Lancaster University

The analysis of economics is often conducted using mathematical and statistical models. A facility with the tools of quantitative analysis is therefore of particular benefit to students wishing to access certain areas of specialism within economics (including econometrics and finance). Meanwhile, economics provides students with an aptitude for mathematical analysis with an interesting and socially useful arena in which their skills can be applied. Students graduating from this combined programme will have skills that are required for many occupations, including those in the financial services sector and consultancy.

Economics

This degree scheme aims to provide students with

• A broad understanding of each of the three main components of the subject, namely economic theory, quantitative methods and economic history.
• An understanding of a wide range of theoretical debates in economics,
• The ability to analyse economic problems and evaluate the implications for economic policy.
• An understanding of the process of economic change through time.

The degree scheme is distinctive in that students have access to a wide choice of specialist courses, ranging across advanced micro and macro economic theory, international economics and the history of business enterprise.

Principal educational aims of the programme

• To develop students' knowledge and understanding of economic theory, quantitative methods, economic problems and policy and recent economic history.
• To develop students ability to apply theory to practice.
• To prepare students for careers in the private and public sectors, and for postgraduate study.
• To improve students communication and presentation skills, both oral and written.
• To enhance students' quantitative and IT skills.
• To increase students' ability to think logically and critically.

Mathematics

The Department's educational aims are:

• To create a teaching and learning environment which supports all students in reaching their full potential in their study of mathematics at BSc/BA level;
• To offer a high-quality teaching and learning programme, informed by staff research, designed to train students in preparation for a wide range of postgraduate education and employment.

The aims of the BSc/BA Mathematics programme are:

• To provide students with analytical techniques and problem-solving skills that can be applied in many types of employment, especially those involving logical skills, decision-making in complex circumstances, or advanced skills of numeracy;
• To offer modules of study which, individually and collectively, enable students to appreciate both the theoretical and problem-solving aspects of mathematics;
• To provide students with enough core material, of sufficient depth and variety, in the first two levels of study that they are adequately prepared and informed for subsequent study in either or both of pure mathematics and statistics;
• To provide a programme of study that allows students to specialize in either pure mathematics or statistics, or to take a coherent blend of each at the third level of study of a BSc/BA;
• To maintain a programme of study that introduces the background of current research in pure mathematics and statistics;
• To produce alumni recognised for the distinctive value of their education on this programme.

The intended learning outcomes of the programme are similar to those of the single honours programmes in Economics and Mathematics, and are achieved by reference to the same teaching learning and assessment methods that are used on the single honours programmes, with the following exception:

Economics

Knowledge and understanding of:

• Analytical methods, both theory and model based.
• Relevant mathematical and statistical techniques.
• Statistical data and their manipulation and presentation by verbal, graphical, mathematical and econometric means
• The relevance of different theoretical approaches to public policy and business problems
• The international economic environment in the UK and the impact of external factors on micro and macro economic performance and policy with particular reference to the UK economy.
• The historical context of economic problems and policy.
• Business history, both national and comparative.
• Themes in micro and macro economics on the basis of specialist knowledge and understanding (300 level courses).

Skills

Intellectual Skills

• Engage in abstract thinking by extracting the essential features of complex systems to facilitate problem solving and decision-making.
• Engage in deductive and inductive reasoning to enhance problem solving and decision-making skills.
• Apply theoretical, historical and quantitative methods to the analysis of public policy problems.

Practical Skills

• Plan and manage their time effectively in relation to deadlines whilst displaying individual initiative and enterprise.
• Conduct individual assignments and perform effectively in a group environment by demonstrating leadership and team-building qualities.
• Demonstrate a logical argument, analyse and interpret data and evaluate alternative perspectives on the basis of objective reasoning.
• Develop effective learning strategies to enhance problem solving and decision making skills.
• Communicate with fellow students from a diverse range of backgrounds in terms of effective listening, persuasion and representation

Transferable Skills

• Communicate and present complex arguments in oral and written form with clarity and succinctness.
• Present, interpret and analyse information in numerical form.
• Utilise effectively statistical and other packages.
• Understand the nature of incentives and opportunity costs in decision-making.
• Think in marginal terms about the trade-offs involved in public policy
• and business decision-making.
• Work effectively both individually and within a team environment.

Mathematics

Subject-specific Knowledge, Understanding and Skills

On completing the programme students should have acquired:

A1 An understanding of and competence in the key ideas and techniques, and knowledge of the statement and proof of key results, both within the core areas of real and complex analysis, linear and abstract algebra, and probability and statistics, and in the more advanced topics chosen in the third level of study;

A2 An appreciation of the hierarchical structure of mathematical knowledge;

A3 An understanding of mathematical notation, and an ability to use it correctly and coherently;

A4 An appreciation of the importance of proof, generalization and abstraction in the logical development of formal theories;

A5 An ability both to follow and correctly to construct mathematical proofs of appropriate degrees of complexity;

A6 An understanding of the mathematical and contextual basis of statistics as a science, and an appreciation of the statistical paradigm, linking design and conduct of experiments and observations with data analysis, modelling and inference;

A7 Experience of implementing the statistical paradigm in a range of general applications;

A8 An ability to read and comprehend mathematical literature at an appropriate level;

A9 An ability to use computers and specialist software to investigate and solve practical mathematical problems.

General Knowledge, Understanding and Skills

On completing the programme students should have acquired:

B1 An ability to learn from various styles of presentation of material;

B2 An ability to apply previously acquired knowledge to new situations, both to gain understanding and to solve problems;

B3 An ability to use information skills to gain access to library and IT resources effectively in researching topics;

B4 An ability to produce documents which accurately and effectively communicate scientific material to the reader;

B5 An ability to make presentations based on prepared material;

B6 An ability to work effectively both independently and as part of a small group;

B7 An ability to work to deadlines, and experience in time management when working to a range of deadlines.