Economics and Management
Introduction
The Economics and Management (E&M) degree at Oxford brings together two powerful areas of study that influence both society and organizations. By combining economics with management, students gain a broad understanding of how markets, governments, and businesses operate, and how leaders and organizations make decisions in complex environments.
- Economics looks at how scarce resources are used and how choices are made by individuals, companies, and governments. It studies the impact of these decisions on society as a whole. Through economics, students explore important global issues such as inflation, unemployment, poverty, international trade, financial crises, and the effects of technological change.
- Management focuses on the inner workings of organizations and how people, processes, and resources can be planned and coordinated effectively. It examines leadership, employee motivation, organizational culture, business strategy, and innovation.
By combining these two disciplines, students not only learn about large-scale systems such as global markets and government policies, but also about smaller-scale decision-making inside companies. This unique blend prepares graduates to understand the world both at the macro-level (economies, nations, and industries) and the micro-level (businesses, organizations, and individuals).
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Economics and Management is an interdisciplinary degree that explores the fundamental principles of economics alongside modern business practices. Students develop analytical and quantitative skills from economics, combined with insights into leadership, marketing, strategy, and organizational behavior from management.
At Oxford, the program is designed to give students both academic depth and practical skills, preparing them for careers in finance, consulting, business management, and public policy.
Studying Economics and Management at Oxford University offers several advantages that set it apart:
World-Class Faculty: Learn from leading economists and management scholars.
Global Reputation: Oxford ranks among the top universities worldwide for economics and business.
Interdisciplinary Approach: The combination of economics with management creates well-rounded graduates.
Networking and Alumni: Oxford graduates often secure leadership roles in top firms, governments, and international organizations.
Career Prospects: Employers worldwide actively recruit Oxford Economics and Management graduates.
Course Duration and Pathway
- Degree Awarded: Bachelor of Arts (BA)
- Length of Study: 3 years (full-time)
- UCAS Code: LN12
Teaching is shared between the Department of Economics and the Saïd Business School. Unlike typical business studies programs, Oxford’s E&M degree is taught as a rigorous social science. The focus is on developing students’ analytical skills, critical thinking, and ability to handle complex theoretical ideas.
Entry Requirements
- A-levels: A*AA, with Mathematics at grade A or higher.
- International Baccalaureate (IB): 39 points, with grades 7, 6, 6 at Higher Level (including Maths).
- Scottish Highers / Advanced Highers: Typically AA/AAB.
- Other international qualifications: Accepted if considered equivalent to the above standards.
- Essential: Mathematics is required.
- Helpful but not essential: Skills in logical reasoning, problem-solving, and clear essay writing are valuable for success.
- Admissions Test: All applicants must sit the Thinking Skills Assessment (TSA), Section 1.
- Written Work: No written work submission is required.
- English Language: Non-native speakers may need to meet Oxford’s language proficiency requirements.
Year 1 – Building Foundations
In the first year, students take three compulsory subjects:
- Introductory Economics – covers the basics of microeconomics (individual and firm decision-making) and macroeconomics (economy-wide policies and performance).
- General Management – explores how organizations are structured, the role of leadership, strategy, and people management.
- Financial Management – introduces accounting, finance, and financial decision-making skills.
Assessment: Students take three written examinations at the end of Year 1 (known as the First University Examinations).
In the second and third years, students design their own academic pathway by choosing from a range of advanced subjects. They must take:
- At least two Economics courses (one must be Microeconomics, Macroeconomics, Quantitative Economics, or History of the World Economy).
- At least two Management courses.
Examples of Optional Courses:
- Economics of Industry
- Money and Banking
- Development Economics
- Game Theory
- Econometrics
- Strategic Management
- Finance
- Organisational Behaviour and Analysis
- Marketing
- Entrepreneurship and Innovation
- Technology and Operations Management
- Accounting
This flexibility allows students to shape their degree to match their interests—whether they prefer theoretical economics, practical management, or a mix of both.
Overview of Course Modules
| Year | Economics Modules | Management Modules | Additional Focus |
|---|---|---|---|
| 1 | Introductory Economics | Organizational Behavior | Quantitative Methods |
| 2 | Micro & Macroeconomics | Management Principles | Finance |
| 3 | Advanced Theory | Strategic Management | Electives |
For detailed information about the Economics and Management course at Oxford, visit the official Oxford University page .
Admissions Process
To apply for Economics and Management at Oxford, students must apply via UCAS.
UCAS Code: LN12
Application Deadline: October (the year before entry)
Written Test: Thinking Skills Assessment (TSA) is required.
Personal Statement: Strong emphasis on analytical ability and motivation.
Interviews: Shortlisted candidates are invited for Oxford’s rigorous interview process.
Fees and Financial Support
- Home (UK) Students: £9,535 per year.
- Overseas Students: £41,130 per year.
Oxford provides bursaries and scholarships to support students, particularly those from lower-income backgrounds (household income below £50,000). UK students may also apply for government loans covering tuition fees and living expenses.
Living Costs: Estimated between £1,425–£2,035 per month. Oxford’s college system (with accommodation, meals, and libraries) helps reduce these expenses compared to living independently.
Careers and Future Opportunities
Graduates of the E&M degree are highly employable and sought after by many sectors. Career options include:
- Banking and Finance: Investment banks, asset management firms, and advisory roles.
- Consultancy: Strategy and management consulting firms.
- Civil Service and Government: Policy-making, regulation, and public administration.
- Journalism and Media: Economic reporting, financial journalism, and analysis.
- Entrepreneurship: Founding or managing start-ups and innovative businesses.
- Academia and Research: Doctoral studies, teaching, or working at think tanks.
Examples from alumni:
- Imogen now works in start-up strategy, applying insights from courses such as Marketing and Organisational Behaviour.
- Dean works in investment banking and emphasizes how the course improved his confidence, communication, and analytical thinking.
Life at Oxford
Every student is part of two communities:
- A College – offers accommodation, meals, libraries, welfare support, sports, clubs, and a strong social environment.
- The Department of Economics and Saïd Business School – provides subject-specific teaching, seminars, and research opportunities.
Most colleges guarantee first-year accommodation, and many extend this for additional years. Colleges also organize events, welfare services, and extracurricular activities, giving students a supportive environment in which to live and study.
Scholarships and Funding
Oxford offers several scholarships for Economics and Management students:
Clarendon Fund: Prestigious scholarships covering tuition and living expenses.
Oxford Weidenfeld-Hoffmann Scholarships: Leadership-based scholarships.
College-Specific Awards: Many Oxford colleges offer bursaries or grants.
International Student Support: Regional scholarships available for students from Asia, Africa, and the Americas.
Economics and Management vs Business and Management
Many students confuse Economics and Management with Business and Management. While both focus on organizational and leadership skills, Oxford’s Economics and Management program is more analytical and theoretical, focusing heavily on economics, mathematics, and decision-making frameworks. Business and Management degrees at other universities may focus more on practical skills like marketing or entrepreneurship.
Outreach and Opportunities
Oxford runs programs to make the E&M course more accessible to students from different backgrounds:
- UNIQ Summer School: A free residential program for UK state school students to experience Oxford’s teaching.
- Departmental Resources and Events: Public lectures, workshops, and online resources (such as the Digital Resource Hub and Oxplore platform).
These initiatives aim to encourage talented students from all backgrounds to apply and thrive at Oxford.
Conclusion
Economics and Management at Oxford University is one of the most sought-after degrees, combining world-class economics teaching with practical management knowledge. The course opens doors to global careers in finance, consulting, government, and academia. While entry is competitive, successful students gain access to one of the most respected degrees in the world, along with unmatched networking opportunities and career prospects.
If you are passionate about understanding how economies function and how organizations are managed, Oxford’s Economics and Management degree is one of the best paths you can take.