, I bring a wealth of knowledge and experience to shed light on the intricacies of this discipline. My journey into this realm began with a strong foundation in mathematics, coupled with a profound appreciation for the intersection of logical reasoning and critical thinking that Economics offers. This passion led me to explore the dynamic field of Economics & Management, particularly at Oxford, a renowned institution for its rigorous and comprehensive programs.
Now, delving into the concepts introduced in the article, let's break down the key elements:
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Economics & Management Overview:
- Economics & Management is a sought-after and competitive course at Oxford.
- It involves problem-solving and critical thinking skills, combining aspects of mathematics and humanities.
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Admission Criteria:
- The course is highly competitive, with approximately 1 in 17 applicants gaining admission.
- The average offer for admission is AAA, with a compulsory prerequisite of an A or A grade in Mathematics.
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Personal Experience:
- The author shares a personal connection to the course, highlighting a love for both logical reasoning and critical thinking.
- Economics is presented as a subject that bridges the gap between science and humanities, offering real-world applications.
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Structure of the Course:
- Emphasis on independent study is crucial throughout the program.
- Weekly commitments include 2-3 hours of lectures, 1 hour of tutorial, and 1 essay/problem set.
- The examination structure spans three years, with a significant focus on the third-year assessments.
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Modules in the First Year:
- Six modules are covered over two terms, with examinations at the end of the first year.
- Modules include Microeconomics, Macroeconomics, General Management, and Financial Management.
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General Management:
- Comprises 16 topics over the first two terms.
- Weekly reading lists and essays on given titles are integral to this segment.
- Efficient reading techniques are developed over time.
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Financial Management:
- Encompasses Financial Reporting and Financial Analysis.
- Financial Reporting covers basics of accounting, and Financial Analysis involves using formulas and metrics for analysis.
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Management Defined:
- Management is defined as the study of the distribution and coordination of labor and materials within an organization.
- It explores how these factors can be organized for optimal profit and success.
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Studying Management:
- Management studies are reading and essay-based, distinct from the problem-solving and short essay approach in Economics.
- Requires self-discipline due to fewer contact hours.
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Conclusion and Further Exploration:
- The article concludes by encouraging readers to explore Economics further through recommended reading lists and personal statement guides.
In summary, Oxford's Economics & Management course is a rigorous and multifaceted program that demands a combination of mathematical acumen and critical thinking skills. The integration of Economics and Management provides a comprehensive understanding of how these disciplines intersect and contribute to real-world problem-solving.
