Economics and Mathematics

Durham University

Taught by discipline specialists this course brings together the complementary fields of economics and mathematics, and offers opportunities to specialise within disciplines.,From developing your knowledge of core economic theory and high-level mathematics and statistics to addressing the challenges associated with real-world data, this BSc will arm you with the tools you need to make effective decisions in our data-driven world. The course explores the intricacies of economic analysis with an emphasis on resource allocation efficiency and effectiveness, while also offering the opportunity to tailor your learning to specialise in a specific area of mathematics or statistics. The wide array of option modules provides the flexibility to tailor your learning in line with your evolving interests. In addition, the common first year allows the option to transfer onto either the BA Economics, BSc Mathematics or BSc Natural Sciences at the end of the first year. The BSc in Economics and Mathematics cultivates critical thinking, analytical prowess, problem-solving and logical reasoning. It serves as a gateway to a wide range of career options including the financial sector, policymaking, education and international development.The first two years include an equal balance of economics and mathematics modules, starting with a foundation in domestic economics, international economics, pure mathematics, statistics and probability in Year 1. As you progress through Years 2 and 3 you will gain a deeper understanding of core concepts in key areas of economics such as macroeconomics, microeconomics and data analysis, while in mathematics you will delve deeper into mathematical applications which typically include data science, statistics and/or probability theory. In the final year you draw on this learning to research and write a dissertation in either Economics or Mathematics. You’ll also have the option to develop complementary skills through our innovative interdisciplinary enterprise module. Working in groups, you can develop a business plan to bid for research funding for an applicable innovation.Course structureYear 1 modulesCore modules:Principles of Economics provides a sound foundation for modules in micro- and macroeconomics. You will cover areas including methodology of economics, supply and demand, consumer spending choices, competition and growth theories.Global Economic History provides knowledge and understanding of the features of different types of economy, and of world trade and the international financial system. You will learn about international trade theory, economic growth and cover some of the key concepts relating to developments and crises in the world economy using real-world case studies.Calculus builds on ideas of differentiation and integration in A level mathematics. The module begins with functions of a single variable before moving on to functions of several variables. Topics include methods of solving ordinary and partial differential equations, and an introduction to Taylor series, Fourier series and Fourier transforms.Linear Algebra presents mathematical ideas, techniques in linear algebra and develops the geometric intuition and familiarity with vector methods you will need for more challenging material later in the course.Probability introduces mathematical ideas on probability in preparation for more demanding material later in the course. The module builds problem solving skills through the exploration of a mathematical subject of relevance to the real world (applied) that is based on rigorous mathematical foundations (pure).Statistics introduces frequentist and Bayesian approaches and demonstrates the relevance of these principles and procedures using real problems. This introductory module lays the foundations for all subsequent study of statistics.